High street banks involved in Russian money-laundering 2017 Kingdom

This statistic shows the value of money processed by the leading high street banks (British banks and foreign banks with offices in the UK), implicated in the money laundering scheme with suspected links to the Russian government, investigated over three years in the United Kingdom as of March 2017. According to the data quoted in the article, HSBC processed 545.3 million U.S. dollars in what became known as "The Global Laundromat" cash. The records show that, overall the sum of 738.1 million U.S. dollars in transactions involving criminal money from Moscow was processed by banks originating from the UK, or foreign banks with offices in the UK.

High street banks involved in Russian money-laundering operation in the United Kingdom (UK) as of March 2017, by amount of money processed (in million U.S. dollars)

Characteristic	Value of money processed in million U.S. dollars
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Release date

March 2017

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Region

Russia, United Kingdom

Survey time period

2017

Supplementary notes

The statistic lists the high street banks involved, with more than two million U.S. dollars worth of transactions in the scheme, known as "The Global Laundromat".

The source adds further information: "The data is understood to be part of the evidence gathered in a three-year money-laundering investigation led by police in Latvia and Moldova. Detectives have unravelled a conspiracy that involved billions of dollars being sent from suspected criminals in Russia via accounts in Latvia and Moldova held at banks notorious for their exposure to money-laundering scams."

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