Behind the long ruble: how currency "money changers" work in large markets
Foreign citizens who trade in large markets of Russian cities circumvent legal ways to convert rubles into foreign currency. According to a source among merchants, some guests from abroad find our taxes too high and the rules too complicated, so a significant amount of financial transactions are carried out at illegal exchange points. Another problem — cashless turnover in settlements with wholesalers — is solved by using drop cards with Russian passports. How the illegal banking activities of large markets are structured is described in the Izvestia article.
Where will they give back
A source from Izvestia at one of the capital's wholesale markets spoke about how large amounts of money are exchanged in foreign currency. According to him, there are several inconspicuous rooms with blind windows on the territory of the fair, where, according to a previously submitted application (usually per day), you can exchange rubles, yuan, euros, dollars in almost any volume. You can also make a cryptocurrency transfer there. This exchange is international, it is used by foreign merchants and Russians. Another exchange office is located on the second floor in one of the pavilions nearby. You can easily exchange money there without unnecessary formalities — also by prior call. Money changers are allowed in by a code word. Similar underground exchangers operate in some other Moscow markets. (The addresses of illegal exchange offices are available to the editorial staff).
— In fact, this is illegal banking activity that is being conducted in front of everyone, — says the source of Izvestia. — Huge amounts of funds pass through these exchangers every day, bypassing civilized financial institutions, and, as a result, they escape the eyes of the tax service and other regulators.
Vietnamese businessmen who came to Moscow back in the 90s were the first to master the illegal exchange, says a law enforcement source.
— There were several clothing markets in Moscow, which were called "Vietnamese," — says the policeman. — It is simply impossible to penetrate into a mono-ethnic community, given the code of silence characteristic of this people.
How it works
Today, the problem of circumventing standard banking procedures and tax controls is quite acute, especially in the field of small and medium-sized businesses in large markets, says Alexander Zaitsev, a financial security expert, specialist in Asian diasporas in Russia, retired Interior Ministry officer.
— The settlement system, bypassing Russian banks, is often used by foreign businessmen to minimize tax costs and simplify money turnover, — says Zaitsev. — Such illegal exchangers are located in large markets, where, in particular, merchants from China are concentrated.
Underground exchangers operate almost unnoticed, providing services exclusively to their regular customers based on ethnicity.
— This is a problem for law enforcement agencies — they do not have an easy way to identify and eliminate such points, — says Zaitsev. — Exchangers provide clients with a full range of "shadow" financial services: from exchanging rubles for other currencies to transferring funds to cryptocurrency. These exchangers are usually operated by entire families of Chinese citizens, which makes them more resistant to possible legal attacks.
Such systems violate the tax legislation of the Russian Federation and enhance the development of the shadow economy, says the police colonel.
"This not only destabilizes the financial system, but also creates a fertile ground for money laundering and financing other illegal operations.
To combat this phenomenon, it is necessary to strengthen interdepartmental cooperation, including the work of the police, tax authorities and financial monitoring services, the former Interior Ministry officer believes.
In his opinion, an integrated approach and stricter control over the activities of large trading platforms can help in the fight against shadow exchanges and improve the situation of honest business, — says the interlocutor of Izvestia.
An unsolved problem
"Today, we can say with confidence that any ethnic market has its own exchangers," says banking analyst Artur Trofimov.
According to him, this is primarily due to the huge turnover of cash that flows inside these trade agglomerations. Naturally, exchangers are also built on the principle of fellowships. People from China, Vietnam and Azerbaijan are mainly involved in such operations, the specialist says.
— The presence of an ethnic component is the best guarantee of privacy and security — an outsider will simply never know that an exchange is operating inside the pavilion with shoes and bags displayed outside. The Central Bank estimates the shadow trade turnover in these centers at more than 600 billion rubles per month, and in the whole country — 2.2–3.1 trillion rubles, — the expert explained.
Cards of individuals
The real problem for entrepreneurs from East and Southeast Asia is the transfer of cash to non-cash.
— Wholesalers from the regions, and they primarily operate with substantial amounts, are not always ready to pay in cash. After all, it's just not safe to carry around so many banknotes. In the competition, the foreigner who will allow you to pay by transfer wins. These transfers are usually split up and sent to different cards to avoid being blocked. However, this can hardly be called safe for the cardholder — he is very likely to have problems with regulatory authorities," the expert says.
Lawyer Ekaterina Krasnova commented on the situation with the use of individual cards for wholesale trade.
— Situations where foreigners ask Russians to provide bank cards for payments may be related to illegal money laundering or fraud. Participation in such schemes carries serious legal risks, including criminal liability and financial losses, so it is important to avoid such offers and, if necessary, consult with a lawyer. And, of course, a person may have significant difficulties with the tax — there is a risk of personal income tax accrual from all amounts.
Переведено сервисом «Яндекс Переводчик»
