The US Treasury imposed sanctions against a Russian woman for money laundering in cryptocurrencies


Reaction score
The US Treasury has imposed sanctions against a Russian woman for money laundering in cryptocurrencies.

Ekaterina Zhdanova is accused of facilitating transactions of a Russian oligarch to the United Arab Emirates amounting to more than $100 million, as well as handling large sums for fraudsters using the Ryuk ransomware program.

According to the investigation, Zhdanova provided assistance to wealthy Russian citizens by arranging for them to gain access to Western financial markets and facilitating cross-border money transfers using cryptocurrencies.

Its methods included providing tax residency and identification services in the UAE, allowing clients to appear to have funds of legitimate origin. This deception method was designed to bypass the scrutiny of international banking authorities.

According to US authorities, Zhdanova used the services of organizations that did not comply with anti-money laundering (AML) and counter-terrorist financing procedures, such as the sanctioned Russian exchange Garantex.

Zhdanova also used traditional businesses to access the international financial system, including through a luxury watch company with offices around the world, OFAC said in its investigation.

I'm clearly doing something wrong