AML Negative News Lessons and the Troika Laundromat

May 22nd, 2019

The sprawling $9 billion Russian money laundering scheme dubbed the “Troika Laundromat” by investigative journalists yields more than just insight into how the powerful, corrupt and criminal cleanse illicit gains – it’s also a treasure trove of negative news risk data to help financial crime compliance professionals retexture individuals, companies and even countries.

The Organized Crime and Corruption Reporting Project – the group behind the historic “Panama Papers” and “Paradise Papers” leaks – detailed the findings of the latest analysis earlier this month, parsing out how the secretive, elite and corrupt attempt to wash away their sins, an effort that included partnering with the Lithuanian news site 15min.lt and The Guardian.

This latest leak is a goldmine for the consumers of negative news – bank financial crime compliance teams – and negative news hunters and organizers, such as third-party vendors crafting and updating both bespoke and Internet-infused databases.

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