Russian network enabled UK drug gangs to hide cash during lockdown.
Russia Money Laundering Network Uncovered
UK authorities expose a billion-dollar laundering operation tied to Russia. The National Crime Agency (NCA) uncovered a global network that laundered cash for UK drug gangs during the pandemic. The network, based in Moscow, used cryptocurrency to convert drug profits into untraceable assets.
Russian Connections to UK Gangs
Russian-led operations facilitated illegal cash flows. Investigators revealed Russian-speaking groups embedded in the UK drug market. These groups charged fees to convert gang profits into cryptocurrency, protecting them from detection.
The Role of Moscow-Based Exchanges
Two exchanges facilitated rapid laundering for gangs. Smart and TGR, cryptocurrency networks in Moscow, were key players. They offered British gangs a quick way to launder cash, using proceeds from ransomware attacks.
Couriers and Their Operations
UK-based couriers smuggled millions in drug cash. Couriers like Fawad Saiedi and Semen Kuksov transported and exchanged millions in drug money. Authorities uncovered a system involving 55 British locations over four months.
International Sanctions Target Key Figures
US sanctions hit network leaders in Moscow. The US sanctioned Ekaterina Zhdanova, head of the Smart exchange, and George Rossi of TGR. These leaders allegedly moved millions for Russian elites and supported espionage.
Disruption of Espionage and Crime
Crypto networks linked to Russian state activities. The Smart and TGR networks were tied to espionage activities, including funding Russia Today operations in the UK. This revelation underscores their dual role in criminal and state-funded schemes.
Law Enforcement Remains Vigilant
NCA warns criminals of intensified monitoring. The NCA’s actions disrupted key money-laundering channels. Authorities have seized millions and warned criminals that their operations are under constant scrutiny.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
