MOSCOW, March 25 (RAPSI) – The Russian government's legislative commission has approved a bill that would criminalize the production of equipment designed to steal e-money, the cabinet announced Tuesday.

The explanatory note says that the bill is “aimed at strengthening the penalties for high-tech banking crime related to the theft of money.”

The bill introduces liability for the production and sale of electronic devices and software that is designed to steal money or carry out non-cash transfers.

Amendments to “Article 187 of the Criminal Code were proposed because of the growing number of crimes that make use of these devices, as well as due to the introduction of the term 'electronic payment instrument' in Russian legislation,” the statement reads.

The bill's authors believe that these changes will improve the situation on the distance banking services market and reduce the risk of making payments online.

The bill is to be considered at a government meeting.