Bangladesh, Sept. 18 -- On September 15, the Georgian Prosecutors Office announced the detention of Kakha Kotorashvili, a 49-year-old businessman and head of the currency exchange firm Fin, accusing him of masterminding the countrys largest-ever money laundering operation. According to prosecutors, the network allegedly funneled more than $660 million into Georgias financial system between 2022 and 2024, disguising the illicit origin of funds smuggled in from Azerbaijan.

If convicted, Kotorashvili faces up to 12 years in prison. Authorities have hailed the case as a landmark in Georgias fight against financial crime, but the accusations also expose deeper questions about systemic oversight failures, the role of banks, and the vulnerabili...