The Federal Law was drafted in execution of Clause 17(a) of the National Anti-Corruption Plan for 2018–2020.
The Federal Law sets forth a mechanism making it possible to forfeit in favour of the Russian Federation the funds received on accounts with banks or other credit institutions of an individual who holds a position that requires him or her to provide information on incomes, assets and liabilities. The same concerns an individual who held such a position and who resigned prior to verifying the authenticity and completeness of the above-mentioned information. Both provisions shall apply if the sum total of such funds exceeds the overall incomes of the above-mentioned individuals during the reporting period and over two preceding years, and if authentic information confirming the legality of obtaining these funds has not been submitted with regard to them.