Few authoritarian states have worked harder than Azerbaijan to leverage major international events to boost their image on the world stage. Human rights and ...
Every year, formation agents register tens of thousands of companies in London. While many are used for legal purposes, some are vehicles for serious financial crimes like money laundering, sanctions-busting and fraud. In this explainer, we look at how formation agents work and how they can be misused by criminals.
London is one of the biggest financial centers in the world, and it is becoming an increasingly attractive place for criminals to hide their wealth, says David Clarke, the chairman of the U.K.'s Fraud Advisory Panel and former director of the National Fraud Intelligence Bureau.
From 2006 through early 2013, billions of dollars moved out of Russia through an elaborate scheme orchestrated by Russia's largest private investment bank, Troika Dialog. The money was used to pay for luxury goods, make secret investments in state-owned companies, and even pay school tuitions.
Armen Ustyan is a 35-year-old seasonal construction worker who lives with his parents and wife in Vanadzor, Armenia. His signature appears on the financial agreements of a shell company that moved at least $70 million. Reporters from Hetq Online, an Armenian investigative online newspaper, met Ustyan in his home to ask him why.
How do criminals hide their stolen millions? Dr. Louise Shelley, an expert on illicit financial flows, explains how companies use fake invoices and trade agreements to disguise their laundered sums. This video is part of a series on the Troika Laundromat, a multi-billion-dollar financial system used in part to move money worldwide, evade taxes, and mask other financial crimes.
How a Mexican narco-trafficker found safe haven on Bolivian cattle ranches.