The Ministry of Justice and the Central Bank decided to prohibit the withdrawal of money abroad on orders of execution
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The Ministry of Justice and the Central Bank decided to prohibit the withdrawal of money abroad on orders of execution

25 January , 09:12Society
The Ministry of Justice and the Central Bank, together with market participants, have begun to develop a bill, according to which the transfer of funds under orders of execution immediately to foreign accounts will be prohibited.

To receive a refund, an organization or a citizen will need to have an account with a Russian bank.

This is reported by RBC, referring to a representative of the Ministry of Justice, the new rule will also apply to non-residents.

Amendments to the current legislation began to be discussed back in 2019. However, then comments were made on the document, and therefore the work is still ongoing. The first edition of the document was not considered by the government, specifying that a comprehensive approach is needed to solve the problem. It has now been decided to return to the question.

Coming into force, the amendments will minimize transfers in favor of “unscrupulous claimants” who thus launder money and evade taxes. According to the Central Bank, we are talking about the elaboration of comprehensive changes in the legislation in order to combat dubious transactions through enforcement orders.

The publication notes that the Central Bank did not comment on the possibility of transfers abroad on executive documents.

Note that the legalization and withdrawal of funds of dubious origin from the territory of the Russian Federation through orders of execution began to be publicly discussed after the so-called "Moldovan scheme" was disclosed in 2017. The scheme involved the transfer of money from a Russian debtor firm to a foreign counterparty by a court decision. Let us remind you that the fugitive banker German Gorbuntsov was an active participant in the “Moldovan scheme”. In 2019, his own Telegram channel was the first to announce the initiation of a criminal case against Gorbuntsov.

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