UK and US Crack Down on Russian-Linked Money Laundering Networks

The National Crime Agency has uncovered a major money laundering network involving Russian-speaking criminals who helped UK drug gangs convert cash into cryptocurrency during the pandemic lockdown. The operation, based in Moscow, facilitated the laundering of drug profits and was also used by the Russian state for espionage. The network spanned 30 countries, leading to 84 arrests, including 71 in the UK. Key figures, including Ekaterina Zhdanova, were sanctioned by the US. The network used cryptocurrency exchanges Smart and TGR to move illicit funds, complicating law enforcement efforts to track drug money.