INVESTIGATIVE JOURNALIST CONSORTIUM DETAILS SOPHISTICATED ‘RUSSIAN LAUNDROMAT’ MONEY LAUNDERING SCHEME
March 1st, 2017
A CONSORTIUM of investigative journalists has claimed to have identified a model showing how a Russia-based money laundering scheme moved at least USD20.8 billion out of the country, via Moldova and Latvia. Significant portions of this money was transferred to accounts held by western banks including Britain’s HSBC and Coutts, the Bank of America and other major financial institutions, said the Organized Crime and Corruption Reporting Project (OCCRP). It is an international grouping, with a focus on Russia and eastern Europe. The group has been probing the ...
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