Where do Russian oligarchs hide their dark money?

The British Virgin Islands are a favorite paradise for Russian money.

The Russians have about $1 trillion hidden worldwide, and countries are trying to find them.

About a quarter of this amount is controlled by Russian President Vladimir Putin and his close co-workers, wealthy Russians known as “oligarca”, the US Atlantic Council estimates in its 2020 report.

For decades, Russian oligarchs have moved billions of dollars abroad, placing them in closed companies to make tracking extremely difficult.

Historically, many of this money has gone to Cyprus, being lured by favorable taxes. For some, the island became known as “Mossca in Med”.

British territories abroad, such as the British Virgin Islands and the Kayman Islands, are also favorite destinations.

Some of that money is found on the way to financial capitals, such as New York and London, where they can invest in and reap returns.

After the invasion of Ukraine, countries have announced a series of measures to track Russian money. It's a favorite Russian money paradise.

The Russians have about $1 trillion hidden worldwide, and countries are trying to find them.

About a quarter of this amount is controlled by Russian President Vladimir Putin and his close co-workers, wealthy Russians known as “oligarca”, the US Atlantic Council estimates in its 2020 report.

For decades, Russian oligarchs have moved billions of dollars abroad, placing them in closed companies to make tracking extremely difficult.

Historically, many of this money has gone to Cyprus, being lured by favorable taxes. For some, the island became known as “Mossca in Med”.

British territories abroad, such as the British Virgin Islands and the Kayman Islands, are also favorite destinations.

Some of that money is found on the way to financial capitals, such as New York and London, where they can invest in and reap returns.

After the invasion of Ukraine, countries have announced a series of measures to track Russian money.