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The sale of the data will cost more

14.11.2014
The sale of the data will cost more

The fines for disclosure of commercial, tax and banking secrets will grow six to eight-fold, up to 1,5 million roubles. The respective draft law was approved by the Russian Government yesterday. The Government is hopeful that such measures will hamper divulgation and sale of confidential information. However, lawyers point out that the effect will be limited: there will be less parties to such activity, and their prices will rise.

The Government supported the draft law, which increases the liability for disclosure of tax, commercial and banking secrets. Dmitry Medvedev, the Chairman of the Government, stressed yesterday that such confidential information could be used illegally “not only for enrichment but also for doing great damage to certain companies as well as citizens, and even entire sectors of the economy”. The draft law authored by the Ministry of Finance sufficiently increases the amount of the fines for such deeds. According to the authors, those fines are currently “insignificant for credit organizations and their officers”.

The illegal collection of confidential data by stealing documents, bribing or menacing is currently fined for up to 80 thousand roubles. The Ministry suggests increasing the amount to 500 thousand roubles. The fine for disclosure of a secret will grow from the current 120 thousand to 1 million roubles. If such actions produce significant harm or are done for lucrative reasons, the plank will rise from 200 thousand to 1,5 million. Imprisonment of up to seven years remains the harshest punishment under that Article (in the event of grievous consequences) <...>

Lawyers agree that the current fines are in fact too low, because millions are often at stake. According to Igor Pastukhov, Advisor to the Law Firm "YUST", the market today is ripe with offers to search for confidential information, and the amendments are aimed at eliminating the economic gains from the “sale” of secrets. However, bigger fines will not completely eliminate the market of such services. Mr. Pastukhov believes: “The increase of the fines will cause such offer to fall somewhat. But the remaining part will become more expensive, because the risks of criminal liability will be included in the price”.


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