March 23, 2023

The Moscow-City Laundromat


The Moscow-City Laundromat
Moscow-City in February fog  Gennady Grachev, Around Moscow, Wikimedia Commons 

Transparency International Russia, a well-regarded anti-corruption NGO, discovered that several crypto exchanges that are operating in Moscow-City, the main commercial district of Russian capital, are offering services for withdrawing funds from Russia to the UK anonymously. 

Investigators conducted a series of undercover interviews and established that at least eight crypto exchangers are ready to exchange USDT stablecoins for pounds sterling with the opportunity to receive them in cash in London. One of these exchanges, Suex was sanctioned by the US for money laundering back in 2021. 

According to Transparency International Russia (TI), the process of making a transfer is quite simple and is similar for all crypto exchangers. They deposit client funds in a specified crypto wallet, after which the crypto exchange operator assigns the time and date of a courier delivery to the specified address in London.

Not a single crypto exchange requests an identity document from customers. This directly violates the British anti-money-laundering legislation. "This presents a significant money laundering risk and is illustrative of how the financial system is open to exploitation by criminals and corrupt officials looking to launder their ill-gotten gains," investigators note.

This is not the only TI investigation into money laundering in Russia. Previously, TI found a money-laundering scheme being run by Gazprom, Russia's state-owned gas giant, and they also published a podcast on money-laundering via real estate. 

Therefore, it is not surprising that Russian authorities have targeted the anti-corruption organization: recently TI, an NGO that has headquarters in Berlin, was recognized as an "undesirable organization" in Russia, and its employees were banned from working in Russia under threat of criminal prosecution. Because of this, TI Russia, the Moscow based NGO, which previously was included in the register of "foreign agents," was forced to shutter its legal entity.

 

You Might Also Like

Russians Getting a Raise?
  • December 08, 2022

Russians Getting a Raise?

In a November 30 speech, President Vladimir Putin said the next big challenge for his government will be raising the economic well-being of Russians.
A Bite from a Billionaire
  • September 10, 2022

A Bite from a Billionaire

For the first time, a Ukrainian court has ruled to confiscate the assets of a Russian billionaire.
Like this post? Get a weekly email digest + member-only deals

Some of Our Books

A Taste of Chekhov

A Taste of Chekhov

This compact volume is an introduction to the works of Chekhov the master storyteller, via nine stories spanning the last twenty years of his life.
Driving Down Russia's Spine

Driving Down Russia's Spine

The story of the epic Spine of Russia trip, intertwining fascinating subject profiles with digressions into historical and cultural themes relevant to understanding modern Russia. 
Woe From Wit (bilingual)

Woe From Wit (bilingual)

One of the most famous works of Russian literature, the four-act comedy in verse Woe from Wit skewers staid, nineteenth century Russian society, and it positively teems with “winged phrases” that are essential colloquialisms for students of Russian and Russian culture.
Turgenev Bilingual

Turgenev Bilingual

A sampling of Ivan Turgenev's masterful short stories, plays, novellas and novels. Bilingual, with English and accented Russian texts running side by side on adjoining pages.
93 Untranslatable Russian Words

93 Untranslatable Russian Words

Every language has concepts, ideas, words and idioms that are nearly impossible to translate into another language. This book looks at nearly 100 such Russian words and offers paths to their understanding and translation by way of examples from literature and everyday life. Difficult to translate words and concepts are introduced with dictionary definitions, then elucidated with citations from literature, speech and prose, helping the student of Russian comprehend the word/concept in context.
At the Circus (bilingual)

At the Circus (bilingual)

This wonderful novella by Alexander Kuprin tells the story of the wrestler Arbuzov and his battle against a renowned American wrestler. Rich in detail and characterization, At the Circus brims with excitement and life. You can smell the sawdust in the big top, see the vivid and colorful characters, sense the tension build as Arbuzov readies to face off against the American.
The Little Golden Calf

The Little Golden Calf

Our edition of The Little Golden Calf, one of the greatest Russian satires ever, is the first new translation of this classic novel in nearly fifty years. It is also the first unabridged, uncensored English translation ever, and is 100% true to the original 1931 serial publication in the Russian journal 30 Dnei. Anne O. Fisher’s translation is copiously annotated, and includes an introduction by Alexandra Ilf, the daughter of one of the book’s two co-authors.
Stargorod: A Novel in Many Voices

Stargorod: A Novel in Many Voices

Stargorod is a mid-sized provincial city that exists only in Russian metaphorical space. It has its roots in Gogol, and Ilf and Petrov, and is a place far from Moscow, but close to Russian hearts. It is a place of mystery and normality, of provincial innocence and Black Earth wisdom. Strange, inexplicable things happen in Stargorod. So do good things. And bad things. A lot like life everywhere, one might say. Only with a heavy dose of vodka, longing and mystery.
Okudzhava Bilingual

Okudzhava Bilingual

Poems, songs and autobiographical sketches by Bulat Okudzhava, the king of the Russian bards. 
Fish: A History of One Migration

Fish: A History of One Migration

This mesmerizing novel from one of Russia’s most important modern authors traces the life journey of a selfless Russian everywoman. In the wake of the Soviet breakup, inexorable forces drag Vera across the breadth of the Russian empire. Facing a relentless onslaught of human and social trials, she swims against the current of life, countering adversity and pain with compassion and hope, in many ways personifying Mother Russia’s torment and resilience amid the Soviet disintegration.
Chekhov Bilingual

Chekhov Bilingual

Some of Chekhov's most beloved stories, with English and accented Russian on facing pages throughout. 
The Latchkey Murders

The Latchkey Murders

Senior Lieutenant Pavel Matyushkin is back on the case in this prequel to the popular mystery Murder at the Dacha, in which a serial killer is on the loose in Khrushchev’s Moscow...

About Us

Russian Life is a publication of a 30-year-young, award-winning publishing house that creates a bimonthly magazine, books, maps, and other products for Russophiles the world over.

Latest Posts

Our Contacts

Russian Life
73 Main Street, Suite 402
Montpelier VT 05602

802-223-4955