Putin signed the law on fines for illegal attraction of investments by individuals
Russian President Vladimir Putin has signed a law on fines for illegal attraction of investments by individuals. The corresponding document was posted on December 13 on the portal of official publication of legal information.
On the website of the State Duma in the text of the explanatory note to the bill says that it was developed in connection with the increasing number of complaints from citizens about the activities of companies with signs of pyramid schemes.
The bill establishes penalties and liability for the implementation of activities to attract investments from individuals and the provision of related services by persons who do not have the right to carry out these activities.
In case of illegal provision of services to attract investments, the fine for citizens will be from Br5 thousand to Br30 thousand, for officials - from Br20 thousand to Br50 thousand. For persons carrying out entrepreneurial activities without a legal entity, the fine will be from Br20 thousand to Br50 thousand or suspension of activities for up to 60 days.
Legal entities may be fined from Br300 thousand to Br500 thousand, or their activities will be suspended for up to 60 days.
In case of illegal attraction of investments of individuals, citizens will be fined from Br30 thousand to Br50 thousand, officials - from Br50 thousand to Br100 thousand, persons engaged in entrepreneurial activities without a legal entity - from Br50 thousand to Br100 thousand or their activities will be suspended for up to 90 days.
Legal entities will be required to pay a fine of Br500 thousand to Br1 million or their activities may be suspended for up to 90 days.
The bill was introduced in the State Duma on September 27, 2023. The Federation Council approved it on December 11.
Earlier, December 11, the SF at the plenary session approved the law that establishes fines for microfinance and credit organizations engaged in debt collection, on a par with professional collection organizations. Thus, the law establishes administrative responsibility for the illegal use by a legal entity in its name of the word combination "professional collection organization". In addition, a fine is introduced for failure to comply with the decision of the Federal Bailiff Service to restrict the use of one or more methods of interaction with a debtor.
Prior to that, on July 29, the Central Bank of Russia (CBR) reported the identification of almost 3.5 thousand companies with signs of illegal activity in the first half of 2024. About half of all identified schemes are companies with signs of financial pyramids, about 30% - illegal lenders, the rest - illegal forex dealers, the Central Bank said.
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