Article

2010-03-01 Caucasus/Russia/Central Asia

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Posted by Fred 2010-03-01 00:00|| || Front Page|| [1 views ] Top

#1 Cyprus money is neither foreign nor laundered. In the early days of the post-Soviet era, every Russian company that issued any kind of public securities needed a Cyprus entity to clear trades because of the weaknesses in Russian securities legislation.

The main laundering destinations for illicit Russian activity are Switzerland and Dubai.

Posted by lex 2010-03-01 10:04|| 2010-03-01 10:04|| Front Page Top

#2 Luxembourg has had a discreet banking system in place for decades and is geared toward 'offshore accounts'. A law supposedly aimed at combating money laundering was enacted in 1992.

Doesn't mean that money going to Russia hasn't been.. recycled.

And lex is right - Dubai's a gray-market area for money transactions

Posted by Pappy 2010-03-01 15:39|| 2010-03-01 15:39|| Front Page Top

#3 2009 was a big year for screwing foreign investors in russia (BP comes to mind)

Cause, meet effect.

Posted by flash91 2010-03-01 15:54|| 2010-03-01 15:54|| Front Page Top

#4 Dubai's mafiya central for more than just money-laundering. It was AQ Khan's stomping grounds, and the main transit point for organized crime east of the Elbe

Posted by lex 2010-03-01 20:06|| 2010-03-01 20:06|| Front Page Top

#5 "Foreign investment in Russia down 21%"

I'm looking for my nanoviolin, really....

Posted by Barbara Skolaut 2010-03-01 21:07|| 2010-03-01 21:07|| Front Page Top

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