According to reports from the Financial Times, the UK has recently uncovered a large-scale money laundering scheme involving drug traffickers and Russian spies. The scheme operates in London, Moscow, and Dubai, involving billions of dollars and allowing sanctioned individuals to evade regulation using cryptocurrency. The UK's National Crime Agency (NCA) noted that the investigation, dubbed 'Operation Disrupt Stability,' focuses on two companies—Smart and TGR—that act as financial hubs for criminals and sanctioned individuals.
From the end of 2022 to the summer of 2023, the network was exploited by multiple criminal groups, including the Kinahan drug trafficking group and Irish cocaine traffickers connected to several contract killings. NCA Operations Director Rob Jones stated that this is the most significant money laundering operation the NCA has ever undertaken, targeting large-scale money laundering centers that combine street cash with cryptocurrency.