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Payments & FinTech Lawyer

Information security for Russian banks: the latest developments

The Central Bank of the Russian Federation is keen to ensure the information security of Russian financial organisations, and to this end has established a number of mandatory regulations and standards in this area, the latter of which banks are able to adopt at their discretion. However, aside from other incentives, the Russian authorities have made it known that financial organisations following these guidelines are currently considered as compliant with Russian regulations on personal data protection. Anton Braginets of Dentons reviews these standards and the benefits for financial organisations in following them.

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