Russian Finance Ministry Reported How the Funds Confiscated from Corrupt Officials Are Allocated
OREANDA-NEWS. The funds confiscated in corruption cases of last year are used to pay insurance pensions to Russian citizens.
This follows from the draft report of the Ministry of Finance of the Russian Federation for an expanded meeting of its board, published on March 12. The assets received as a result of the sale of property confiscated as part of the fight against corruption are also sent to provide the same payments. It is noted that this measure entered into force in 2019.
On December 19, 2019, the intergovernmental organization Financial Action Task Force on Money Laundering recommended Russian authorities to fight corruption more actively and confiscate civil servants’ property if its legitimacy is not confirmed.