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Integration of Criminal Capital from Russia into West European Markets: An Assessment of Threat

Journal of Money Laundering Control

ISSN: 1368-5201

Article publication date: 1 January 1997

Abstract

The development of organised crime in today's Russia is, first of all, a study of its powers. These powers are not a fixed form of dominion but a constantly shifting, dynamic series of elements used and manipulated in ways ranging from the most primitive physical intimidation and force to the most subtle and sophisticated methods. It is becoming more obvious that of all elements of organised crime powers the greatest threat now and for the future comes from the immense financial resources available to organised crime in Russia. This paper focuses primarily on the problem of integration of criminally accumulated capital which is coming from the Russian Federation into West European markets. The author poses an objective to identify the problem and the factors which facilitate and inhibit the infiltration of organised crime from Russia into Western Europe, indicating possible implications and trends. In particular attention is given to the problem of the so‐called illegal flight of capital, which goes mainly to Western Europe. Furthermore, for the creation and recycling of their financial resources organised crime has to use the conventional banking system inside and outside of Russia, in particular Western Europe, as well as other methods. Therefore, the problem of organised crime in Russia's banking industry and its internationalisation into the European financial services industry have been explored.

Citation

Sinuraya, T. (1997), "Integration of Criminal Capital from Russia into West European Markets: An Assessment of Threat", Journal of Money Laundering Control, Vol. 1 No. 1, pp. 32-41. https://doi.org/10.1108/eb027118

Publisher

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MCB UP Ltd

Copyright © 1997, MCB UP Limited