Breaches of Russian currency legislation increase in Tatarstan

(Kazan, September 1, Tatar-inform, Sergei Semerkin). The number of people held responsible for violating Russian currency legislation has over the past year considerably increased.

In 2008, a total of 14,635 rulings prescribing fines were issued in Russia, over the 6 months in 2009 the number of rulings prescribing fines has been 11,763. In Tatarstan, fines were in 2008 imposed for the amount of 10 million roubles, while over the 7 months in 2009 for 540 million roubles.

The data was today presented during briefing at the Cabinet of Ministers by the Tatarstan branch of the Federal Service of Financial Budgetary Oversight Anvas Adyev.

According to him, the substantial growth in the number of detected offences related to currency regulations is linked with an informational exchange system established in 2008 between Russia’s Central Bank and the Rosfinnadzor financial oversight authority.

Considering that the Central Bank of Russia forms information based on the data obtained from authorised banks, no transaction with non-residents can evade financial control.

As a result of joint efforts between the territorial division and the Tatarstan branch of the Federal Security Service, Tatarstan Prosecutor’s Office and Tatarstan Interior Ministry, incidents of exporting capital in the amount of over 2.1 billion roubles in 2008-2009 have been detected.