NCA Dismantles Major Russian Money Laundering Networks

British authorities, in collaboration with international partners, have dismantled two major Russian-led money laundering networks as part of Operation Destabilise, one of the UK's largest investigations into money laundering in recent years. The networks, known as Smart Group and TGR Group, were used to launder billions in cash and cryptocurrencies for Russian elites, cybercriminals, and drug gangs, circumventing sanctions and supporting espionage activities abroad. The operation, which resulted in 84 arrests and the seizure of £20 million, revealed the networks' extensive reach across 30 countries, including the UK, the Middle East, and South America. The masterminds behind the networks, Ekaterina Zhdanova and Georgy Rossi, allegedly charged up to 3% for laundering transactions, which involved converting cryptocurrencies to cash and vice versa. The US Treasury Department has also imposed sanctions on key figures involved in these illicit activities, further emphasizing the networks' global impact. This crackdown highlights the intricate links between high-level Russian figures, organized crime, and international cybercriminals.