THE PROBLEM OF TRACING DIRTY MONEY FROM RUSSIA: HOW “ILLEGAL” ARE “ILLICIT” FLOWS?

A post on the LSE Business School blog says that the invasion of Ukraine has prompted renewed calls to tackle the flow of ‘dirty money’ from Russia into other European states.  It argues that, However, before one can propose concrete advice on how to tackle these flows, one must confront some basic definitional questions.  What do we mean by ‘illicit’ finance?  How can we trace it?  Is illicit finance always against the law?  The post pinpoints 3 difficulties in conceptualising and, hence, tracing illicit financial flows, and suggest that, given these challenges a wider approach to studying the transnational reach of dirty money is needed.

https://blogs.lse.ac.uk/europpblog/2022/02/25/the-problem-of-tracing-dirty-money-from-russia-how-illegal-are-illicit-flows/

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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