OFAC targets Russian crypto-enabled money laundering network for facilitating sanctions evasion
The US Treasury’s Office of Foreign Assets Control (OFAC) has today issued sanctions against a number of individuals and entities connected to Russian sanctions evasion, money laundering and the funding of espionage operations. The entities targeted by today’s action are believed to be connected to a money laundering network called TGR Group. OFAC has identified crypto addresses connected to two of these individuals, Elena Chirkinyan and Khadzi Murat Dalgatovich Magomedov.
In the accompanying press release, OFAC states; “the network provides a range of services to place, layer, and integrate illicit financial schemes into the global financial system. These include: the laundering of funds associated with sanctioned entities”…
