Support The Moscow Times!

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)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.