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NGO: 'Cyprus is laundry machine for dirty Russian money'

13.02.13 @ 10:31

  1. By EUOBSERVER

The US-based NGO, Global Financial Integrity, has said "Cyprus is a laundry machine for dirty Russian money." Its report says the EU country, with a GDP of $23bn, sent $129bn into Russia in 2011. It says Russia since 1994 saw $212bn of "illicit" financial outflows and $553bn in illicit inflows.