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Illegal Capital Flight Down

Illegal capital flight from the country dropped 6.8 percent last year after jumping more than 20-fold in 2009, Interfax reported, citing Sergei Pavlenko, head of the Federal Service for Financial and Budgetary Inspection.

Criminals pulled 163 billion rubles ($5.7 billion) from the country in 2010, compared with 175 billion rubles a year earlier and 8 billion rubles in 2008, Pavlenko was cited as saying.

The transfers, averaging $250,000 to $400,000, usually involve sending funds abroad as part of a fake business transaction using stolen or forged documents, Pavlenko said, Interfax reported.

(Bloomberg)

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