Baltic banks launder Russian money

Baltic banks launder money from Russia, according to a report by Russia’s Federal Financial Monitoring Service (Rosfinmonitoring). The report says that around RUB 300b (EUR 6.8b USD 9.7b) was transferred from Russia through offshore accounts in Baltic banks in the first half of 2009. Rosfinmonitoring alleges that banks in Estonia, Latvia, and Lithuania facilitate tax evasion for their Russian clients.

http://www.gazeta.ru/financial/2009/07/20/3225094.shtml

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