Ekaterina Zhdanova

__NOTOC__ 
Ekaterina Zhdanova is a Russian businesswoman who gained international attention for her alleged involvement in a large-scale money laundering operation that used cryptocurrency networks to move billions of dollars for Russian oligarchs, criminal organizations, and intelligence agencies. Her activities came to light as part of a major investigation and crackdown by UK authorities in late 2024.
== Background ==
While specific details about Zhdanova's early life and career are limited, she is believed to have been a key figure in the development and operation of sophisticated "crypto-rich" networks that functioned as illicit clearing houses across Europe, the Middle East, and South America. These networks were designed to collect cash in one country and make equivalent value available in another, effectively laundering money on a massive scale.
== Activities ==
Zhdanova's alleged operations were part of a complex laundromat capable of supporting various criminal activities. The networks she helped establish and manage were reportedly used by Russian oligarchs, street gangs, and intelligence operatives to move large sums of money internationally while evading detection and sanctions.
The system operated by swapping cash for cryptocurrency, leveraging the pseudonymous nature of many digital assets to obscure the origin and destination of funds. This method allowed for the rapid movement of billions of dollars across international borders, bypassing traditional financial oversight mechanisms.
Zhdanova's illicit financial operations were diverse and extensive:
* In March 2022, she helped move over $100 million in virtual currency to the United Arab Emirates on behalf of a Russian oligarch.
* She created a United Arab Emirates tax residency service for Russian clients, involving payments in both cash and virtual currency.
* In 2021, Zhdanova laundered more than $2.3 million for an affiliate of the Russian Ryuk ransomware group, which originated from victim payments.
* She utilized services lacking proper Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) controls, including the Russian crypto exchange Garantex.
* Zhdanova also moved money through traditional means, including cash transactions, connections to other money launderers, and a luxury watch company.
* In March 2022, she assisted a Russian client in obscuring and moving more than $2.3 million to Western Europe through a fraudulently opened investment account and real estate purchases.
== Sanctions ==
On November 3, 2023, the U.S. Department of the Treasury's OFAC sanctioned Zhdanova. The sanctions prohibit most transactions between Zhdanova and U.S. financial institutions or individuals. Additionally, any of Zhdanova's property held by U.S. entities is blocked and must be reported to OFAC. The sanctions specifically listed three Bitcoin addresses associated with Zhdanova.
== Legal Actions ==
In December 2024, the UK's National Crime Agency announced that they had successfully shut down the networks associated with Zhdanova and her collaborators. The operation, which involved extensive international cooperation, was described as a significant blow to global money laundering operations and the financial infrastructure supporting various criminal enterprises.
== References ==	
Category:Sanctions
Category:Money Laundering
Category:Cryptocurrency
Category:Russia
Category:Financial Crime
Category:Sanctions Evasion