Bahtin R.V. The outflow of capital overseas. New ways of cash outflow within the action of the Customs Union

Abstract: Countering the illegal financial operations, pertaining to transferring money out of our country, along with carrying out the fiscal functions, is one of the main activities of the Federal Customs Service of Russia. The author emphasizes the fact that the customs authorities, being agents of the foreign exchange control, conduct currency control across the entire foreign trade turnover of Russia, while not emulating the work of other control agencies. The subject of research of this article is the work of the customs authorities that is aimed at uncovering illegal schemes of transferring money offshore, as well as the difficult issues emerging in the process of doing so. In the process of working on this article, the author uses knowledge gained from personal work in this field, and as a result, offers ways to solve problems arising in the work of the customs authorities, including the legislative vacuum. The scientific novelty of the specific part to which this work is dedicated, consists of the fact that the establishment of the Customs Union has also allowed for creation of new ways of transferring money abroad. The flaws within legislation, as well as the differences of the regulatory acts of the member states of the Customs Union created conditions for an uncontrolled transfer of funds overseas, which destabilizes the economy of our nation. If implemented, the proposed ways of solving this issue would help Russia’s customs authorities rectify the situation.

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