Russians reveal $21bn money laundering scheme

2017-03-21 21:35


Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Helsinki - A Russian group of reporters say they have uncovered details of a complex system in which $21bn were allegedly transferred illegally out of the country through a network of banks.

Members of the anti-corruption group, which in 2014 exposed the so-called Laundromat - a criminal financial scheme for transferring large sums - say they now know who received the funds and how banks allegedly refused to shut it down.

The Organised Crime and Corruption Reporting Project said that reporters in Moscow obtained bank records that show that funds were transferred worldwide via 112 bank accounts in Eastern Europe.

The group said law enforcement agencies in Moldova, Latvia, Britain and Russia have investigated the scheme, but efforts were hampered in part by reluctance of Russian officials to co-operate.

Read more on:    russia

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.