How does money laundering through cryptocurrency work?

Money laundering through cryptocurrency is becoming one of the main tools for circumventing financial controls, sanctions and transparency of the origin of funds. A new investigation, prepared with the participation of Transparency International Russia, has been published on the Compliance Corylated website, which shows exactly how this scheme works.

The main character is a Russian with a British education. He created a full-fledged service for money laundering through cryptocurrency. His clients included not only members of the elite, but also international criminal gangs. The scheme included shell companies, offshore accounts and cryptocurrency exchanges. Through it, large sums of cash were anonymously turned into digital assets.

Such schemes do more than just hide the origin of funds. They help move money freely between jurisdictions. All this bypasses bank reporting and standard compliance procedures. In fact, this is a new form of financial service for those who want to stay in the shadows.

The investigation shows how money leaves Russia without the participation of the classical banking system. Everything works quickly, unnoticed and does not come to the attention of regulators.

This material continues a series of publications about new forms of financial anonymity, which are becoming increasingly popular among wealthy Russians and companies associated with sanctions. Money laundering through cryptocurrency has long ceased to be a rare practice - it is a full-fledged industry with clear logic, tariffs and an international network of intermediaries.

Read the investigation (in English):
Cash-to-Crypto Laundering: Part II of the Golden Youth Investigation