the president of Russia, Vladimir Putinhas signed this Sunday a law that prohibits russian banks that provide foreign investigators with any type of information about their clients and their transactions.
The decree is designed to prevent “hostile countries” against Russia for his invasion of Ukraine may request “confidential information constituting banking secrecy” in cases of tax evasion international in nature.
Thus, “the law prohibits national credit institutions from sending to the competent authorities of foreign states, including the judiciary, the requested information on customers and their operations, except in the cases established by the regulatory legal acts of the Russian Federation“.
“Furthermore, Russian credit institutions must immediately inform rosfinmonitoring and to central bank about any request of this type that they make of foreign authorities“Adds the decree, collected by the TASS agency.
Russia will only continue to share information, according to the deputy finance minister, Alexei Moiseyevwhen it is involved with other countries in “joint actions” with other countries to combat the legalization of criminal proceeds and the financing of terrorism, as well as to counter the bank fraud.