the Ministry of internal Affairs of Russia wanted to access to banking secrecy to effectively counteract the crimes in credit institutions. This is stated in the letter from the Minister of internal Affairs Vladimir Kolokoltsev, the Chairman of the Central Bank Elvira Nabiullina, reports the newspaper “Izvestia”.
the Ministry said that law enforcement agencies can’t get the time necessary to prevent financial crime information. Sometimes organizations and being denied access to banking secrecy, referring to an ambiguous interpretation of certain laws. This helps to ensure that attackers can withdraw from banks large sums of money, which the depositors and, as a result, the state losing billions of rubles.
In this regard, the Ministry of interior has prepared amendments to the legislation, said Kolokoltsev. There is also discussion of an updated version of the draft agreement on information interaction between the Ministry and the regulator.
However, the Central Bank is the empowerment of law enforcement agencies is not considered necessary. The experts pointed out the importance of strengthening interagency cooperation, but noted that the expansion of access to banking secrecy have a negative impact on the reputation of credit institutions.
