Russian President Vladimir Putin has signed a law that allows the seizure of property and money earned on cybercrime.
On June 13, 2023, Russian President Vladimir Putin signed Federal Law No. 214-FZ of 13.06.2023, which provides for the confiscation of money and property obtained as a result of cybercrime. It supplements the Criminal Code of the Russian Federation with a provision that expands the list of crimes in connection with the commission of which property can be confiscated.
Now such crimes include the creation, use and distribution of malicious computer programs, illegal impact on the critical information infrastructure of the Russian Federation, as well as violation of the rules for the operation of means of storing, processing or transmitting protected computer information or information and telecommunications networks and terminal equipment, violation of the rules for access to information and telecommunications networks, resulting in destruction,blocking, modification or copying of computer information, if it entailed serious consequences or created a threat of their occurrence.
Confiscation is also provided for illegal access to computer information, if the crime caused major damage, was committed out of self-interest, by a group of persons by prior agreement, by an organized group, or by a person using their official position. The seizure of property and money will also be threatened in the event of serious consequences from the crime committed or the threat of their occurrence.
The authors of the law in an explanatory note in 2022 noted that recently "cybercrime is actively developing and affects information technologies and telecommunications," the number of fraudulent actions in the credit and financial sector is increasing. As a result, many people suffer, especially the elderly.
"The introduction of confiscation of property and money illegally obtained by cybercriminals will help restore justice and direct these funds to compensate victims," said Vasily Piskarev, the author of the amendments, chairman of the State Duma Committee on Security and Anti-Corruption.
The law comes into force on the day of its official publication.
On June 13, 2023, Russian President Vladimir Putin signed Federal Law No. 214-FZ of 13.06.2023, which provides for the confiscation of money and property obtained as a result of cybercrime. It supplements the Criminal Code of the Russian Federation with a provision that expands the list of crimes in connection with the commission of which property can be confiscated.
Now such crimes include the creation, use and distribution of malicious computer programs, illegal impact on the critical information infrastructure of the Russian Federation, as well as violation of the rules for the operation of means of storing, processing or transmitting protected computer information or information and telecommunications networks and terminal equipment, violation of the rules for access to information and telecommunications networks, resulting in destruction,blocking, modification or copying of computer information, if it entailed serious consequences or created a threat of their occurrence.
Confiscation is also provided for illegal access to computer information, if the crime caused major damage, was committed out of self-interest, by a group of persons by prior agreement, by an organized group, or by a person using their official position. The seizure of property and money will also be threatened in the event of serious consequences from the crime committed or the threat of their occurrence.
The authors of the law in an explanatory note in 2022 noted that recently "cybercrime is actively developing and affects information technologies and telecommunications," the number of fraudulent actions in the credit and financial sector is increasing. As a result, many people suffer, especially the elderly.
"The introduction of confiscation of property and money illegally obtained by cybercriminals will help restore justice and direct these funds to compensate victims," said Vasily Piskarev, the author of the amendments, chairman of the State Duma Committee on Security and Anti-Corruption.
The law comes into force on the day of its official publication.
