Cash withdrawal volumes in the first half of 2024 decreased by 25% to 27.8 billion rubles, calculated by the Bank of Russia.
This trend is primarily driven by a reduction in cash withdrawals using payment cards by legal entities and individual entrepreneurs (more than twice) and by enforcement documents (four times).
Transactions that exhibit signs of capital outflow abroad decreased by 32% to 8.4 billion rubles.
The main demand for shadow financial services continues to be formed in the construction sector, services, and trade.
The reduction in suspicious transactions is facilitated by the operation of the ZSK Platform. In the two years since its establishment, banks have prevented more than 130 billion rubles from flowing into the shadow economy. Since July of this year, by law, tax authorities have been removing legal entities and individual entrepreneurs (IEs) from the Unified State Register of Legal Entities (EGRUL) and the Unified State Register of Individual Entrepreneurs (EGRIP), which banks and the Bank of Russia classified as high-risk groups. The regulator has sent information about more than 70,000 such companies and IEs to the Federal Tax Service of Russia.
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