Penalties for Infringement of Data of Financial, Commercial, Economic Institutions using IT

Welcome to our comprehensive guide on the penalties for infringement of data pertaining to financial, commercial, or economic institutions using information technology. In this article, we will delve into the details of Article 8 of the Federal Decree-Law No.34 of 2021 on Combatting Rumors and Cybercrimes, which outlines the legal repercussions for unauthorized access, manipulation, and dissemination of confidential information through digital means. By understanding these penalties, individuals and organizations can navigate the digital landscape in compliance with the law and safeguard sensitive data.

Article 8: Understanding the Scope

Article 8 of the Federal Decree-Law No.34 of 2021 plays a crucial role in combatting cybercrimes and protecting the integrity of financial, commercial, and economic institutions. The article encompasses a wide range of actions related to confidential information and data accessed or shared using information technology or any related means. Let’s explore the various activities that fall under the purview of this legislation:

1. Obtaining, Acquiring, or Modifying Data: Any unauthorized attempt to access, obtain, or modify confidential data associated with financial, commercial, or economic institutions through information technology falls under this category. Whether it involves hacking, unauthorized access to databases, or tampering with digital records, such actions are deemed unlawful.
2. Destruction or Divulgence of Data: Willfully destroying or disclosing confidential information pertaining to financial, commercial, or economic institutions using information technology is strictly prohibited. This includes intentional deletion, damage to data storage systems, or sharing sensitive information without proper authorization.
3. Making Data Available or Reproducing It: Unauthorized dissemination or reproduction of confidential data related to financial, commercial, or economic institutions through digital means is a direct violation of the law. This includes publishing, republishing, or making such data available to unauthorized individuals or entities.

Penalties for Infringement

Understanding the penalties associated with infringement of data is crucial for individuals and organizations operating in the digital landscape. Article 8 of the Federal Decree-Law No.34 of 2021 specifies the consequences for engaging in unauthorized activities involving confidential information of financial, commercial, or economic institutions. Let’s explore the penalties in detail:

1. Temporary Imprisonment: Individuals found guilty of infringing upon the data of financial, commercial, or economic institutions using information technology may face temporary imprisonment. The minimum term of imprisonment is set at five years, demonstrating the seriousness of such offenses.
2. Monetary Fine: In addition to temporary imprisonment, offenders may also be liable to pay a fine ranging between AED 500,000 and AED 3,000,000. The exact amount of the fine is determined based on the severity and impact of the infringement, emphasizing the significance of safeguarding confidential data.

Promoting Legal Culture and Awareness

The Public Prosecution is committed to promoting legal culture and increasing awareness about the latest legislations in the country. By explaining the penalties for infringement of data through social media channels and various communication platforms, the Public Prosecution aims to empower individuals and organizations to navigate the digital landscape responsibly. It is crucial to stay informed about the laws and regulations surrounding information technology to ensure compliance and protect the integrity of financial, commercial, and economic institutions.

Conclusion

In conclusion, the penalties for infringement of data pertaining to financial, commercial, or economic institutions using information technology are severe and aimed at protecting the interests of individuals and organizations in the digital age. Article 8 of the Federal Decree-Law No.34 of 2021 serves as a deterrent to unauthorized access, manipulation, and dissemination of confidential information, reinforcing the importance of data security.