The State Duma has taken another step in tightening oversight on fundraising by individuals, approving in the first reading a bill that imposes penalties for illegally attracting investments from private citizens. The news was reported by TASS and reflects a broader push to curb unauthorized financial solicitations.
The bill, introduced in September 2023 by a group of deputies and senators led by Anatoly Aksakov, targets a range of covert fundraising practices. It adds a new article to the Administrative Offenses Code that addresses illegal services performed for the purpose of collecting money from citizens. Individuals who engage in these activities would face fines from five thousand to thirty thousand rubles, while officials would incur fines from twenty thousand to fifty thousand rubles. Individual entrepreneurs would be warned with fines in the same range, or could face a suspension of activities for up to sixty days.
Legal entities that illegally provide such services would be liable to fines between three hundred thousand and five hundred thousand rubles or a suspension of activities for up to two months. The bill also introduces stricter penalties for directly collecting donations from citizens without proper authorization. For individuals, the fine ranges from thirty thousand to fifty thousand rubles, and for officials from fifty thousand to one hundred thousand rubles. The maximum fine for individual entrepreneurs can reach one hundred thousand rubles, whereas for legal entities it can go up to one million rubles.
The aim of the measure is to prevent organizations that lack supervision by the Bank of Russia and do not possess legitimate authority from taking funds from citizens. It is presented as a complement to a previously enacted ban on such activities, reinforcing the government’s stance on unregulated fundraising. Observers note that the bill fits into a broader framework of consumer protection and financial market integrity, signaling a move toward clearer rules for fundraising operations and accountability for all types of entities involved.
Earlier discussions among lawmakers touched on broader fiscal reforms, including the potential introduction of a progressive taxation framework in the Russian Federation. The dialogue highlighted a spectrum of views on how to balance taxation with growth while ensuring fairness across different income groups. In related debate, some members questioned the prudence of reducing taxes on deposits, emphasizing the need for measured policies that support financial stability and public revenue.
As the bill advances through the legislative process, analysts caution that the practical enforcement of these provisions will depend on administrative clarity and the capacity of law enforcement and regulatory agencies to monitor fundraising activities nationwide. Stakeholders await further amendments and the eventual second and third readings that will determine whether these provisions become law and how they will be implemented in the coming years. (Source: TASS)
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