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. Last Updated: 07/27/2016

Cash Flight In '94 Hit $50 Billion

Illegal flight of capital from Russia jumped fourfold to approximately $50 billion in 1994, an official of the Russian Interior Ministry Main Department on Economic Crimes told Interfax.


He said the flight of capital from Russia was rising monthly by $1.5 billion to $2 billion. The rate sharply exceeds that in 1993, when it was estimated at $12 billion to $15 billion.


Some of the money transferred abroad has been stolen and placed into commercial banks, the official said, reporting a total of 9,600 crimes in the credit-financial sphere last year, half of them involving stealing.


The loss reached 15 trillion rubles ($3.4 billion), the official said.


Law enforcement departments have received more than 3 million complaints from individuals about commercial enterprises failing to repay their money.