Russian involvement in Cyprus was widely recognised during the acute phase of the most recent Euro Zone crisis. The issue has been widely discussed in recent months due to the critical financial situation in Cyprus and huge interest of Russian’s political and business elite. Here is a paper conducted by VOXEU.org research portal which argues that some of this crisis was driven by corruption-linked money laundering. What is special about this paper is that using official Russian statistics it provides empirical evidence on the link between money laundering and Russian round-trip investment via Cyprus and the British Virgin Islands. Whilst their conclusions may be controversial, it is worth reading.
The full research here Russian Cyprus round-tripping: Corruption-linked money laundering | vox.