Russian FinTech Allegedly Laundered $6.9 Billion Via Global Banks

Some of the world’s largest banks have reportedly handled billions of dollars for a Kremlin-backed FinTech that used forgery to enter the international financial system. An investigation by the Financial Times (FT) published Monday (Sept. 21) found that A7, a company established as an alternative to western payment systems, used “old-fashioned money laundering” to move more than $6.9 billion through the global banking system in spite of sanctions on Russia.