Kozlov prevented other banks from continuing operation by denying them access to the deposit insurance system.
In 2004, Kozlov took control of Sodbiznesbank, accusing the bank of engaging in laundering ransom money from hostage-taking.
"[1] After his death, Kommersant credited Kozlov with combating "gray schemes," illegal importing practices that minimize customs duties and value-added tax payments.
If Malmstein failed to stop the outflows from Russia to the West, then Kozlov would reveal the terrible banking structure in Estonia to the world (Russian: "каналами для отмывания в Европе и Америке денег преступных группировок").
[12][13] A very large amount of money had transited accounts with funds from the Nord Stream 1 project to finance the building of a pipeline from Vyborg, Russia, to Lubmin near Greifswald, Germany.
[14][15][16] According to Natalia Morar's 21 May 2007 article in The New Times, Alexander Bortnikov, who was an FSB deputy deputy director as head of its economic security department, and Vladimir Putin were money laundering Nord Stream 1 funds at both Raiffeisen Zentralbank (RZB) in Austria and Diskont Bank in Russia.
[3] Prime Minister Mikhail Fradkov ordered Prosecutor General Yury Chaika, who is personally prosecuting the case,[citation needed] to provide regular reports on the investigation.
[20] Levan Zolotarev, a senior vice president at Russian Standard Bank, said, "Kozlov was a strong believer in reforming the financial markets of Russia.
Recently they worked together on amendments to a bankruptcy bill, which was to be voted on in the Duma in late 2006, making subordinated loans equivalent to capital.
"[citation needed] Anatoly Chubais, Chairman of RAO UES, said Kozlov was "an undoubtedly honest, principled, and absolutely non-commercial man.
"[21] Mikhail Grishankov, a senior member of the lower chamber of parliament, said the assassination was a spit in the face of the state.
This is a terrible murder of a person who protected interests of the state and opposed schemes used by some banks to legalize revenues of shadow and criminal business.
"[citation needed] Oleg V. Vyugin, Russia's chief securities regulator, in a telephone interview, said, "It was criminals taking revenge for the legal actions of the central bank, and unfortunately Mr. Kozlov paid the price.
Allegedly he tried to bribe other jurors to rule Frenkel not guilty, because he did not agree with the manner in which the judge carried out the trial.