Global Crackdown on Russian Crypto Money Laundering Networks

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned five individuals and four entities linked to the TGR Group, an international network facilitating sanctions evasion for Russian elites using digital assets. This action, in collaboration with the UK, UAE, and other agencies, targets the use of stablecoins like Tether to bypass sanctions. Key figures include George Rossi and Elena Chirkinyan, who are involved in laundering funds and obfuscating financial transactions. The sanctions block U.S. persons from engaging with these entities and individuals, aiming to disrupt illicit financial activities.