ST. PETERSBURG, July 13 (RAPSI) – The Ministry for Digital Development, Communications and Mass Media of the Russian Federation is preparing a bill on turnover-based fines for the personal data breach.
This additional responsibility is to put business up to invest in the development of the information safety infrastructure and the personal data protection, a statement released on the Ministry’s Telegram channel reads.
Currently, legal entities face fines of 500,000 rubles (about $8,500) for the leak of personal data.
The legislative proposal envisages that repeated violations would result in a turnover-based fine. It will be calculated as a percentage of the companies’ revenue. Thus, a company having revenue amounting to 100 billion rubles ($1.7 billion) will be subject to a turnover-based fine of 1 billion rubles ($17 million), according to the bill’s authors.
The initiative will also specify the object of a personal data breach and the way to determine guilt of a certain company.