Odaily Planet Daily News According to the Financial Times, an operation led by the UK has uncovered a multi-billion dollar money laundering scheme operating in London, Moscow, and Dubai, which has allowed Russian spies and European drug traffickers to evade sanctions using cryptocurrency. The UK National Crime Agency (NCA) stated on Wednesday that its 'Disruption Operations' investigation focused on two companies—Smart and TGR—which acted as financial hubs for wealthy global criminals and sanctioned individuals who operate outside the banking system due to cryptocurrency. The NCA reported that from the end of 2022 to the summer of 2023, this network was used by clients including the Kinahan drug trafficking group, Irish cocaine traffickers linked to multiple contract killings, as well as ransomware groups and 'Russian espionage activities'. NCA Operations Director Rob Jones stated that this investigation is the 'most significant money laundering operation' ever undertaken by the NCA. He said it 'targets money laundering centers that combine street cash and cryptocurrency on a large scale.'