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US, UK crack global money laundering ring used by Russians
The Straits Times
|December 06, 2024
The US and Britain announced on Dec 4 that they had disrupted what they described as a global money laundering ring used by rich Russians to evade sanctions, and which London said laundered cash for drug traffickers, criminals and spies.
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Britain's National Crime Agency (NCA) said the internationally coordinated law enforcement effort codenamed Operation Destabilise had disrupted the network spanning 30 countries.
The operation also involved the authorities in France, Ireland and the United Arab Emirates, the agency said. It has so far led to 84 arrests, and the seizure of over £20 million (S$34 million) in cash and cryptocurrency.
The network's reach stretched from Britain and mainland Europe to the Middle East and South America, supporting serious and organised crime around the world, the NCA said.
The US Treasury Department said it had imposed sanctions on members of the group, which it said helped elite Russians use cryptocurrency to evade sanctions imposed after Russia's February 2022 invasion of Ukraine.
This story is from the December 06, 2024 edition of The Straits Times.
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