The UK’s National Crime Agency (NCA) has unraveled the intricate web of two expansive Russian money laundering networks that operated on a global scale, facilitating criminals worldwide, including well-known ransomware groups. The operation, named Operation Destabilise, shed light on the inner workings of the “Smart” and “TGR” networks—criminal organizations that funneled billions of pounds while supporting various illegal activities, such as cybercrime, drug trafficking, and sanctions evasion.
This multi-agency investigation, unveiled today, marks the culmination of a prolonged international probe spearheaded by the NCA and bolstered by collaborators like the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), the FBI, and authorities in the UAE, France, and Ireland. To date, the operation has led to 84 arrests, the confiscation of over £20 million in cash and cryptocurrency, and the dismantling of a highly sophisticated criminal infrastructure spanning more than 30 countries.
A spokesperson from the NCA stated, “Operation Destabilise has exposed billion-dollar money laundering networks operating in ways previously unknown to law enforcement. For the first time, we’ve been able to link Russian elites, crypto-rich cybercriminals, and UK drug gangs under one sprawling criminal web.”
The investigation honed in on two pivotal networks, Smart and TGR, which worked hand in hand to provide a seamless money laundering service. Smart, overseen by Ukrainian George Rossi, specialized in navigating illicit funds through intricate channels, often converting cash to cryptocurrency to obfuscate the money’s origins. On the other hand, TGR, led by Russian Ekaterina Zhdanova, focused on managing courier networks and orchestrating large-scale cash handovers. Zhdanova collaborated closely with her deputies Khadzi-Murat Magomedov and Nikita Krasnov, who coordinated couriers in the UK and beyond.
These networks offered mutually beneficial services, aiding UK-based drug gangs in laundering cash and reinvesting it in illicit activities like drug and firearm trafficking, while simultaneously enabling Russian elites and cybercriminals to circumvent international sanctions and invest in Western economies.
At the core of Smart and TGR’s operations was a complex yet efficient scheme that involved cash collection, crypto conversion, and global laundering. Investigators uncovered over 55 cash handover locations across the UK alone, with couriers like Fawad Saiedi laundering £15 million before being sentenced to prison. Other couriers, such as Semen Kuksov and Andrii Dzektsa, facilitated transactions exceeding £12 million in just two months, operating across the UK and Europe.
The ramifications of Smart and TGR extended beyond physical crime, with the networks laundering millions for ransomware gangs and assisting Russian oligarchs in bypassing financial restrictions, posing a threat to Western economies. The combined efforts of the NCA and international partners resulted in sanctions against key figures in the networks, aiming to dismantle their financial infrastructure and disrupt their global operations.
The success of Operation Destabilise sends a clear message that the UK is cracking down on money laundering operations. Increased law enforcement activity has already made it harder for Russian-speaking laundering networks to operate in London, with many now charging higher commission rates due to elevated risks.
Security Minister Dan Jarvis commended the operation, highlighting the UK’s commitment to combating economic crime and working with allies to tackle illicit finance. The NCA emphasized the importance of community vigilance in identifying and addressing criminal activities, emphasizing how money laundering deprives society of essential funds for public services.
By dismantling these networks, the NCA and its partners have not only targeted money laundering but also the broader landscape of violence, cybercrime, and corruption that it sustains. The operation serves as a significant blow against organized crime and stands as a testament to the collaborative efforts of international law enforcement agencies in combating global criminal networks.