They used cryptocurrencies to launder money through the United States.
The Treasury Department recently sanctioned a group of nine entities connected to Russian sanctions evasion operations, targeting individuals and organizations focused on using digital assets, like cryptocurrencies, to launder money through the United States. This digital network, called the TGR Group, operates on behalf of Russians to enhance their wealth through as many avenues as possible.
“Through the TGR Group, Russian elites sought to exploit digital assets—in particular, U.S. dollar-backed stablecoins—to evade U.S. and international sanctions, further enriching themselves and the Kremlin,” said Acting Under Secretary Bradley Smith of the Treasury’s Office of Terrorism and Financial Intelligence. “The United States, alongside our allies and partners, remains committed to disrupting any effort by Russia to use digital assets or other illicit financial schemes to accrue, store, and transfer their ill-gotten gains.”
As the Lord Leads, Pray with Us…
- For Acting Under Secretary Smith as he oversees efforts to track and prevent money laundering.
- For Secretary Yellen to seek God’s direction as she heads the Treasury Department.
Sources: Department of the Treasury
