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British banks implicated into Russian money-laundering scheme

Britain’s high street banks were implicated in the scheme for money laundering, conducted by representatives of Russian business and political elite, The Guardian reports, referring to the documents that appeared at its disposal.

HSBC, Royal Bank of Scotland, Lloyds, Barclays and Coutts, which are used by Elizabeth II, are among the 17 banks that were questioned as to whether they had any information about this scheme and why they had not given up suspicious money transfers.

During a period from 2010 to 2014 at least $20 billion were moved from Russia, according to the publication. The real figure could be 80 billion, British investigators say. According to their estimates, more than 500 people could participate in the scheme.

The documents contain information on 70 thousand suspicious bank transactions, 1.920 of which passed through the banks of the United Kingdom and 373 - through the U.S. banks.


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