Ministry of Justice

The authorities cover up the so-called Moldovan scheme to withdraw money abroadpopular in the last decade. The Ministry of Justice has developed and sent for interdepartmental approval a bill prohibiting the transfer of funds under orders of execution to accounts in foreign financial organizations… Izvestia was informed about this in the ministry. The Central Bank expects that the amendments will minimize the withdrawal of money abroad; the changes were also supported by Rosfinmonitoring. but the banking and business communities fear that the innovation will create difficulties for honest business.

Within the country

Changes limiting the use of writs of execution are planned to be formalized in the form of amendments to the Federal Law “On Enforcement Proceedings”, the Ministry of Justice noted. The department clarified to Izvestia that it is planned to create a mechanism for transferring funds subject to collection on the basis of executive documents, exclusively to the accounts of financial organizations registered in Russia.

The adoption of the bill will allow minimizing the cases of transferring funds in favor of unscrupulous claimantswith the aim of legalizing (laundering) the proceeds of crime, tax evasion and their further withdrawal outside the Russian Federation. Currently, the bill is undergoing the approval procedure with the interested federal executive bodies, the ministry said.

Photo: Izvestia / Zurab Javakhadze

The fact that the Ministry of Justice and the Central Bank began to develop a bill became known in early 2021. The adoption of the amendments will allow minimizing dubious operations to withdraw money abroad, the Central Bank agrees. Rosfinmonitoring supports changes, since this will make it possible to apply to the corresponding suspicious transactions the whole range of measures provided for by Russian law, the service told Izvestia.

Help “Izvestia”

Writs of execution are issued on the basis of decisions, sentences or other judicial acts. They are used, among other things, for the enforced collection of money from the debtor (legal entity or individual). Upon presentation of such a document, as well as those equal to it in status (notary’s executive notice, decisions of the labor dispute commission), the bank is obliged to immediately transfer funds from the debtor’s account in favor of the claimant. The scheme for withdrawing money abroad according to executive documents became widely known in the context of the “Moldovan Laundromat” that operated in 2011-2014, when about $ 20 billion was withdrawn from Russia. returning a loan to a dummy firm in Moldova. It was the writ of execution that served as the basis for the transfer of funds.

According to the Bank of Russia, in general, the volume of money withdrawn abroad in the first half of 2021 increased from 18 billion to 20 billion rubles. According to the regulator for 2020, the problem of using executive documents (mainly executive notaries’ notaries and certification of labor dispute commissions) for cashing out funds has worsened: the volume of this fraudulent scheme increased by more than 60% compared to 2019, to 25 billion rubles.

If the funds under the executive documents will go exclusively to Russian banks, then the credit institution accepting the transfer will be able to verify it and, if necessary, take measures to combat money laundering, said the deputy chairman of the board of the bank “Renaissance Credit” Sergei Korolev.

Mission impossible

The banking community supports the proposal of the Ministry of Justice, but it will not have a significant effect on reducing fraud using fake enforcement orders, Deputy Head of the National Council of the Financial Market Alexander Naumov told Izvestia… He explained that lately, the main share of abuses with executive documents occurs within the country, and not abroad. Credit organizations suggested using the FSSP database and expanding the list of mandatory details for verifying the authenticity of executive documents in it, Alexander Naumov explained.


Photo: Izvestia / Pavel Bednyakov

A common effective approach is needed in the fight against writs of execution, the real goals of which are dubious transactions… At the moment, there are several recommendations for dealing with such documents, but there is no single effective comprehensive method, – agrees the head of the financial monitoring department of Zenit Bank Lyudmila Sokolova.

When introducing amendments, it is necessary to take into account the interests of bona fide participants in the business turnover, added the head of the legal department of the ICB Irina Gudkova… For non-residents, for example, opening a bank account may incur additional commission costs, she added.

Business representatives also saw the risks for bona fide market participants. Taking into account the existing problems with attracting investments and counterparties, as well as a number of questions from their side to the system of enforcement and court proceedings in Russia, the innovation may lead to a refusal to interact with national companies, fears Alexey Mostovshchikov, a member of the General Council of Delovaya Rossiya. It makes no sense to impose restrictions on the entire business due to individual players abusing the rules, he said.

Moreover, the bill imposes an additional burden on banks in the form of performing the functions of the judicial system, since the sending bank, in accordance with anti-legalization legislation, must warn the receiving bank about the origin of funds, said the lawyer of the Moscow Bar Association “Avangard” Alexei Mishin. He added: if the bank does not carry out the operation in accordance with the executive document, an administrative fine may be imposed on it.

At the same time, capital outflow from Russia abroad amounts to billions of dollars, so the proposed changes are more than relevant., says Alexey Gavrishev, managing partner of the law firm AVG Legal. According to him, the scheme for withdrawing funds under orders of execution is currently one of the most popular for criminals, as well as the most difficult to detect by law enforcement agencies.

Leave a Reply