United

Read

<div class="cryptonews">
 <p class="is-style-lead">OFAC targets Ekaterina Zhdanova for laundering over $100m via crypto, evading sanctions for Russian oligarchs and aiding ransomware affiliates.</p>
 <p>The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced sanctions against Ekaterina Zhdanova, a Russian national implicated in significant money laundering operations involving cryptocurrencies. Zhdanova is accused of facilitating over $100 million in transactions for a Russian oligarch to the United Arab Emirates, as well as handling large sums for a Ryuk ransomware affiliate.&nbsp;</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">NEW!!! United States is <a rel="noopener noreferrer nofollow" title="sanction" href="https://thebittimes.com/tag/sanction.html">sanction</a>ing Ekaterina Zhdanova, a Russian national, for her role in laundering hundreds of millions of dollars using virtual currency on behalf of <a rel="noopener noreferrer nofollow" title="sanction" href="https://thebittimes.com/tag/sanction.html">sanction</a>ed russian <a rel="noopener noreferrer nofollow" title="elites" href="https://thebittimes.com/tag/elites.html">elites</a>. pic.twitter.com/zvVuuFgFIT</p>— Alex Raufoglu (@ralakbar) November 3, 2023
   </blockquote>
  </div>
 </figure>
 <p>According to OFAC’s investigation, Zhdanova’s activities offered a channel for Russian <a rel="noopener noreferrer nofollow" title="elites" href="https://thebittimes.com/tag/elites.html">elites</a> to maintain their wealth and status despite the extensive <a rel="noopener noreferrer nofollow" title="sanction" href="https://thebittimes.com/tag/sanction.html">sanction</a>s imposed following Russia’s invasion of Ukraine. Notably, her techniques included the establishment of tax residency and identification services in the UAE, enabling clients to create an apparently legitimate origin of funds. This deception technique was designed to withstand scrutiny from international banking authorities.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> The end of the Wild West”: What awaits crypto after the Bankman-Fried’s case
 </div>
 <p>Utilizing cryptocurrencies and entities with lax regulatory oversight, Zhdanova has been a pivotal figure in moving illicit funds across borders. Her association with the luxury watch industry further provided a facade of legitimacy and sustained access to the global financial network.</p>
 <h2 class="wp-block-heading" id="cybercrime-ties-and-sanction-details">Cybercrime ties and sanction details</h2>
 <p>Zhdanova allegedly laundered over $2.3 million in 2021 alone for the Ryuk ransomware gang. The group has notably targeted hospitals and healthcare providers in the U.S., representing a severe cyber threat.</p>
 <p>The <a rel="noopener noreferrer nofollow" title="sanction" href="https://thebittimes.com/tag/sanction.html">sanction</a>s mandate the freezing of Zhdanova’s assets within U.S. jurisdiction and prohibit transactions with her by U.S. persons. Financial institutions engaging with Zhdanova or associated entities risk <a rel="noopener noreferrer nofollow" title="sanction" href="https://thebittimes.com/tag/sanction.html">sanction</a>s or enforcement actions.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> 88.5% of Bitcoin’s supply has not moved for three months
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/u-s-treasury-sanctions-a-money-launderer-tied-to-russian-elites-tbt69005.html">https://thebittimes.com/u-s-treasury-sanctions-a-money-launderer-tied-to-russian-elites-tbt69005.html</a></p>

U.S. Treasury sanctions a money launderer tied to Russian elites

Table of Contents

TheBitTimes

Other articles published on Nov 3, 2023

FTX's Market Claim Pricing Hits New High as SBF Awaits Sentencing

SafeMoon Executive Misused Investor Funds; Will it Become FTX Pro?

SK Securities introduces fractional investment service with three partners

‘We were worried about ecosystem startups' — Solana CEO on FTX collapse

XRP Lawyer Brings Up Fraud Allegations On Sam Bankman-Fried’s Father

Bitcoin Booms and Solana Soars. Is eTukTuk ($TUK) Presale Next?

Join our free newsletter for daily crypto updates!