PANA To Address Financial Intelligence Units And The "Russian Laundromat Case"

On June 21, the Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion (PANA) will hold a meeting on "Financial Intelligence Units (FIUs) – Ins and Outs, and the Russian Laundromat case".

Bank records

The Organized Crime and Corruption Reporting Project (OCCRP) broke the story of the Laundromat in 2014, but recently the reporters from OCCRP and Novaya Gazeta in Moscow obtained a wealth of bank records which they then opened to investigative reporters in 32 countries. The reporters demonstrated how billions moved from Russia, into and through the 112 bank accounts that comprised the system in Eastern Europe, then into banks around the world.

The PANA invited speakers on the subject that include Paul Cristian Radu, Investigative Dashboard, Organized Crime and Corruption Reporting Project, and Viesturs Burkāns, Head of Latvian FIU (Office for Prevention of Laundering of Proceeds Derived from Criminal Activity).

A Hearing on the Financial Intelligence Unit (FIUs)

The PANA committee will hold its next meeting in Brussel, and it will be continued on July 3 in Strasbourg. Representatives from different European FUIs will discuss cooperation between FIUs, financial supervisory, and the Russian “Laundromat” case. Journalists’ consortium OCCRP will participate in the discussion as well.

Sources: European Parliament, OCCRP


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