The number of fly-by-night firms in Russia fell to 120K last year, according to a Rosfinmonitoring report.
According to Russia’s Federal Service for Financial Monitoring (Rosfinmonitoring), the total amount of suspicious financial transactions fell by 40% in 2019. The number of operations to convert noncash assets to cash decreased by 45%, and the outflow of capital also decreased sharply.
Analysts believe the shadow economy has shrunk due to preventive measures that were taken by banks. In particular, banks began to refuse suspicious clients more often, Prime reports.
As a result, in 2019, 15% more funds were stopped from flowing into illegal circulation than in 2018.