UK dismantles massive money laundering operations tied to Russian oligarchs and cybercriminals

LONDON (AP) — British authorities say they have dismantled two massive money laundering operations linked to Russia that were used by oligarchs, organized crime groups, cybercriminals and drug dealers. The international sting known as Operation Destabilize seized 20 million British pounds in cash and cryptocurrency and arrested 84 suspects. It was revealed on the same day the U.S. announced new sanctions against several people at the top of the money laundering networks. Networks known as Smart Group and TGR Group allowed criminals and wealthy Russians to convert cash to cryptocurrency and vice versa, authorities said. They also helped them hide the illegal source of their funds or evade sanctions that were imposed after Russia invaded Ukraine.