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Criminalizing Money Laundering As A Method And Means Of Curbing Corruption, Organized Crime, And Capital Flight In Russia, Sam Chung

Washington International Law Journal

In the wake of the post-Soviet privatization in the Russian Federation, corruption and organized crime have flourished, contributing to capital flight, economic instability, and the collapse of Russia's financial system. Over the same period, Russian legislators have worked to reform the legal system in order to facilitate their country's transition to democracy and the rule of law. In 1997, legislative efforts led to the enactment of a new criminal code that emphasizes the rights of the individual as opposed to the power of the government. More recently, several draft bills targeting money laundering activities and banking reform have been introduced …