Executive Summary
Cryptocurrencies (also referred to as crypto), while offering near-anonymous transactions, have become tools for money laundering, narcotics trade financing, sanctions evasion, and espionage operations. Russian criminal networks, military groups, and sanctioned entities exploit these assets for funding, weapons procurement, and also disinformation. Notably, traditional systems like Hawala have evolved by integrating cryptocurrency for discreet, global financial transfers. A look at one major Russian-speaking money laundering network reveals connections between Russian elites, organized crime, and sanctions evasion. This underscores the complexities of modern financial crime. Moreover, the Chinese Underground Banking Systems(CUBS) are increasingly integrating cryptocurrencies to bypass regulatory oversight, complicating anti-money laundering efforts globally.
Images Sourced From: Bitcoin.com, Intelligencer, TechCentral
