Several new laws are set to take effect in Russia throughout July, impacting areas such as migration, banking security, and insurance. These changes aim to enhance security, protect citizens, and modernize regulations.
Starting July 5th, transferring or purchasing access to bank cards for illicit purposes will be a criminal offense, punishable by imprisonment. This measure is designed to combat cyber fraud and protect individuals from financial crimes. Specifically, transferring bank cards or account access to third parties for personal gain or enabling illegal transactions can lead to a sentence of up to three years. A more severe penalty of up to six years imprisonment, along with a potential fine, applies to those who buy someone else’s card or account access for profit, then transfer it or use it for illegal transactions.
Amendments concerning migrant regulations will be implemented from July 1st. Communication service providers will be prohibited from serving foreigners who have not confirmed their identity in a communication store, including providing biometric data and their phone’s IMEI. This includes foreigners possessing more than the legally permitted 10 SIM cards who have not terminated the excess contracts. Furthermore, information regarding mandatory fingerprint registration and photographing will be entered into the federal register of population information for foreigners and stateless individuals staying in Russia for more than 90 days for work or other purposes.
Changes to banking practices are also scheduled. Systemically important banks have already begun opening special social accounts and deposits on June 1st, offering favorable rates for individuals receiving social support. Each eligible person can open one such account or deposit. For social accounts holding up to 50,000 rubles, the interest rate will be at least half of the key rate. Opening and maintaining these accounts will be free, as will transfers of up to 20,000 rubles per month. The social deposit is capped at 50,000 rubles, with an interest rate matching the maximum offered for individual deposits for up to one year, and can be extended for another year.
The limit for compensation under the Europrotocol, for traffic accidents processed without police involvement, is set to increase from 100,000 to 200,000 rubles from July 5th, provided there are disagreements between the parties involved and photo documentation of the damage is available.
Finally, starting July 28th, liability will be introduced for the illegal use of geographical indications on goods. The law protects the geographical indication, which identifies a product’s origin and links its quality and reputation to that specific location.