A special report published early last month by a consortium of investigative journalists, showing how financial criminals siphoned billions in ill-gotten gains from Russia through several Western banks, represents just the latest global money laundering scheme exposing gaps in anti-money laundering practices worldwide.
The exposé, published on March 4 by the Organized Crime and Corruption Reporting Project (OCCRP)—the group behind the “Panama Papers” and “Paradise Papers” leaks—and Lithuania news outlet 15min.It shows how a complex, interconnected network of at least 75 offshore companies were able to siphon $4.8 billion in ill-gotten gains from Russia through several Western banks between 2006 and 2013.
