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[Second Issue of the Day]
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Illegal capital flight put at up to $1.5 bln per month
MOSCOW. Jan 23 (Interfax) - Illegal capital flight from Russia amounts to $1 billion to $1.5 billion per month, according to various estimates, Federal Tax Police chief Mikhail Fradkov said on Tuesday.
"In our country laundering of illegal income is closely tied to illegal capital flight abroad," Fradkov said during an Internet conference.
Not a single security agency is capable of handling this problem on its own, so the tax police is improving cooperation with other relevant agencies, he said.
"Right now we are shifting contacts with our foreign colleagues onto a course of concrete informational and rapid-reaction cooperation. It think that the more active our cooperation is, the more effectively we'll be able to fight transnational criminal groups, money laundering and capital flight," Fradkov said.
He said fly-by-night firms usually play a key role in illegal money transfers abroad. Fradkov recalled that 20 Moscow banks inspected by the tax police alone transferred about $5 billion abroad through such firms.
Fictitious firms taking part in foreign economic operations often commit major fraud, undermining the country's reputation, Fradkov said.
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