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Thursday, February 29, 2024

Designating Russian Virtual Currency Money Launderer

The United States is sanctioning Ekaterina Zhdanova, a Russian national, for her role in laundering hundreds of millions of dollars using virtual currency on behalf of sanctioned Russian elites. Zhdanova has also provided a range of virtual, cash-based, tax residency and other services to Russian clients seeking to launder funds or obscure the sources of their wealth. Among others, she has provided such services to individuals connected with a ransomware group that U.S. law enforcement identified as a cybercrime threat to healthcare providers in the United States.

Our action today highlights the consequences of supporting corrupt Kremlin proxies, underscores the United States’s efforts to address the abuse of virtual currency to launder illicit funds, and exposes an illicit actor’s money laundering activities. This action is also consistent with the G7’s commitment to cracking down on sanctions evasion and closing loopholes that allow the Russian Federation, its elites, proxies, and oligarchs to leverage virtual currency to offset the impact of international sanctions.

The United States is committed to safeguarding the integrity of our financial system, including the virtual assets ecosystem. We will continue to use all available tools to target Russia-based cybercrime and counter the threat posed by ransomware in coordination with national and international partners.

The Department of the Treasury is designating Zhdanova pursuant to Executive Order 14024  for operating or having operated in the financial services sector of the Russian Federation economy. For more information on this designation, see Treasury’s press release .

Official news published at https://www.state.gov/designating-russian-virtual-currency-money-launderer/

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