THE MINISTRY OF INTERNAL AFFAIRS OF THE RUSSIAN FEDERATION, 16 November 2016
“Employees of the General Administration for Economic Security and Combating the Corruption of the Russian MIA detected an illegal scheme for withdrawal of money in foreign currency abroad through many-fold overstatement of the cost of imported goods,” said Russian MIA official representative Irina Volk.
According to the available information confirmed by documents, the malefactors had used banking details of dummy entities registered in the Kaliningrad Region to transfer funds to the bank accounts of the controlled non-resident under the guise of fulfillment of foreign trade contracts for supply of computer hardware and components. For that purpose, they had provided financial institutions acting as currency control agents with documents that contained false information about grounds, purposes and nature of transfers, namely about the cost of goods that had been artificially overstated hundreds of times subject to forged shipping documents – invoices. Continue reading “Article: Financial fraud involving illegal withdrawal of over RUB 1 bn abroad was solved by Russian MIA General Administration for Economic Security and Combating Corruption”
