india's second largest airline runs out of money yoffe does jet airways have a future. for the money looking for a route out of russia and into the european union appears to have found a crack in the banking system tens of billions of dollars has been laundered through mostly baltic nations swamping the outposts of nordic banks it's been an ongoing headache for european regulators and now a different issue entirely has raised the anxiety levels in european capitals russia plans to move the headquarters of its development bank to hungary we'll get into that in a moment but first let's get to grips with the scale of this money laundering problem and some of the numbers behind it around one trillion dollars has been moved out of russia over the last twenty five years by individuals and companies not all illicit but that's money that has not returned to the country other sources of the money include moldova and as a by john. the money has been moved via malta cyprus estonia latvia and lithuania in the biggest money laundering case two hundred thirty billion dollars was tran

you cash and life into the airline but new low cost domestic carriers have continued to eat into jet airways market share and profits formally announce the first and jets founder near a school well was forced to step down from the board in march after being criticised for continuing to spend on planes and premier landing slots as the airline's debts were piling up. for passengers in india the grounding of jet is expected to lead to higher airfares but aviation analysts say that will be temporary and is one of the. growing. then of the most. in some form of. not experiencing that kind of growth so i don't want to see that more than four to six months. later acquired one of the capacity gap. but that's little comfort for the tens of thousands of jet employees who stuck with the company despite working on paid from the day i'm still in so many of them has given everything to us and savvy on things a lot of things it seems i mean let's be there you don't know what happened it's been very uncertain but he has a lot of these to me the same because many of these times because it is the former gover

we start off with jet airways and the report. i'm rico hizon. tart off withjet airways and the indian carrier has temporarily shut down operations. it failed to secure emergency funding from lenders. the lenders said it had no money left to pay for oil and other critical services. the firm has more than one billion us dollars in debt. its pilots, who have not been paid for three months, have threatened to go on strike, putting further pressure on strike, putting further pressure on the company. we have more from mumbai. after days of speculation the inevitable has happened. jet airways has suspended all its operations starting thursday. the airline was trying to secure emergency funds from lenders, but the banks refused to release those funds. the banks still believe that the airline can be revived and, in fa ct, the airline can be revived and, in fact, they are in the process of finding a new investor. according to multiple media reports they have shortlisted four entities, which includes etihad airways, which is a minority shareholder in jet ai

the challenge here is a lot of the aircraft the jets have are not owned by jet airways they're actually owned by leasing companies so what you see in the last few weeks of those leasing companies are direct so those planes in the hope of actually recovering those planes and leasing them to other airlines so that's actually not capital that belongs to jet they're actually renting those aircraft however to keep the business running of the last few years what jet has been doing is been plowing in money by by borrowing money from the banks by borrowing money from ent other entities and that's a challenge so the banks actually have to try and recover that money in the best possible way but dish kapoor thanks very much for being with us thank you very much and that is our show for this week remember you can get in touch with us by tweeting me at has i'm seeking and do you use the hash tag a j c t c when you do or drop us an e-mail counting the cost that you see in a dot net is our address and there's more for you online at al-jazeera dot com slash c.t.c. that will take you straight to our pag

the fact the competition came in jet airways really really did not keep up with the times you have a management there is a very structured management did not change did not look at what's happening in the market further to that you've had fuel prices ok fuel prices have actually gone down gone down over the years but the weak rupee against the dollar has actually impacted revenue so why was kingfisher allowed to fold but banks are willing to save jet airways. well we kingfisher it was an airline that was set up. the chairman of united breweries many many years ago. this airline folded in two thousand and twelve i don't think the bank so she realized the extent of the problems that kingfisher faced a lot of us is the one point six billion dollar debt that kingfisher had huge debt and banks as they did not realize how much of an impact that would have on the business how much how how they would be able to recover that that lost money and as we've seen. left the country he's in the u.k. he's facing extradition so it's a bit of a lesson to be learned in a situation now this several situ

i've been physical and let's to business stock in jet airways plunged more than thirty two percent on thursday the indian carrier had its final flight today following a decision to ground its entire fleet it's failed to secure emergency funding from banks jet airways has collapsed under the weight of heavy debt and rising oil prices which are also the main reasons for a whole host of high profile aviation failures last month iceland's budget carrier wow air which flew transatlantic flights ceased operations leaving travelers stranded similarly in twenty seventeen over one hundred thousand passengers were left stuck abroad when the british airline monarch collapsed and just one month later germany's second largest carrier air berlin went bankrupt the last major indian carrier to go bust was kingfisher airlines in twenty twelve jet airways stuff have been holding rallies calling for a state bailout creditors are cautiously optimistic the airline can be saved. it's been a hard landing for jet airways flight crew and other stuff they took to the streets in the indian cities of delhi and m

jet airways is billions of dollars in debt and it now desperately needs another cash injection thousands of flights have been cancelled with little or no notice for passengers the airline doesn't have enough planes jet airways says it has an overall fleet of one hundred nineteen aircraft but the number of planes has plummeted to just seven the carrier has been unable to pay aircraft leases on time they're well below the indian regulators minimum requirement of twenty aircraft for any carrier operating international flights now jet airways employees fear any rescue could be too late what we would like to see is the obesity fight it is to see if it is to save fifty thousand plus jobs but yet it's the kill to be honest and sees this as the favorite if they don't want the law it's the same if it wants to have it be fit but a lot of fun jet airways staff aren't the only ones who fear losing jobs if the airline tumbles for prime minister narendra modi who is running for reelection getting the needed votes may depend on finding a buyer for the beleaguered airline in time. let's talk about that

he and his family had a 51% stake in jet airways.e stood down as chairman last month due to the firm's financial crisis and there are reports he is now considering a rescue bid of his own. 0ur correspondent sameer hasmi is at the airlines headquarters in mumbai. i know there were lots of protesters gathered earlier, staff, pilots who desperately want to know what the future is for the airline? that's right, sally. right now everyone has broken for lunch but there were about 200, 250 people assembled here including primarily pilots, engineers and staff members, who we re engineers and staff members, who were hoping that the lenders would agree to infuse some money in the airline to keep it alive. that's why they are hoping lenders were meeting right now in a different location, and they will decide to save the airline. all of them had turned up in uniforms, most of them haven't been paid for the last four months, it's been a really difficult year for most of them. what is the outlook for the airline? as you say, those in the position

incorporating jet airways planes into their fleet. the times of india said spice jet will take 40 of jet airway'' 747s. another airline will take several others. it will mean new employment for jet staff who faced being laid off by collapse. the airline suspended operations must week after failing to secure emergency funding -- last week after failing to secure emergency funding. paul: the bank of japan governor lowering his policy forecast. this is bloomberg. ♪ this is bloomberg. ♪

india's second largest airline runs out of money does jet airways have a future. on money looking for a route out of russia and into the european union appears to have found a crack in the banking system tens of billions of dollars as. been laundered through mostly baltic nations swamping the outposts of nordic banks it's been an ongoing headache for european regulators and now a different issue entirely has raised the anxiety levels in european capitals russia plans to move the headquarters of its development bank to hungary we'll get into that in a moment but first let's get to grips with the scale of this money laundering problem and some of the numbers behind it around one trillion dollars has been moved out of russia over the last twenty five years by individuals and companies not all illicit but that's money that has not returned to the country other sources of the money include moldova and azerbaijan the money has been moved via malta cyprus estonia latvia and lithuania in the biggest money laundering case two hundred thirty billion dollars was transferred

unable to pay for fuel, india's jet airways cancels all of its flights. and on the markets, asian markets fell on thursday as investors in most countries wound down going into the long easter break. even positive comments on the china—us trade talks were unable to spark much buying activity. shares in the image—sharing app pinterest will start trading in the us later today. it's the latest in a whole line of tech companies coming to market this year. the offer price of $19 per share values the online scrapbooking company at $12.7 billion. more than expected. last year it generated revenues of $756 million, a leap of 60%. but like many of its tech contemporaries, it's a long way from profitable. in fact, it lost $63 million last year — although that's half the amount it lost the previous year. so things seem to be heading in the right direction. the company is busily enticing new users — it added 51 million last year alone, 45 million of those from outside the us. it now has 265 million active monthly users, a figure that's bound to interest investors. oli

horribly wrong five hundred million dollars invested as a low cost airline basically didn't work jet airways were not in the low cost market three years later you saw competition coming in or asia you saw indigo airlines and you saw spice jet come in low cost entrance and basically jet airways being a full service i couldn't really cope with that competition and they never tackled the competition furthermore you've got the value of the rupee has been weakened of the last couple of years fuel prices have gone up as a result and it really just didn't work and on top of that you know you've got management which really really did not appreciate what was happening in the indian market which is one of the biggest in the world so a lot has to be blamed on managements in terms of how they run the airline and outside forces as well in terms of fuel prices and do you sort of in the list see a deal. is there a deal to be made to. buy this out to keep this going to get employees paid anything. i think this is this is a situation that's dragged on for so long it's a very precarious situation i certainly

india low cost carrier spice jet says it will prioritize hiring more employees of foundering rival jet airways jets managing director said the company had already taken on more than five from jet airways pilots cabin crew and technical staff jet airways grounded all its planes this week indefinitely after failing to secure urgently needed funds the international monetary fund is grinding mozambique a one hundred eighteen million dollar credit facility it's to help the country rebuild after cycling killed hundreds of people and flattened whole video last month the worst cycle in decades last the eastern indian ocean coast the world bank says affected countries will need over two billion dollars to recover south africa's government has been forced to bring forward its bailout of state power company eskom to avoid default over three hundred fifty million dollars into the struggling utility and could provide more soon as supplies more than ninety percent of south africa's electricity needs. now after two decades of relative economic stability shortages of food and medicine have once again become a

now india's jet airways is holding all operations after bankers refused to lend more money the airline based in mumbai is the country's second biggest airline last year it carried twenty seven million passengers but the company's founder was forced out in march and the government has asked state lenders to help thousands of job losses will says jamil joins us live now from new delhi says jet airways has been struggling for some time now financially so was the airline been saying. adair and they began this morning by sending an e-mail to all passengers who had a future flight booked saying that those future flights had been canceled and jet airways had been reducing operations for months they only have five planes of a fleet of about one hundred fifty operating when they shut down operations or announced they would be shutting down operations wednesday night now this morning the consortium of lenders led by the state bank of india said that they will now they've released a statement saying that they're now going to push interested buyers to formally bid for the airline as the best way f

very complicated issues for passengers who booked tickets with jet airways.afghan delegation is set to take place in the gulf state of qatar this weekend. afghan women are calling for a stronger presence at the negotiating table to ensure the fragile gains they've won since 2001 are not lost. but afghanistan is still a deeply conservative society where women are fighting for their rights. 0ur chief international correspondent lyse doucet reports from kabul. building a different afghanistan takes time, it takes effort. even body—building has been taboo — for women. hooria kurbani's family used to say this is no place for a woman. now she has her own gym but faces threats in this conservative society to shut it. translation: we have fought for our rights up to now. we will never give up. we will continue to fight. do you worry now, now that there's talks with the taliban, that you could lose some of this? translation: i have spent all my life in a society that's full of fear, we are always in danger — i'm used to it now. zan tv, women's tv, trying to change a m

want to india's biggest airlines jet airways is halting all operations after bankers refused to lend more money last year and carry twenty seven million passengers but the company's founder was forced out in march and the government has asked state lenders to help avert thousands of job losses creditors are in the process of appointing a new management board spoke to us by skype from new delhi. jet airways had about a twenty two and a half percent market share in india now at down to roughly twelve percent it's had financial difficulty for years twenty thirteen the airline came close to collapsing but thanks to a government rule change allowing some foreign investment into indian airlines it was saved when the hot air waves bought a twenty four percent stake in the airline but new domestic players especially low cost carriers kept eating into jet airways market share and profits since late last year they have problems paying back loans and paying employees now what this will mean for consumers and aviation expert has told al jazeera that the short term for domestic indian passengers

let's do business stock in jet airways plunged more than thirty two percent on thursday the ending carrier had its final flight today following its decision to ground its entire fleet its failed to secure emergency funding from banks jet airways has collapsed under the weight of heavy debt and rising oil prices which are also the main reasons for a whole host of high profile aviation failures last month iceland's budget carrier wow air which flew transatlantic flight ceased operations leaving travelers stranded similarly in twenty seventeen over one hundred thousand passengers were left stuck abroad when the british airline monarch collapsed and just one month later germany's second largest carrier air berlin went bankrupt the last major indian carrier to go bust was kingfisher airlines in twenty twelve jet airways.

yvonne: we have been following this jet airways story, but what other stocks should be watching -- shouldg? what is on your radar now? >> aside from jet -- jet is obviously going to be the big watch -- but there are two other stocks to watch from a market standpoint, one being reliance industries. that has 10% of the index. now there are news reports saying saudi aramco is looking to pick up a stake in its refining business for about $10 billion. that is going to stir a lot of interest. the other one is going to be mine three. they are reporting their quarter for numbers area yesterday was a market holiday. important part is how shareholders are going to react to counterbalance what the open offer is making. whether they reduce the open offer or will try to lure shareholders back. two stocks to keep an eye out for this morning. yvonne: we will be watching. divina connor joining us with the latest out of mumbai. let's do a check of the business flash headlines. the u.s. communications regulator wants china mobile's barred from the american market, potentially opening a new front in the tra

by a third the allen was until recently india's second biggest carrier by market shab jet airways has more than a billion dollars in debt over his money to suppliers and thousands of employees who paid been paid for months it was already in the trolls the airline led by the state bank of india is looking to sell a controlling stake in jet airways and has short listed for potential buyers into the it's how their way is which already owns twenty four percent. now from company boss to presidential contender we've heard that story before terry go the billionaire founder of tavernise electronics make a fox call has said that he's stepping down from his post to run for president of taiwan already the richest man in the country he now wants to become the most powerful and he hopes for some divine intervention. mean i'm foxconn chairman terry goos run for president is divinely inspired at least that's what he said in this temple to the sea goddess matsu he claims that matsu came to him in a dream encouraging him to step up for the taiwanese people that's quite an indorsement as it is but it h

jet airways once india's biggest airline is holding all operations after bankers refused to lend more money mounting losses force that to counsel flights over the past few months the company's founder was forced out in march when the government state lenders to help avoid thousands of job losses creditors are appointing a new board let's bring in phase two meal he's joining us via skype from new delhi as we're saying it was regarded as one of india's biggest airlines how did the company get to this point phase. during it was a long road down unfortunately at its peak jet held about twenty two and a half of the market share in india now it's roughly about twelve percent it's had financial difficulties for years in two thousand and thirteen jet actually was close to collapsing but thanks to government rule change rule change allowing foreign direct investment to a certain extent into indian airlines they were saved when the hard airlines bought a twenty four percent stake but new domestic airlines low cost airlines kept eating into their market share and profit share and since late last

but that will take at least a few months now jet airways got to this point simply because it couldn't pay its bills anymore specifically for fuel and for airport charges but even stopped paying employees for months but despite that employee he's of remained loyal to the company many of them going without salary continuing to show up for work and now though they're staging protests trying to government attention investor attention to try to save the airline they remember the days when this was considered india's premier airline internationally their biggest private airline and they say that it can still be saved now also on thursday a consortium of lenders led by the state bank of india that effectively own a chunk of the airline say they believe the best way forward is to get any interested buyer to formalize their bid but that won't happen until may tenth. turning our attention to the states now for two years americans have been waiting to know what the report is all about the special counsel was investigating alleged ties between the president trump russia an edited version of the f

jet airways had about a twenty two and a half percent market share in india now at down to roughly twelve percent it's had financial difficulty for years in twenty thirteen the airline came close to collapsing but thanks to a government rule change allowing some foreign investment into indian airlines it was saved when the hot air waves bought a twenty four percent stake in the airline but new domestic players especially low cost carriers kept eating into jet airways market share and profits since late last year they have problems paying back loans and paying employees now what this will mean for consumers and aviation expert has told al jazeera that in the short term for domestic indian passengers prices will go up but indian flyers are very price conscious so they can only go up to a certain amount before people start flying and india with the having such a growth in the aviation industry it's believed that other competitors will fill the market share now internationally a bit different jet airways had many agreements and co-chairs with other international players particularly k.l. and

-- this long-running saga we have seen at jet airways?million payment when it comes to some of these loans. the state bank of india now has control over jet airways. the potential bidders for the company have certain ones in place. these are some of these areas where they will fall to challenges. that is the reason it is trending down by as much as 1.4%. thank you, as always. this is the most popular plane -- this is boeing's most popular planes. future maintenance says the impact on airline operations worsen from the second quarter. let's discuss this with the director of asian-pacific corporate. what is the measure -- major story and the aviation space? how does it affect aviation credit? >> it is a story that is still playing out. the impact is likely to increase in the second quarter. what we need to see is what is the delay. if it takes several months, obviously the impact on boeing would be higher. for airlines, i think what we can see over the next few quarters is that some of the airlines will take this opportunity to actually imp

you cash and life into the airline but new low cost domestic carriers have continued to eat into jet airways market share and profits formally announced the first jets founder well was forced to step down from the board in march after being criticised for continuing to spend on planes in premier landing slots as the airlines debts were piling up. for passengers in india at the grounding of jet is expected to lead to higher airfares but aviation analysts say that will be temporary and is one of the. growing. demand of the most. in some form of. not experiencing that kind of growth so i don't see that more than four to six months. later. the capacity gap. but that's little comfort for the tens of thousands of. yet employees who stuck with the company despite working on paid from the day i've joined so many of their land has given everything to us and sadly out of things a lot of things it seems. to be there you don't know what happened it's been very uncertain my p.s.r. loyalties to me the same because bad about the stand is because it is the former governor many hope their years of service in

look at jet airways it was india around the world? that's right. t private carrier, started in 93, at one point in time it was the largest carrier even within india and then in 2000 s started flying international, it had, you know, maximum numberof international, it had, you know, maximum number of passengers flying oi'i maximum number of passengers flying on international routes because of connectivity but things started to change or get worse for the airline from the mid—2000 s with the entry of low— cost from the mid—2000 s with the entry of low—cost carriers to the market because they changed the dynamics of the market. but the entry these airlines, ticket prices went down and these airlines were successfully able to keep the operational costs are able to keep the operational costs a re low able to keep the operational costs are low because unlike countries in europe and north america, here there is no clear demarcation between low— cost is no clear demarcation between low—cost carriers and legacy carriers, the tax structure is the same. that is

the misery is continuing for thousands of jet airways passengers and staff.airline appears to be on the brink of collapse. its board is meeting right now to see if it can find a way to keep the carrier flying after it was refused more cash by its lenders on monday. the airline has more than 1.2 billion dollars in debt and its pilots, who haven't been paid, have been threatening to go on strike. it's also extended cancellation of international operations until thursday. our correspondent monica miller is in delhi with the latest. have you heard any more about what was discussed in the board meeting? ijust spoke to was discussed in the board meeting? i just spoke to the pilots was discussed in the board meeting? ijust spoke to the pilots union and they said at this point they are expecting to meet with the ceo later. we believe the meeting is still going on. the pilots union had threatened to strike on monday at midnight which essentially would have grounded the entire airline but when i spoke to him about 30 minutes ago he said they cannot afford to strike at

they're fighting for their livelihoods these jet airways employees haven't been paid in months some not since last august and been taking a toll on them and their families education of children suffering parents is is not you know they can get off the way it was because all the introduces and things. before i thought that we might retire from here you see here is my son is also injured he's also flying as a pilot so if i were to drill a drill get into this situation i wouldn't have brought him in this. once considered india's premier private airline it suffered financial difficulties for years coming close to collapse in two thousand and thirteen until the hot airways bought a twenty four percent stake in fusing you cash and life into the airline but new low cost domestic carriers have continued to eat into jet airways market share and profits formally announce the first and jets founder well was forced to step down from the board in march after being criticised for continuing to spend on planes in premier landing slots as the airlines debts were piling up. for passengers in india at th

to some of the other business stories making news around the world once india's largest airline jet airways says it is suspending operations after failing to find lenders to keep it aloft the airline is sitting on more than a billion dollars in debt jet airways pilots complain that they haven't been paid in four months a total of twenty thousand jobs are at state. spanish police say they've arrested two men they call the country's most active distributors of counterfeit twenty euro bills they seize notes with a total forged value of over thirty thousand euros a large number of fake twenty year old bills were also found in the two suspects vehicle. the race to build the next electric car is on and there's one contender coming out of croatia played by ultimately remotes a start up by young croatian engineers they're competing with the likes of test lot in the battle for the hearts and minds for the environmentally conscious and super rich. it boasts twelve hundred horsepower and can excel rate from zero to one hundred kilometers an hour in a mere two and a half seconds and with the top speed

jet airways, talk us through where it sits on what it is in so much trouble.e market, depending on which way you look at it, but it is the second—largest domestic player and it is just a bit ahead of airlines internationally. it is basically a legacy carrier, a full—service carrier. it has missed out on the significant growth the indian market has seen from the introduction of low—cost carriers. we now have the largest domestic player being indigo, the number of passages they are carrying, and the indian market has grown exponentially in the last 15 years. being a legacy carrier, is the same old story, it has lots of baggage, it been around a lot time —— been around a long time, it cannot react to this market growing exponentially in india? i think that is one way of putting it. it is efficient in a way, but it is inefficient in comparison with, particularly with the golf carriers, —— gulf carriers, and in comparison with some of the european legacy carriers, but faced with that intense competition, it is not really a ble intense competition, it is not really

declines for jet airways, stocks t 2% down.mpany looks to the of on the abyss, teetering on the edge of bankruptcy. they used to operate a peak of 119 aircraft. the chronicle is claiming the carrier will delay march salary payments to employees, engineers and the like. atis all still going on jet airways. watch this space as the company bids to ensure its survival. let's get away from india. the central bank governor of thailand the focus as well, saying there is still financial weakness in his economy. he says these weaknesses are tackled through measures including macro prudential steps in monetary policy. he spoke exclusively to bloomberg earlier at a bankers meeting taking place. >> a major factor in my view that has contributed to the devaluation of economic growth is related to the trade attention that has been going on -- tension that has been going on for quite some time. hopefully the agreement being negotiated now with the u.s. and china will be able to materialize soon. if that happens, we could see more picking up o

once india's largest airline jet airways says it is suspending operations from wins tonight on boards after failing to find lenders to keep it afloat airlines is sitting on more than a billion dollars in debt jet airways pilot say they have not been paid in four months twenty thousand jobs are reportedly at stake former point b. and president alan garcia has died after shooting himself in the head just moments before he was due to be detained by police in the capital lima the sixty nine year old underwent emergency surgery at a local hospital after he shot himself he had been the target of an investigation for allegedly taking illegal payments from a major brazilian construction firm president garcia had always denied those allegations and. now to the u.s. and its target cuba the troubled ministration announcing new measures aimed at drawing up the flow of cash to cuba washington says it will limit the amount of money that families can send to relatives in cuba as well as curbing travel to the country by u.s. citizens the restrictions come just a day after the white house lifted a lon

one if india's biggest airlines jet airways is holding all operations after bankers refused to lend more money last year it carried twenty seven million passengers but the company's founder was forced out in march the government. to help avert thousands of job losses creditors are in the process of appointing a new management board spoke to us by skype from new delhi. jet airways had about a twenty two and a half percent market share in india now at down to roughly twelve percent it's had financial difficulty for years twenty thirteen the airline came close to collapsing but thanks to a government rule change allowing some foreign investment into indian airlines it was saved when the hot air waves bought a twenty four percent stake in the airline but new domestic players especially low cost carriers kept eating into jet airways market share and profits since late last year they have problems paying back loans and paying employees now what this will mean for consumers and aviation expert has told al jazeera that in the short term for domestic indian passengers prices will go up but indian

pilots at india's jet airways have reportedly been told by their union to put off a planned strike tors time to strike an agreement. more than 1000 pilots were planning to stop flying today, as they have not been paid for three months. with more than 1.2 billion us dollars of bank debt, jet airways is battling for survival and is yet to receive a loan as part of a rescue arrangement which was struck last month. staying with the aviation industry, china is expected to overtake the united states as the biggest market over the next three yea rs. biggest market over the next three years. and with over a billion passengers each year, beijing is set to open a brand—new airport this autumn. stephen mcdonald went along to have a look. it is being touted as the world ‘s largest single airport terminal and it will eventually handle more than 100 million passengers every year, using six runways. beijing already has an enormous airport in the north—east. when we heard there was to bea north—east. when we heard there was to be a new airport in the south of the city and it was to be the biggest in

plus india's second largest airline runs out of money yoffe does jet airways have a future. on money looking for a route out of russia and into the european union appears to have found a crack in the banking system tens of billions of dollars has been laundered through mostly baltic nations swamping the outposts of nordic banks it's been an ongoing headache for european regulators and now a different issue entirely has raised the anxiety levels in european capitals russia plans to move the headquarters of its development bank to hungary we'll get into that in a moment but first let's get to grips with the scale of this money laundering problem and some of the numbers behind it around one trillion dollars has been moved out of russia over the last twenty five years by individuals and companies not all illicit but that's money that has not returned to the country other sources of the money include moldova and as a by john. the money has been moved via malta cyprus estonia latvia and lithuania in the biggest money laundering case two hundred thirty billion dollars was transferr