The SFMS has uncovered a scheme of illegal financial transactions

The issue of financial transparency is key to the stable development of the state. Illegal financial schemes, tax evasion, legalization of proceeds and hidden conversion pose a serious threat to the country’s economic security.

“The SFMS, together with law enforcement agencies, revealed a scheme that included the provision of illegal services by a “professional network” to a group of companies aimed at tax evasion, income legalization and hidden conversion of non-cash funds into cash. Wholesalers and retailers of tobacco products, food and beverages were involved in the implementation of these schemes,” Filip Pronin said.

It is previously known that the enterprises carried out multi-million financial transactions. The case referrals have been provided to law enforcement agencies for further investigation.

A comprehensive approach and effective counteraction to illegal financial schemes will help ensure economic stability, business transparency and sustainable development of the country.