UK and USA fight money laundering from oligarchs and drug gangs

UK and USA fight money laundering from oligarchs and drug gangs

The United Kingdom and the United States' authorities announced a comprehensive offensive against two billion dollar money laundering networks on Wednesday. These networks are said to have washed funds for the Russian elite, cybercriminals and drug dealers worldwide.

Details of the investigation

The US Ministry of Finance has suspected suspects who are considered to be high-ranking members of one of the money laundering rings. The alleged leader of the other money laundering ring is in police custody in France, as sources to CNN reported. A three-year investigation by the United Kingdom of National Crime Agency (NCA) has provided some of the clearest public evidence to date on how Russian-speaking groups act as a financial hub for ransomware criminals that blackmail victims by millions.

The influence of sanctions on the Russian elite

According to the sanctions against Russia imposed by Western governments, the Russian elites needed new opportunities to hide their money in the course of the large -scale invasion of Ukraine in 2022. The two alleged money laundering networks offered them a financial lifeline, according to the investigators. "When the situation became more difficult and these elites continued to enjoy their lifestyle in the West, they turned strongly to these money laundering networks," said Lyne, head of the Cyber ​​intelligence of the NCA, compared to Cnn.

Investigations and arrests

The western investigative authorities have already made 84 arrests in connection with these activities, according to the NCA, the main authority of the United Kingdom to combat organized crime. They hope that the latest arrests will provide new findings for the next offensive measure against the mighty networks. "For the first time we were able to show a connection between Russian elites, crypto-rich cybercriminals and drugs on the streets of the United Kingdom," said Rob Jones, General Director of the NCA, in a statement.

sanctions against suspicious persons

The Ministry of Finance announced that sanctions were imposed against alleged leadership leaders of one of the money laundering networks known as TGR. The sanctioned include a Ukrainian man named George Rossi, a Russian woman named Elena Chirkinyan and a Latvian man named Andrejs Bradens, all of whom are seen as key people in the network. CNN tried to achieve it for a statement.

The network and its way of working

The two money laundering networks serve criminal activities that extend from Dubai to Dublin. According to the NCA, a typical money laundering cycle through these networks is as follows: Cybercriminals in Russia need a place to transfer their cryptocurrencies; They exchange them for cash with a drug gang in the United Kingdom. The drug gang then uses cryptocurrency to buy drugs from a South American cartel and sell it on the streets of the United Kingdom. The money launderers take the cash from drug sales and transfer it into the legitimate global banking system.

connections to the Russian government

NCA officials claim that the Kremlin benefited directly from some money laundering activities used to finance Russian espionage operations. CNN asked the Russian embassy in London to comment.

arrest and allegations against Ekaterina Zhdanova

The alleged money launderer, reported by the sources that she is detained in France, is called Ekaterina Zhdanova. It is a long-standing goal of the US criminal investigation authorities. The Ministry of Finance sanctioned them last year for its presumably complex money laundering systems. The spokesman for the Foreign Ministry, Matthew Miller, accused her of having used cryptocurrency to laundry hundreds of millions of dollars on behalf of sanctioned Russian elites.

conclusion and further measures

The investigation is the most recent example of how law enforcement agencies have to combine modern technology for combating crypto payments and traditional methods such as observations and hidden information worldwide to combat transnational crime organizations. Several US criminal prosecution authorities, including the DEA and the IRS, have used similar methods to strengthen their persecution of Mexican drug cartels that import fentanyl into the USA.