If you decide to go around Moscow with $1 Million in your bag, here is an advice: Don't. It sounds like a silly advice, doesn't it? But it is not.

In Russia, where banking system is different from the rest of the world (think no checks, slow money transfers and complete distrust in banks), population relies on cash. Most of the residential real estate deals are cash-only. Same with cars and other expensive purchases. Hence, there are many robberies with prizes which will make US bank robbers loose their appetite.

Yesterday, three armed men robbed a businessman, who was driving with his wife and child in the car. The robbers blocked the car at the curb and took the bag with $500.000 and 14.000.000 rubles ($1 million total). The victim explained that he just sold his apartment and was going to deposit the money to the bank.

So, what should you do when you decide to buy an apartment in Moscow? Here is another advice: Don't. Just rent.

P.S. But there is one comforting thought in all this for all those unemployed MBA graduates thinking about selling their iPhone and hopping on an Aeroflot flight to Moscow: If robbers often succeed in stealing millions in cash, then you can probably earn it, with so much money going around. Actually, Russia and Iraq might be the only two countries where it's still possible. So, do sell the iPhone.

Send email to Tatyana Foley, the author of this post, at tfoley@readrussia.com.

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