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

Survival Russian
February 01, 2009

Survival Russian

Survival Russian is an intensely practical guide to conversational, colloquial and culture-rich Russian. It uses humor, current events and thematically-driven essays to deepen readers’ understanding of Russian language and culture. This enlarged Second Edition of Survival Russian includes over 90 essays and illuminates over 2000 invaluable Russian phrases and words.

Moscow and Muscovites
November 26, 2013

Moscow and Muscovites

Vladimir Gilyarovsky's classic portrait of the Russian capital is one of Russians’ most beloved books. Yet it has never before been translated into English. Until now! It is a spectactular verbal pastiche: conversation, from gutter gibberish to the drawing room; oratory, from illiterates to aristocrats; prose, from boilerplate to Tolstoy; poetry, from earthy humor to Pushkin. 

The Samovar Murders
November 01, 2019

The Samovar Murders

The murder of a poet is always more than a murder. When a famous writer is brutally stabbed on the campus of Moscow’s Lumumba University, the son of a recently deposed African president confesses, and the case assumes political implications that no one wants any part of.

How Russia Got That Way
September 20, 2025

How Russia Got That Way

A fast-paced crash course in Russian history, from Norsemen to Navalny, that explores the ways the Kremlin uses history to achieve its ends.

The Pet Hawk of the House of Abbas
October 01, 2013

The Pet Hawk of the House of Abbas

This exciting new trilogy by a Russian author – who has been compared to Orhan Pamuk and Umberto Eco – vividly recreates a lost world, yet its passions and characters are entirely relevant to the present day. Full of mystery, memorable characters, and non-stop adventure, The Pet Hawk of the House of Abbas is a must read for lovers of historical fiction and international thrillers.

 
Fish
February 01, 2010

Fish

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.

White Magic
June 01, 2021

White Magic

The thirteen tales in this volume – all written by Russian émigrés, writers who fled their native country in the early twentieth century – contain a fair dose of magic and mysticism, of terror and the supernatural. There are Petersburg revenants, grief-stricken avengers, Lithuanian vampires, flying skeletons, murders and duels, and even a ghostly Edgar Allen Poe.

Jews in Service to the Tsar
October 09, 2011

Jews in Service to the Tsar

Benjamin Disraeli advised, “Read no history: nothing but biography, for that is life without theory.” With Jews in Service to the Tsar, Lev Berdnikov offers us 28 biographies spanning five centuries of Russian Jewish history, and each portrait opens a new window onto the history of Eastern Europe’s Jews, illuminating dark corners and challenging widely-held conceptions about the role of Jews in Russian history.

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