MOSCOW, Dec 26 (PRIME) -- Russia’s Digital Development Ministry has finished work on a bill introducing turnover-based fines for leaks of personal data at companies that raises penalty from 5 million to 500 million rubles from the current maximum penalty of 500,000 rubles, business daily Kommersant reported on Monday.
If approved, the initiative will come in force in September 2023, a source familiar with the final version of the document told the daily.
The source added that a 500 million ruble fine will be slapped on the companies that will miss a repeated leak of data or try to hush an incident after adoption of the law. The fine will depend on the company’s revenue for a calendar year preceding the year when the leak occurs.
Minister Maksut Shadayev said earlier that the authority suggested introducing a fine for companies that had spilled personal data at the amount of up to 3% of their turnover.
(68.6760 rubles – U.S. $1)
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