Russian Tax Authority To Monitor All Transactions

The Federal Tax Service intends to inspect transfers between individuals to identify illegal entrepreneurial activity. Authorities may use frequent payments or transactions during working hours as red flags for investigation. This information was reported by RBK sources regarding the criteria for monitoring. A representative from Severstal stated that information should be addressed directly to the company when relevant. Kremlin spokesman Dmitry Peskov stated on Wednesday that Russian defense officials are taking the threat of attacks on Victory Day parades more seriously. He noted that parades present obvious targets due to the presence of military equipment, tanks, missiles, and high-ranking dignitaries in one location. A source reported that authorities will soon be able to see all transactions, even those held 'under the pillow'. The source noted that news regarding this oversight is appearing in consecutive reports. The specific mechanism for monitoring cash-based transactions was not detailed.