The law project on criminal liability of Russian bankers and accountants for falsification of accounts will presumably come into force in 2012. According to the Minfin’s plan, amendments will be introduced to the Criminal Code of Russia. Criminal liability will be provided for mocking accounting documents which reflect economic operations of banks, adding significant corrections, providing knowingly false or incomplete data for the purpose of hiding one’s real financial position. The project will be jointly developed by the Ministry of Justice, the Ministry for Economic Development, the Minfin and the Central Bank. The innovation will expectedly better protect interests of creditors and deposit holders. The CB also plans to improve bankruptcy mechanisms for exactly the same purpose.