Operation Destabilize: Unveiling Russia-Linked Money Laundering Web

British authorities have dismantled two major money laundering networks connected to Russia, targeting cybersecurity criminals and drug dealers. The operation, known as Operation Destabilize, resulted in the seizure of 20 million pounds in cash and cryptocurrency, and the arrest of 84 suspects. It highlighted links between Russian elites and global crime activities.

The National Crime Agency (NCA) in the UK announced the disbandment of two extensive money laundering operations connected to Russian oligarchs, organized crime groups, and cybercriminal elements. These networks enabled criminals and wealthy Russians to launder vast sums into the UK economy through illicit financial streams.

Dubbed Operation Destabilize, this international effort resulted in the confiscation of 20 million pounds (USD 25.4 million) worth of cash and cryptocurrency. The operation was synchronized with the US's imposition of sanctions on key figures at the helm of these laundering schemes, marking a significant move against financial crimes connected to Russian influence.

Authorities mapped connections linking Russian elites with cybercriminals and drug gangs in the UK. These networks, classified as Smart Group and TGR Group, facilitated the conversion of cash into cryptocurrency, aiding the evasion of international sanctions post-Russia's Ukraine invasion. Investigations also showed fund channelling to Russian state activities abroad, including espionage and media operations.

(With inputs from agencies.)