London Daily

Focus on the big picture.
Saturday, Mar 14, 2026

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

0:00
0:00
Close
Middle East War Highlights Strategic Importance of Strong UK–Ireland Cooperation
Weak Growth Signals UK Economy Was Faltering Even Before Middle East Energy Shock
Marks & Spencer Tops UK Fashion Retail Rankings as Most Considered Brand
United States Launches Trade Investigation Into Allies Over Forced Labour Practices
United States Launches Trade Investigation Into Allies Over Forced Labour Practices
Russia Accuses Britain Over Storm Shadow Strike as London Reaffirms Ukraine’s Right to Self-Defence
Russia Accuses Britain Over Storm Shadow Strike as London Reaffirms Ukraine’s Right to Self-Defence
Royal Navy to Acquire Twenty Uncrewed Surface Vessels for Autonomous Warfare Testing
Russia Summons British and French Envoys After Ukrainian Storm Shadow Strike on Strategic Facility
Starmer Confirms Britain Will Maintain Sanctions on Russia Despite U.S. Policy Shift
UK Moves to Refine AI Definition in Investment Security Reform
UK Economy Stalls in January as Growth Unexpectedly Falls to Zero
Asian Energy Security Tested as Strait of Hormuz Disruption Threatens Oil Supplies
Iran Sets Three Conditions for Ending Regional War as Diplomatic Efforts Intensify
Tesla Secures Approval to Supply Electricity Directly to Homes Across Britain
Prince William Delivers Tribute to Australia’s Naval Alliance Amid Renewed Royal Spotlight on the Country
UK Foreign Secretary Travels to Saudi Arabia to Reinforce Support for Regional Allies
Putin’s ‘Hidden Hand’ May Be Assisting Iran in Conflict With Trump, UK Defence Secretary Warns
UK Sets April Deadline for Tech Platforms to Strengthen Online Protections for Children
Elon Musk Moves Into Britain’s Energy Market as Tesla Wins Licence to Supply Power
UK Watchdog Warns Fuel Retailers Against Profiteering Amid Iran War Price Surge
Report Claims Iran Used UK Charity Network to Expand Influence
United States and United Kingdom Establish Joint Standards for Counter-Drone Technology
Iran May Be Laying Naval Mines in Strait of Hormuz, UK Warns Amid Escalating Gulf Tensions
US Deploys Bunker-Buster Bombs to UK Airbase as Iran Conflict Intensifies
British Troops in Iraq Intercept Iranian Drones Targeting Coalition Base
Release of Mandelson Files Raises Tensions as UK Seeks Stable Relations With Donald Trump
UK Documents Reveal Starmer Was Warned About Mandelson’s Epstein Links Before Ambassador Appointment
Nearly Five Hundred UK Mortgage Deals Withdrawn in Two Days as Market Volatility Forces Lenders to Reprice
Three Cargo Ships Hit Near Iran as Attacks Spread to Strategic Strait of Hormuz
Why British Police Repeatedly Declined to Investigate Jeffrey Epstein’s UK Links
UK Parliament Ends Hereditary Seats in House of Lords, Closing Chapter on Centuries of Aristocratic Lawmaking
EU and UK Urge Israel to Act Against Rising West Bank Settler Violence Amid Regional Tensions
US Senator John Kennedy Says Keir Starmer Should Not Be Trusted for Military Advice Amid Iran War Debate
UK High Court Rejects Attempt to Revive Terrorism Charge Against Kneecap Rapper
Revolut Secures Full UK Banking Licence After Multi-Year Regulatory Wait
Kentucky’s Bench Boost Powers Wildcats Past LSU in SEC Tournament Opener
British Couple Die After Being Pulled From Water at Australian Beach During Family Visit
Global Energy Agency Announces Record Release of 400 Million Barrels to Stabilize Oil Markets Amid Hormuz Disruption
British Airways Suspends UK Repatriation Flights as Middle East Travel Disruption Deepens
US Forces Prepare Ordnance at RAF Fairford as Strategic Bombers Deploy for Middle East Operations
Nigel Farage Faces Criticism After Saying Britain Should Stay Out of Iran War
Landmark UK Trial Begins Over Sony’s PlayStation Store Pricing
UK High Court Rejects Bid to Challenge Britain’s Chagos Islands Agreement With Mauritius
Finnish Duo Triumphs in England’s Annual Wife-Carrying Race, Winning a Barrel of Ale
How U.S. and UK National Security Strategies Are Reshaping the Global Business Landscape
Green Party Gains Momentum as Labour Shifts Toward the Political Centre
Royal Navy Destroyer HMS Dragon Sets Sail for Eastern Mediterranean as Regional Tensions Rise
UK Homebuilder Persimmon Warns Iran Conflict Could Dent Property Buyer Confidence
Roman Abramovich Signals Legal Fight if UK Seeks to Seize Chelsea Sale Funds
×