Beautiful Virgin Islands

Monday, Dec 29, 2025

Money Launderers, Corruption See A Coronavirus Advantage, Transparency International Warns

Money Launderers, Corruption See A Coronavirus Advantage, Transparency International Warns

On May 7, 2020, the European Commission issued an Action Plan to strengthen the European Union’s legal framework to fight against money laundering following a wave of recent high-profile money laundering scandals at European banks. This in the tail end of a pandemic.
German lawmaker Peter Beyer sent a request to Cyprus’ Minister of Finance to investigate how the Ananyevs got their passports and visas there, which were likely investor visas similar to the U.S. EB-5 program. Cyprus is a haven of Russian money laundering and tax evasion.

Beyer says he’s going to raise the issue in Brussels now, using the ex-PSB bank founders as an example to others.

“The (PSB) case at hand is transnational and involved four American banks, a few European, Cypriot and many offshore companies,” Beyer said in an email interview. “Germany and the EU are taking the issues very seriously.”

Beyer said that U.S. representatives of ex-PSB account holders approached him and brought the case to his attention. He then brought it to the attention of London, including the Home Office, the equivalent of their Homeland Security, which manages immigration.

PSB’s lawyers did not respond to a request for comment sent out last week. Alexei Ananyev’s lawyer did not respond to request for comment. The request also sought information on Dmitri’s lawyer. He no longer maintains the same London lawyer he had a year ago.

The breakup of PSB has been a massive headache for the Ananyevs. They lost an arbitration panel in Moscow for 282 billion rubles ($4.3 billion), where former executives and top managers of the bank were also fined. The Moscow case sought to recoup “losses from individuals who controlled the bank before December 15, 2017,” adding that it was the Ananyev’s “ill-judged and senseless acts” that resulted in losses and illegal transfers of funds to offshore accounts, money that could have been returned to its account holders.

Beyer is advocating for the people listed as offshore LLCs and holding companies directors to be held liable for financial fraud just like the owners of capital.

In theory, independent directors running multiple LLCs would face the same legal risks as those depositing the money into the firms they’re managing. That might make money laundering and tax evasion more difficult.

Pandemic or not, the United Nations estimates that the amount of money laundered through the financial system each year is between $800 billion and $3 trillion.

Due to the pandemic, it appears that law enforcement and lawmakers in the U.S. and Europe, with Germany in particular, seem to have much less patience and will be trying to ensure the integrity of the Western financial system. As a result, harsher sentences for the perpetrators will be meted out, with less tolerance for money laundering and tax evasion — especially at a time when governments are dishing out trillions in coronavirus relief aid.

“We have seen a number of cases where organized crime illegally obtained access to money intended to help those through the pandemic,” says Beyer. “It’s money that was supposed to help companies from going out of business. The pandemic seems to offer more ways to abuse the system.”

The Ananyev brothers weren’t abusing the pandemic. Their fallout happened long before the new SARS was a headline, but they may be as good example as any that you can run but you cannot hide from the coronavirus, and you can’t postpone or delay law enforcement targeting money laundering and other financial crimes, either.

“We have a court hearing in Holland” says Lender. “Hopefully it won’t be rescheduled because of this. I think justice will be swift and timely.”
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
UK Plans Royal Diplomacy with King Charles and Prince William to Reinvigorate Trade Talks with US
King Charles and Prince William Poised for Separate 2026 US Visits to Reinforce UK-US Trade and Diplomatic Ties
Apple Moves to Appeal UK Ruling Ordering £1.5 Billion in Customer Overcharge Damages
King Charles’s 2025 Christmas Message Tops UK Television Ratings on Christmas Day
The Battle Over the Internet Explodes: The United States Bars European Officials and Ignites a Diplomatic Crisis
Princesses Beatrice and Eugenie Join Royal Family at Sandringham Christmas Service
Fine Wine Investors Find Little Cheer in Third Year of Falls
UK Mortgage Rates Edge Lower as Bank of England Base Rate Cut Filters Through Lending Market
U.S. Supermarket Gives Customers Free Groceries for Christmas After Computer Glitch
Air India ‘Finds’ a Plane That Vanished 13 Years Ago
Caviar and Foie Gras? China Is Becoming a Luxury Food Powerhouse
Hong Kong Climbs to Second Globally in 2025 Tourism Rankings Behind Bangkok
From Sunniest Year on Record to Terror Plots and Sports Triumphs: The UK’s Defining Stories of 2025
Greta Thunberg Released on Bail After Arrest at London Pro-Palestinian Demonstration
Banksy Unveils New Winter Mural in London Amid Festive Season Excitement
UK Households Face Rising Financial Strain as Tax Increases Bite and Growth Loses Momentum
UK Government Approves Universal Studios Theme Park in Bedford Poised to Rival Disneyland Paris
UK Gambling Shares Slide as Traders Respond to Steep Tax Rises and Sector Uncertainty
Starmer and Trump Coordinate on Ukraine Peace Efforts in Latest Diplomatic Call
The Pilot Barricaded Himself in the Cockpit and Refused to Take Off: "We Are Not Leaving Until I Receive My Salary"
UK Fashion Label LK Bennett Pursues Accelerated Sale Amid Financial Struggles
U.S. Government Warns UK Over Free Speech in Pro-Life Campaigner Prosecution
Newly Released Files Shed Light on Jeffrey Epstein’s Extensive Links to the United Kingdom
Prince William and Prince George Volunteer Together at UK Homelessness Charity
UK Police Arrest Protesters Chanting ‘Globalise the Intifada’ as Authorities Recalibrate Free Speech Enforcement
Scambodia: The World Owes Thailand’s Military a Profound Debt of Gratitude
Women in Partial Nudity — and Bill Clinton in a Dress and Heels: The Images Revealed in the “Epstein Files”
US Envoy Witkoff to Convene Security Advisers from Ukraine, UK, France and Germany in Miami as Peace Efforts Intensify
UK Retailers Report Sharp Pre-Christmas Sales Decline and Weak Outlook, CBI Survey Shows
UK Government Rejects Use of Frozen Russian Assets to Fund Aid for Ukraine
UK Financial Conduct Authority Opens Formal Investigation into WH Smith After Accounting Errors
UK Issues Final Ultimatum to Roman Abramovich Over £2.5bn Chelsea Sale Funds for Ukraine
Rare Pink Fog Sweeps Across Parts of the UK as Met Office Warns of Poor Visibility
UK Police Pledge ‘More Assertive’ Enforcement to Tackle Antisemitism at Protests
UK Police Warn They Will Arrest Protesters Chanting ‘Globalise the Intifada’
Trump Files $10 Billion Defamation Lawsuit Against BBC as Broadcaster Pledges Legal Defence
UK Says U.S. Tech Deal Talks Still Active Despite Washington’s Suspension of Prosperity Pact
UK Mortgage Rules to Give Greater Flexibility to Borrowers With Irregular Incomes
UK Treasury Moves to Position Britain as Leading Global Hub for Crypto Firms
U.S. Freezes £31 Billion Tech Prosperity Deal With Britain Amid Trade Dispute
Prince Harry and Meghan’s Potential UK Return Gains New Momentum Amid Security Review and Royal Dialogue
Zelensky Opens High-Stakes Peace Talks in Berlin with Trump Envoy and European Leaders
Historical Reflections on Press Freedom Emerge Amid Debate Over Trump’s Media Policies
UK Boosts Protection for Jewish Communities After Sydney Hanukkah Attack
UK Government Declines to Comment After ICC Prosecutor Alleges Britain Threatened to Defund Court Over Israel Arrest Warrant
Apple Shutters All Retail Stores in the United Kingdom Under New National COVID-19 Lockdown
US–UK Technology Partnership Strains as Key Trade Disagreements Emerge
UK Police Confirm No Further Action Over Allegation That Andrew Asked Bodyguard to Investigate Virginia Giuffre
Giuffre Family Expresses Deep Disappointment as UK Police Decline New Inquiry Into Andrew Mountbatten-Windsor Claims
Transatlantic Trade Ambitions Hit a Snag as UK–US Deal Faces Emerging Challenges
×