Standard Chartered, Citigroup and other international banks handled billions in funds from companies linked to the Kremlin-backed fintech group A7, which according to the Financial Times used forged documents and shell companies to gain access to the global financial system.
According to the newspaper’s investigation, more than 6.9 billion dollars, equivalent to 68 billion kronor, was routed through international banks despite the sanctions against Russia.
Accounts at Standard Chartered in Hong Kong received 1.1 billion dollars from A7-linked companies, while DBS received 273 million dollars and Citigroup customers 74 million dollars.
FT reports that some payments were linked to military equipment and purchases of Russian security services. The investigation identified around 100 shell companies that made payments, while the documents mention at least another 100 such companies.
