On March 20, The Guardian newspaper reported that billions of dollars of laundered money originating in Russia ended up passing through the systems of some of the biggest names in global banking. Those names included such industry giants as Bank of China, Credit Suisse, Deutsche Bank and Citibank, as well as high-profile United Kingdom lenders including HSBC, Barclays, Standard Chartered and Royal Bank of Scotland (RBS). In a criminal operation that has come to be known as the “Laundromat”, it is estimated that from 2010 to 2014, a minimum of $20.8 billion of laundered funds from Russia was sent to financial institutions in Moldova and Latvia, before eventually being transmitted through 96 countries worldwide.
May 23, 2017 at 10:25AM
from Anti-Corruption Digest
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