Centre Franco-Russe d’Intelligence Economique et Stratégique

09 novembre 2006

CBR Ready to Disclose Secrets

The Central Bank of Russia (CBR) suggested disclosing bank secrets to enforcement bodies. Probably in fear of extended authority, the prosecutors and Interior Ministry didn’t support the proposal.

At the yesterday’s sitting of the Federation Council’s Interregional Bank Board, Sergey Golubev, chief of the legal department of CBR, voiced some proposals of his bank aimed at improving interaction with enforcement bodies when fighting crimes in the banks. The most radical idea is to give access to bank secrets to enforcement bodies and hold them accountable, both criminally and by property, for information disclosure.

“Legally or not, they have the access all the same,” Golubev reasoned. By lifting the ban, CBR hopes to improve detection of bank crimes, as the evidences generated through violation of laws aren’t deemed valid in the course of the trial.

But representatives of Prosecutor General Office and Interior Ministry were apparently unready for such extension of authority. Evgeny Malashenko, who stood for the prosecutors at the meeting, even predicted that disclosure would lead to bacchanalia, especially in view of the insufficient level of education of a lot of enforcement employees.

The analysts are equally apprehensive. “The CBR proposal means that any investigator may come to a bank any time and demand any documents related to clients,” said Liniya Prava lawyer Alexander Evstigneev. “It opens infinite possibilities for abuse by enforcement bodies.”

Posté par CFRIES à 11:15 - Banque & Assurance - Permalien [#]