State Duma Allows Prosecution Authorities To Access Officials’ Foreign Accounts Data

25 January 2019 (09:28)

UrBC, Moscow, January 25, 2019. The bill allowing the Russian Prosecutor-General’s Office to look into data on Russian officials’ foreign bank accounts passed its third reading at the State Duma’s last plenary session on Thursday, January 24.

‘The Russian Federation Prosecutor-General’s Office may, if necessary, ask the Russian Central Bank (which, in its turn, will enquire with the foreign countries’ central banks or other regulatory bodies in the finance sector) for data on foreign bank accounts/deposits in the name of individuals who are legally not allowed to open/hold accounts or keep any cash or valuables in foreign banks outside the Russian Federation,’ the bill states.

The bill also authorizes the Prosecutor-General’s Office to liaise with foreign authorities in the course of the investigation. Should the Office fail to obtain the information in this way, a query may be placed with Russia’s Central Bank. The bank, in its turn, will turn to a particular foreign country’s central bank or other regulatory body for information.

The bill will get considered by the Federation Council on January 30.

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