The US Department of the Treasury of Foreign Assets Control (OFAC) office has punished a Russian national for its involvement in money laundering and transferring funds with the help of virtual currency on behalf of Russian elites.
Ekaterina Zhdanova reportedly played a crucial role in helping Russian elites and illegal actors in avoiding American and international sanctions, in particular by operating virtual currency.
After Russia had invaded Ukraine in 2022, OFAC imposed extensive economic sanctions on the Russian financial system. Zhdanova, in March 2022, would have helped a Russian client to cover up the source of more than $ 2.3 million, which was stimulated to Western Europe by fraudulent investment accounts and to acquisitions of real estate.
Zhdanova used virtual currencies to facilitate cross -border transactions and to raise the levertities without anti -money laundering practices/combating the financing of terrorism (AML/CFT) controls, such as the Russian Cryptocurrency, Garrexe, Garrexe, GarantoGe.
She reportedly used several methods, including cash, connections with international money laundering practices and traditional companies such as a luxury watch company with a global presence.
Zhdanova has also performed virtual currency transfers on behalf of Oligarchs who have moved internationally. One copy included more than $ 100 million in wealth for a Russian oligarch to the United Arab Emirates.
She also facilitated the United Arab Emirates Tax Residency Services for Russian customers, which may be obscured for their identity to create a fund jump that is managed worldwide with at least international supervision.
Furthermore, Zhdanova granted its services to persons associated with the Russian Ryuk Ransomware group, reportedly the money laundering of more than $ 2.3 million in suspected victim payments for a Ransomware branch in 2021. The Ryuk Group has threatened a significant cyber crime, mainly targeted in the United State.
Read more about Ryuk: More DDOS, more leaks: where ransomware goes in 2023
“Through important facilitators such as Zhdanova, Russian elites, ransomware groups and other illegal actors tried to avoid us and avoid international sanctions, in particular through the abuse of virtual currencies,” according to secretary of the treasury chest for terrorism and financial intelligence, Brian E. Nelson.
“We remain aimed at protecting the American and international financial system against those who want to operate this technology, in addition to other illegal financial risks in the ecosystem of virtual assets.”