Where do Russian oligarchs hide their fortunes?

Notes of various currencies

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photo caption,

Illicit funds are placed in shell companies to make them extremely difficult to trace.

For decades, russian oligarchs transferred billions of dollars of illicit money abroad, putting it in shell companies to make it extremely difficult to trace.

How much Russian ‘dirty money’ is there around the world?

According to the American think tank Atlantic Council, the Russians own about $1 trillion of what they classify as “dirty money” hidden abroad.

In its 2020 report, the group estimated that a quarter of that amount is controlled by Russian President Vladimir Putin and his close associates – wealthy Russians known as “oligarchs”.

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