The Azerbaijani laundromat: a new money laundering machine in a familiar guise

D. Crijns, AMLC senior advisor

Most of you are familiar to the so-called Russian laundromat, a $20 billion money laundering scheme during the period 2010 – 2014. A few weeks ago, the journalist collective OCCRP published a new, similar scheme: the Azerbaijani laundromat.

In this article I will discuss four items. First the new scheme in short. Then I will deal with a special legal entity that is often used in this type of money laundering scheme, and give some examples and more detailed information. In the third paragraph I will focus on the role of the banks in the scheme and how the money actually got into the hands of the criminals. Finally, I will give examples of how the money is spent.
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