Fictitious operations involve transactions that are carried out for purposes other than those stated, Sergei Ignatyev told the hearings at the State Duma, the lower house of Russia's parliament.
"Overall, the volume of such operations amounts to 1,500-2,000 billion rubles ($57-76 billion) a year," Ignatyev said.
Operations to debit cash for allegedly legal purposes are the most widespread type of fictitious banking transactions. In reality, cash goes to pay "gray" wages, offer bribes and carry out other illegal deals, Ignatyev said.
The monthly volume of cash debiting operations in the Russian banking sector is estimated at 50-80 billion rubles ($1.9-3 billion), the country's chief banker said.
Money transfers to the accounts of offshore foreign companies allegedly for the purpose of paying for goods or services without customs border crossing constitute another widespread type of fictitious deals, Ignatyev said.
"The real purpose of such operations is to pay for 'gray' imports, smuggle drugs, offer bribes, etc.," Ignatyev said, adding that such operations are carried out with the involvement of "shell" companies.
Offshore money transfer transactions are estimated at $3-4 billion a month, the country's chief banker said.
The Central Bank of Russia insists on its right to withdraw licenses from banks for the violation of the law on money laundering, Ignatyev said.
The CBR chairman made this statement following a proposal by some deputies to deprive the country's chief bank of the right to revoke banking licenses for violations on money laundering.
Since early 2005, the CBR has revoked licenses from 70 banks, or 6% of the total number of Russia's banks, for violations on money laundering, the chief banker said.
The Central Bank of Russia is also seeking to empower banks to deny dubious clients the right to open accounts, Ignatyev said.
"This requirement corresponds to the recommendations of the FATF [Financial Action Task Force]," Ignatyev said.
