Russia (RU)

Jurisdiction Overview

360 *Are there criminal sanctions, custodial sentencing or any other statutory sanctions for breaches of banking secrecy? No, there are no statutory sanctions for disclosing client's banking data to any third party.
 Data Date: 2014


Only the client may sue for damages: "In general, banks are subject to an obligation of secrecy under article 857 of the Civil Code which defines the scope of the obligation: 1. The bank shall guarantee the secrecy of a bank account and a bank deposit, operations with the account and information about clients. 2. Information constituting a banking secret can be provided only to the clients themselves or their representatives, and also provided to credit bureaus on the grounds and in the procedure provided for by a law. Such information can be provided to State bodies and their officials only in cases and in the procedure provided for by a law. 3. In case the bank divulges information subject to bank secrecy, the client whose rights have been infringed shall have the right to demand compensation for the losses caused" (GF 2014: 96-97).


GF 2014: 96-97