State Duma committee on Financial Markets proposes restrictions on police access to banks
According to amendments recommended for inclusion into the bill prior to the second reading of the bill on the prevention of illegal financial transactions, law enforcement agencies would have to obtain a court warrant to access bank account information. The amendments were proposed by the State Duma Committee on Financial Markets.
The amendments apply to court ordered warrants only and stipulate limiting access to individual and business accounts.
The bill also specifies that a warrant can only to be issued upon the presentation of a reasonable likelihood of a crime, whether the crime is planned, committed, or being committed (when there is a lack of sufficient evidence to open a criminal case). Additional regulation will list the officials entitled to account access.
The head of the committee on Financial Markets Ms. Natalia Burykina, says: “Right now, law enforcement agencies can access bank information without a warrant. This means that if information is required to investigate tax law violations, the police have the right to access it. We propose depriving them of this right.”
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