The Department of Investigation and Operational Intelligence of the RA SRC, within the scope of the functions assigned to it by law, has strengthened the activities carried out in the direction of controlling the circulation of cash transferred to RA through the air and land borders, in order to ensure financial transparency and prevent possible violations.

In particular, during the operational-investigative measures, the Investigation and Operational Intelligence Department of the RA SRC received operative information that some citizens arrived in the Republic of Armenia by air and brought with them a total of 113 million Russian rubles in cash.

After arriving in RA, from “Zvartnots” airport, on the basis of a reasonable suspicion of committing a crime under the relevant article of the RA Criminal Code, the employees of the Investigation and Operational Intelligence Department took those persons into custody. They were brought to the SRC investigation and operational intelligence department, where they were arrested. In addition, as a result of the operative-intelligence measures taken by the employees of the RA SRC investigation and operational-intelligence department, information was also obtained that a number of citizens, upon arriving in the Republic of Armenia, regularly brought with them cash from 18 to 100 million Russian rubles. It was found that the imported cash was handed over to some foreign currency exchange points operating in Yerevan.

The persons who transferred cash, violating the requirements of the RA Law “On Currency Regulation and Currency Control”, handed them over to the employees of some exchange points. Without appropriate formalities and documentation, cash Russian rubles were exchanged for US dollars, which were later exported. The information was forwarded to the Central Bank of the Republic of Armenia in order to discuss the issue of administrative responsibility and resolve the further process. The performed analyzes give reason to assume that the foreign currency imported in cash is not only exchanged without proper formalities at the exchange points, which is later exported, but there are also risks that the said cash is invested shadowily in various branches of the economy, with the aim of hiding the real taxable objects.

SRC urges business entities dealing in foreign currency to comply with the requirements of the laws regulating currency relations and other legal acts adopted based on them, and citizens, in order to avoid possible risks, refrain from transporting large amounts of cash and carry out financial transactions through bank transfers, which are safer and more transparent.

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