Russian Justice Ministry Proposes Increasing Fines for Economic Crimes by 1.5 to 2 Times

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The Ministry of Justice has prepared a draft of amendments to the Criminal Code, which envisage an increase in the maximum thresholds for fines in criminal cases related to economic offenses, according to "Vedomosti".

Fines for economic crimes (from fraud to tax evasion) are proposed to be increased by 1.5–2 times. For example, the fine for copyright infringement may increase from 200 thousand to 1 million rubles, for causing particularly large damage — from 500 thousand to 2.5 million rubles, and for fraud — from 1 million to 1.5 million rubles.

The need to increase fines is explained by inflationary processes to ensure the adequacy of punishment. The government has already approved this initiative.