RUSSIAN REGULATION FACES TOUGH TASK TO REIN IN MONEY LAUNDERING, SAY EXPERTS
March 1st, 2010
BY MIRIAM ELDER
WHILE the government of the Russian Federation has made real efforts to fight money laundering - as documented recently in the Money Laundering Bulletin - the problem remains rampant in this resource-rich country, according to Russian and international experts.
Estimates on how much money Russians launder vary widely - ranging from the tens of billions of dollars to US$300 billion per year. According to Yury Shalakov, head of the interior ministry's economic security department, money laundering comprises 30% of economic crimes in Russia. ...
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