An international sting operation has uncovered a multibillion-dollar Russian money laundering network used by UK drug dealers to hide criminal cash. The operation involved Russian-speaking hackers, street gangs in Britain, an Irish cartel, and even the Russian state, which used the network to fund spies and move funds from Kremlin network RT to journalists in the UK. Ekaterina Zhdanova, a Russian national born in Siberia, led the criminal operation and has been arrested in France. Another key figure in the ring, Georgy Rossi, is currently missing.
The network charged up to 3% for transactions of billions of dollars, with funds often being routed through the Middle East, including the United Arab Emirates. The operation had reach across more than 30 countries, and the individuals involved are believed to have pocketed millions from the illegal activities. The National Crime Agency (NCA) has described this investigation, named Operation Destabilise, as their largest money-laundering case in the last decade. A total of 84 arrests have been made, and £20 million has been seized within the UK. The NCA estimates that the network would need to launder around £700 million to recoup the money seized.
The operation connected Russian elites, cybercriminals, and drug gangs in the UK, and helped facilitate criminal activities such as extortion attempts and the laundering of drug money. The network was allegedly involved in ransomware attacks targeting UK victims, including hospitals, schools, businesses, and local authorities. By swapping dirty money for cryptocurrency, drug dealers in the UK were able to purchase drugs from South American cartels, while Russian cybercriminals used the system to acquire assets such as properties abroad. Law enforcement officials have emphasized that the network operated in plain sight, moving large sums of money connected to the drugs trade and serious violence on the streets.
The discovery of the money laundering network began with the arrest of Fawad Saiedi in London in November 2021, who was found with over £250,000 in cash. Saiedi was later jailed for possessing and transferring criminal property and was believed to have been involved in laundering more than £15 million under the guidance of Zhdanova and her associate Nikita Krasnov. Two UK cash couriers were also involved in overseeing the laundering of millions of pounds in a short period. The NCA collaborated with law enforcement agencies in the US, Ireland, Jersey, and France to dismantle the network that spanned 30 countries. Additionally, the US has imposed sanctions on individuals linked to the network, including Zhdanova’s associates.
Overall, Operation Destabilise has disrupted a sophisticated criminal network that involved Russian elites, cybercriminals, drug dealers, and other criminal entities operating across multiple countries. The investigation sheds light on the intricate web of money laundering and criminal activities facilitated by the network, including extortion schemes and the trafficking of illicit funds through cryptocurrency. The collaborative efforts of law enforcement agencies have resulted in numerous arrests and significant seizures of criminal proceeds, underscoring the importance of international cooperation in combating transnational organized crime.
