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“Cash-for-crypto” swaps! International Money Laundering Ring Dismantled by NCA
A three-year investigation, codenamed Operation Destabilise, by the UK's National Crime Agency (NCA) has dismantled an international money-laundering operation based in Moscow and Dubai. The ring, allegedly involving key figures in the Russian financial sector, used "cash-for-crypto" swaps to launder funds from ransomware attacks and drug trafficking. The operation, involving law enforcement from multiple countries, resulted in 84 arrests and exposed links to the Kinahan cartel. Key figures, including Georgy Rossi and Ekaterina Zhdanova, have been sanctioned by the U.S., highlighting the scale and sophistication of the criminal network. The NCA described the operation as revealing billion-dollar laundering networks previously unknown to authorities.
Published on 1 year ago