Police announce money-laundering probes at major Russian banks

Russian police are investigating a number of Russian banks and companies on suspicion of money-laundering, Russian news agencies quoted the head of the police department that deals with economic crimes as saying Thursday.

Sergei Meshcheryakov said police had searched firms both in Russia and overseas.

"On Wednesday a number of firms and structures were searched ...," Sergei Meshcheryakov said. "Specific investigative measures were also taken abroad."

Meshcheryakov said the searches were part of the police's everyday work. He added that the raids were not solely connected with a €5.9 billion money-laundering investigation at the shattered Yukos oil company, the AP reports.