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The Central Bank reported a reduction in the volume of suspicious transactions in the first half of the year by 9%



In the first half of 2023, the volume of suspicious transactions decreased by 9%, it says in the commentary of the Bank of Russia.

In the reporting period, the volume of transactions with signs of withdrawal of funds abroad reached 12 billion rubles. The regulator noted that the indicator remained at the level of the first half of 2022, while decreasing by almost half compared to the previous reporting period. In the first half of 2022, the volumes of such operations were minimal due to the restructuring of logistics, the Central Bank specified. As for the structure of withdrawal of funds, the majority of such transactions – 58% – account for advance payments for imported goods without their subsequent import.

The Central Bank notes a 13% decrease in the volume of cash withdrawals in all sectors of the economy compared to last year, while in the banking sector they decreased by 5% – to 32 billion rubles. The volume of suspicious transactions involving cash withdrawals from the accounts of legal entities has more than halved. The regulator explained this dynamics with the introduction of the Know Your Client platform. The volume of transactions using executive documents also decreased.

But there are growing attempts to use bank cards and accounts of individuals, which receive funds from high-risk firms. At the end of the first half of the year, their number increased by 1.4 times.

Outside the banking sector, cash withdrawal volumes also decreased – to 10 billion rubles, which is 30% lower than the first half of 2022. Shadow financial services are most in demand in the construction industry (37%), as well as trade (29%), service sector (19 %) and production (14%).

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