Financial Times reports US$6.9bn flowed through banks in alleged Russian forgery scheme
Leaked material from fintech A7 reportedly details thousands of Russian payments handled by Standard Chartered, Citigroup and other international financial groups.
The Financial Times reports that approximately US$6.9 billion moved through global banks in thousands of Russian payments allegedly linked to a Kremlin-backed forgery scheme.
The reporting is based on leaked material from fintech company A7. The supplied material does not detail the alleged scheme, the payments or A7’s role.
Standard Chartered, Citigroup and other international financial groups were reportedly among the institutions that handled the payments, according to the Financial Times.
The material provided does not establish whether the named banks knowingly facilitated unlawful activity. It also does not include responses from the banks or detail the methodology behind the reported findings.
The US$6.9 billion figure should therefore be treated as a reported estimate, while the claims about Kremlin backing and the banks’ involvement remain allegations attributed to the Financial Times’ reporting.
