Purpose: The forest sector in Russia is of great ecological, economic and social importance not only locally, but also globally. Digitalization of society, of course, entails a change in financial, economic and legal postulates. The article indicates the interconnection between the economic security of the Russian Federation and security of forest industry. Design / Methodology / Approach: The article reveals the prospects of economic security of forest industry on the basis of the analysis of statistical data on crimes committed and the historical background of Russian forest industry. Results: On the basis of the conducted research the author gives recommendations on choosing the strategy for development of forestry in Russia, represents statistical data on crimes committed in forest industry. Practical implications: The applied value of the study is expressed in highlighting the ways of Russian forest industry development as a vital element of Russian economy and economic security in the context of modern development of society. Originality/Value: The originality of the author's approach is in summarizing the findings on the basis of regional, historical and legal analysis taking into account the transformation of economic systems and the modernization of the world community.