The Record: Russian money laundering networks uncovered linking narco traffickers, ransomware gangs and Kremlin spies

[Dennis Donovan]

The Record - Russian money laundering networks uncovered linking narco traffickers, ransomware gangs and Kremlin spies



Alexander Martin
December 4th, 2024

Following an investigation into how a ransomware gang was cashing out extorted cryptocurrency, British law enforcement on Wednesday announced uncovering a sprawling Russian money laundering system used by transnational drug traffickers, cybercriminals, Moscow elites evading sanctions and even the Kremlin’s espionage operations.

Internationally more than 80 people have already been arrested in Operation Destabilise — led by the U.K.’s National Crime Agency (NCA) — which was publicized as the United States announced sanctions against the networks’ most senior perpetrators, aiming to disrupt their access to global financial exchange systems.

The investigation “has exposed billion-dollar money laundering networks operating in a way previously unknown to international law enforcement,” according to Rob Jones, the NCA’s director general of operations, who added that for “the first time, we have been able to map out a link between Russian elites, crypto-rich cyber criminals, and drugs gangs on the streets of the UK.”

At the top of the chain are two Russian businesses called Smart and TGR Group, both based in Moscow’s landmark Federation Tower, who are accused of providing critical liquidity and logistics services allowing criminals to collect funds in one country and make the equivalent value available in another. This value often involves swapping cryptocurrency for cash at the drugs level, although the laundering service also used property and other stores of value including shares and bonds.

The companies, which are independent but were observed assisting each other, for instance to buy property, have a presence in 30 countries, from the U.K. and mainland Europe to the Middle East, Russia and South America, authorities said. Their clients included drug cartels in Colombia and Ecuador, the family-run Kinahan crime syndicate, the Trickbot/Conti/Ryuk cybercrime group, and unspecified Russian espionage operations.

The head of the Smart network has been identified as Ekatarina Zhdanova — a business celebrity in Russia, and “not your typical organised crime group boss,” as the NCA said — who had already been sanctioned by the U.S. Office of Foreign Assets Control (OFAC) last year. Her associates Khadzi-Murat Dalgatovich Magomedov and Nikita Vladimirovich Krasnov were identified and sanctioned on Wednesday. The TGR Group was led by George Rossi, assisted by Elena Chirkinyan and Andrejs Bradens (aka Andrejs Carenoks). All three have also been sanctioned, alongside four business entities: TGR Partners; TGR DWC LLC; TGR Corporate Concierge Ltd.; and Siam Expert Trading Company Ltd.

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[Hekate]

1. KnR

[Irish_Dem]

2. Putin is the mob boss of a huge Russian spy, hacking, laundering, sex/drug trade.

He has used this as a revenue source for waging war against the western democracies.

[DJ Synikus Makisimus]

3. Link that to the real estate market and they might be on to something.

Gotta park all that cash somewhere. Construction booms in major cities are usually underwritten by massive amounts of filthy money. See Miami and London for glaring examples, but it's hardly limited to those two burgs. DJT's history intersects directly here, dating back to days when there were one or two fewer zeroes at the end. All facilitated by a more-than-willing banking and investment industry who are major campaign donors. Ever wonder why housing costs outpace inflation in "boom markets?"

And then there's crypto, which is the newer, easier medium of transporting dirty money for laundering. It''s not good for much else, other than for purchases of contraband (drugs, children for sex, slave workers, illegal arms shipments to nefarious entities, etc.), purchases of which add to the churn. BTW, what are your local legislators' positions on crypto?