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Russia loses £52bn a year in tax evasion and illegal transfers, says bank chief

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Russia loses up to 1 trillion roubles (£20bn) a year in tax evasion schemes with a further £32bn leaving the country illicitly in 2012, senior officials have said. The central bank governor, Sergei Ignatiev, said that "shadowy operations" to transfer money abroad were worth the equivalent of about 2.5% of…

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