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Central Bank releases first stats on questionable banking operations

May 03, 17:51 UTC+3 MOSCOW

The Bank of Russia plans to meet bank CEOs to advise them about new schemes involving doubtful operations and behavioral patterns of their clients

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© Kirill Kukhmar/TASS

MOSCOW, May 3. /TASS/. The Bank of Russia has released its first assessment of the volumes and structure of questionable operations carried out by credit institutions and their clients. According to the regulator, cash withdrawals overseas equaled 96 bln rubles ($1.5 bln), while money cashing-in totaled 326 bln rubles ($5.1 bln) in 2017.

Individuals made almost half of cash withdrawals. That said, 152 bln rubles ($2.4 bln) were withdrawn from their accounts in total last year, including banking cards account. Withdrawals "for other purposes" and on cards of legal entities accounted for 135 bln rubles ($2.1 bln) or 41% of doubtful operations for cash receipt. Sole entrepreneurs took out 15 bln rubles ($236.3 mln) and other schemes undisclosed by the regulator totaled 24 bln rubles ($378.3 mln).

Withdrawals abroad are broken down into three approximately equal shares - pre-payments for imports (23 bln rubles or $362.5 mln), transfers on service transactions (21 bln rubles or $331.1 mln), and transfers under writs through the federal bailiffs service equal to 19 bln rubles ($299.6 mln).

Suspicious deals within the framework of importing goods within the customs union and transfers under securities transactions amounted to 13 bln rubles ($205 mln), each, the Bank of Russia says.

Cashing-in and withdrawals are preceded by the so-called higher risk transit operations, the Central Bank said. They are often accompanied by a change in grounds for incoming and outgoing payments and VAT ‘optimization’ for reduction purposes.

The Bank of Russia plans to issue regular updates on such information and meet bank CEOs to advise them about new schemes involving doubtful operations and behavioral patterns of their clients.

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