Withdrawal of funds abroad on suspicious grounds decreased by 40%

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AK&M 30 September 2022 14:33

The withdrawal of funds abroad from the Russian Federation on suspicious grounds in the conditions of sanctions restrictions, violations of logistics of foreign trade payments and supplies of goods amounted to 12 billion rubles, a decrease of almost 40% year-on-year. This is reported by the Bank of Russia.

The reduction was mainly due to a decrease in the volume of suspicious advance payments for imported goods and transfers on securities transactions, the regulator emphasizes.

The volume of cash withdrawals in the banking sector reached 34 billion rubles, an increase of 10% compared to the same period in 2021.

Despite the general increase in cash withdrawal, there is a significant decrease in the use of executive documents for these purposes by 3 times to 6 billion rubles.

The volume of cash withdrawals outside the banking sector as a whole remained at the level of the first half of 2021. The main demand for shadow financial services in the first half of 2022, as in the same period of the previous year, was formed in the construction sector (40%), trade (27%) and the services sector (21%).