US imposes sanctions on accused Russian money launderer trusted by the rich
s (SDN) blocked individuals, listing a number of offenses dating back to 2021. Among them is her alleged involvement in moving funds for criminals associated with the Ryuk extortion operation, known for its attacks on U.S. public sector organizations, particularly in the healthcare industry.
Jdanova is accused of laundering more than $2.3 million in 2021 dollars, believed to be related to ransom payments to victims, to a Ryuk affiliated controlled entity. Seven members of the Wizard Spider group believed to be behind Ryuk, as well as Conti and Trickbot, were sanctioned earlier this year, and 11 others were added to the SDN list in September.
The Treasury Department says Zhdanova is known for using various methods''movement of funds across borders and laundering of criminal proceeds. It notes that these include the use of cryptocurrency exchanges that have no controls to prevent money laundering, like Russia's Garantex, which is also subject to U.S. sanctions, as well as a large network of other international money launderers, cash and traditional businesses.
In addition to cybercriminal extortionists, it received orders from Russia's wealthiest elite members to move funds abroad, the agency says. In one case, it is alleged that one oligarch instructed Zhdanova to move more than $100 million to the UAE. Separately, she also provided tax residency services in the UAE for high-income clients and may have assisted''to conceal their identities, OFAC alleges. In another case, they say Zhdanova helped a Russian client hide the source of her wealth after transferring $2.3 million to Western Europe. She did this by illegally opening an investment account in the region and purchasing real estate, the Treasury Department alleges.
"Through the use of key intermediaries such as Zhdanova, Russian elites, extortion groups and other illicit actors have sought to circumvent U.S. and international sanctions, especially through the abuse of the''virtual currency,'" said Brian E. Nelson, U.S. Treasury Under Secretary for Counterterrorism and Financial Intelligence. "Our action today highlights the consequences of supporting corrupt Kremlin proxies, underscores the United States' efforts to address illegal money laundering using virtual currency, and exposes the criminal activities of a malicious actor," said U.S. State Department spokesman Matthew Miller. "This action is also consistent with the G7's commitment to combat sanctions circumvention and close loopholes that allow Russian Federation, its elites, proxies, and oligarchs to use virtual currency to mitigate international''Much of the assistance is reportedly being provided by China, while organizations from Hong Kong even from the UK are also illegally supplying machinery to Russia.
When it comes to extortion, the underground industry seems resistant to attempts to disrupt it, and sanctions do little to dumb down victims from paying ransom. Despite being prohibited from meeting the ransom demands of sanctioned groups, a significant proportion of extortion victims are still paying in 2023, according to Astra Security, claiming that 41 percent of all victims ignore Western advice on the matter. Chainalysis' semi-annual report on global cryptocurrencies in 2023 found that extortion criminals in 2023 are going''record its second most lucrative year, having already extorted more than $449.1 million from victims by June. For the same period in 2022, the total amount extorted was just $175.8 million.
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