A significant update in Russia’s financial security and law enforcement sector — President Vladimir Putin has signed a law granting investigation and inquiry authorities the right to freeze suspects’ funds in bank accounts for up to 10 days during pre-trial proceedings, reports dw.com.
These legal changes will be added to the Criminal Procedure Code, with the document having been approved by the State Duma on July 22 and the Federation Council on July 25. Now, investigative bodies, if there are grounds to believe that funds in a suspect’s accounts are connected to criminal activity, can fully halt financial transactions.
According to the new regulations, an account may be frozen for up to 10 days. After this period, a final decision to arrest the account or lift the freeze is made by the court. If there are no grounds to continue the freeze, the investigator must cancel their decision and immediately inform the bank or electronic money operator.
Additionally, under the law, banks and financial organizations must provide all necessary information to law enforcement authorities within 3 business days of receiving a request. If the request is sent electronically, the information must be provided within 24 hours.
Officials note that the new regulations will come into force on September 1, 2025, further enhancing law enforcement’s capabilities to combat financial crimes. Transparency in banking operations is expected to improve, and the ability to hide illegal funds in suspects’ accounts will be restricted.
Experts view this innovation as an important step toward increasing the effectiveness of pre-trial checks and strengthening financial security. Justice and order in the financial system are becoming an unquestionable priority.
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