The National Crime Agency (NCA) in the UK announced a successful law enforcement action: “Operation Destabilise” has disrupted Russian-speaking money laundering networks tied to drugs, ransomware, espionage, and sanctions evasion. With 84 arrests and £20M seized, the operation targeted two key networks, Smart and TGR, exposing a global nexus of organized crime and cybercriminals.
Key Points
- Targeted Networks: Smart and TGR, Russian-speaking groups enabling transnational crime, from the Kinahan drug syndicate to Russian oligarchs.
- Global Scale: Operations spanned the UK, Russia, Middle East, South America, and 30+ countries.
- Methods: Cash-for-crypto swaps facilitated money laundering for UK gangs, Russian cybercriminals, and elites bypassing sanctions.
- Impact: £20M in cash and crypto seized, 84 arrests, including high-profile operators sanctioned by OFAC.
- OFAC Sanctions: The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against the Russian-speaking men and women at the head of these networks, as well as four businesses linked to TGR.
Short Narrative
The NCA-led Operation Destabilise struck at the heart of Russian financial crime, dismantling two networks, Smart and TGR, that laundered billions globally.
- Smart is headed up by Ekaterina Zhdanova, who worked closely with Khadzi-Murat Magomedov and Nikita Krasnov to facilitate money laundering.
- TGR is run by George Rossi, his second in command Elena Chirkinyan, and Andrejs Bradens (also known as Andrejs Carenoks).
- Smart and TGR’s crypto addresses showed regular exposure to Garantex, the crypto exchange service that was sanctioned by the UK and US in 2022. Garantex has been linked to payments to companies for components of weapons used by Russia in its invasion of Ukraine.
Read our Garantex reports here.
All six have now been sanctioned by OFAC in the US. These networks enabled everything from UK street-level drug violence to Russian cyberattacks. Their strategy? Swapping illicit cash for crypto, helping gangs reinvest in drugs and firearms while laundering ransomware payouts and bypassing sanctions.
Actionable Insight
The NCA has set a precedent in exposing the intersection of oligarchs, cybercriminals, and organized crime. Compliance officers and crypto firms should watch for red flags linked to Smart, TGR, and exchanges like Garantex. Governments must tighten sanctions enforcement and AML controls.
Operation Destabilise was executed in close collaboration with UK law enforcement and international partners including OFAC, the Federal Bureau of Investigation, the Drug Enforcement Agency, the French Direction Centrale de la Police Judiciaire, and AGS in Ireland. The NCA also worked closely with authorities in the UAE to disrupt related money laundering activities.
Call for Information
Have insights into illicit crypto transactions, money laundering, or Russian kleptocrats? Submit tips anonymously at Whistle42.com. Whistleblowers may receive rewards for verified leads.
