EU countries launch joint probe into Magnitsky affair

Financial sleuths from six EU countries are joining forces to see if millions of euros of Russian mafia money was laundered through their banks.

The move comes after the European Commission introduced a request for a joint investigation at a meeting of the so-called Financial Intelligence Units platform (FIU.net) on 7 February.

FIU.net holds regular meetings of anti-corruption experts from EU interior ministries and operates a secure IT network helping them to exchange data.

Cyprus, Estonia, Latvia and Lithuania were already looking into allegations that some of the €230 million embezzled by the “Klyuev group,” an organised crime syndicate, from Russian tax authorities in 2007 was wired via Russian and Moldovan banks to firms in their jurisdictions.

Austria and Finland have also carried out probes.

Their prosecutors earlier said there is no evidence crimes were committed on their territories.

But an EU commission source, who asked to remain anonymous, noted that they are taking part in the 7 February initiative. “There was no negative reaction from any member state … The FIUs are working on the case and there will be a follow-up meeting before the summer,” the contact said.