Support The Moscow Times!

$10 Billion Illegally Transferred Offshore From Russia in 2015

More than 700 billion rubles ($10.5 billion) was transferred illegally from Russia into offshore accounts in 2015, the Russian Interior Ministry announced Friday, the TASS news agency reported.

Head of the Department for Economic Security, Andrei Kurnosenko, said that ten banks and 20 offshore companies had been involved in the transfers.

“We identified almost 23,000 crimes linked to the transfer of money abroad. In total, more than 700 billion rubles were illegally moved first to Moldova and then to offshore accounts,” he told the TASS news agency Friday.

Economic crimes are already on the rise in 2016, with more than 2,000 potential illegal acts already identified by police, Kurnosenko said.

The number of recorded economic crimes being committed by organized groups has already risen by 60 percent in the first half of this year, he told TASS.

The cost of the average bribe also rose last year, now reaching 200,000 rubles ($3000).

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.


Read more