The Facilitation of Money Laundering Through Western Europe and the United States by Russian Organised Crime Groups

Abstract

Over the past decade the Russian Mafia has established itself as capable of causing serious disruptions within the world's financial markets. Organised crime groups control a substantial number of the banks within Russia and as a consequence they are capable of infiltrating major sources of money supply and taking control of legitimate businesses, both foreign and domestic. Once an organised crime group has entered the banking structure, it can expand its operations by using the veneer of legitimacy provided by the bank as a source of utility for further criminal ventures. The laundering of illegal proceeds, both national and international, has now become one of the major activities conducted by Russian organised crime groups in the former Soviet Union.

Citation

Johnstone, P. and Jones, M. (2000), "The Facilitation of Money Laundering Through Western Europe and the United States by Russian Organised Crime Groups", Journal of Money Laundering Control, Vol. 3 No. 3, pp. 199-203. https://doi.org/10.1108/eb027230