In 2022, the Russian banking sector saw a 5% decline in suspicious transactions, dropping to 100 billion rubles from 105 billion rubles the previous year, according to the Bank of Russia’s press service.
The year 2022 recorded 100 billion rubles in what regulators classify as suspicious transactions, a decrease from 105 billion rubles noted a year earlier. The Central Bank attributed part of this drop to the Know Your Customer platform, which the regulator introduced to strengthen client verification and reduce illicit activity within financial institutions.
Further details show that illegal withdrawals to abroad reached 36 billion rubles in 2022. This figure marks the lowest level observed during the entire monitoring period, representing a 16% decrease compared with 2021. The decline was driven in part by a 1.6-fold reduction in doubtful advance payments for imported goods, which helped curb potential cross-border leakage and related financial risks.
During 2022, the Bank of Russia reported that losses recorded by the regulator reached 721 billion rubles, a notable rise from 26.3 billion rubles in the previous year, representing more than a twenty-sevenfold increase. The rise reflects shifts in the regulatory environment and the broader assessment of financial vulnerabilities, rather than a single year’s operational loss.
Earlier in the year, authorities extended a temporary restriction on stock trading in blocked securities through October 1. This measure was part of ongoing supervision aimed at stabilizing markets and limiting potential exposure to assets under heightened regulatory scrutiny.
Overall, these indicators illustrate how supervisory initiatives and enhanced due diligence measures have influenced the pattern of suspicious activity and regulatory outcomes in 2022. Analysts note that the combined effect of improved customer verification, tighter controls on cross-border payments, and market restrictions contributed to more robust risk management across the Russian banking sector. The Bank of Russia continues to monitor trends and adjust frameworks to address evolving financial crime risks while maintaining market stability for investors and consumers alike. (at Bank of Russia press service)