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NEWS: Over $175M in dirty money flowed through Luxembourg bank BIL in ‘Azerbaijan laundromat’ scheme, UK says

Head office of BIL in Luxembourg City

BY PAUL O’DONOGHUE, Senior Correspondent

ACCOUNTS at Banque Internationale à Luxembourg (BIL) played a key role in moving embezzled funds from Azerbaijan, according to the UK’s National Crime Agency (NCA).

An investigation by the Organized Crime and Corruption Reporting Project (OCCRP) highlighted NCA claims that over $175 million in misappropriated funds from Azerbaijan’s state-owned International Bank of Azerbaijan (IBA) flowed through BIL.

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