Gardai Help Expose Billion-Euro Russian Money Laundering Network Linked to Kinahan Cartel

A major international investigation has uncovered a billion-euro Russian money laundering network that enabled the Kinahan cartel and other criminal organisations to evade global financial sanctions. Gardai, working closely with the UK’s National Crime Agency (NCA), have played a central role in the probe, which has already resulted in multiple arrests and the seizure of nearly €2 million in Ireland over the past two years.

The operation—codenamed Operation Debilitise—identified an extensive cash-to-cryptocurrency laundering system operating across Europe. Investigators found that the network had even purchased a bank in Kyrgyzstan to help sanctioned entities conceal assets and bypass U.S. restrictions imposed following Russia’s invasion of Ukraine.

One of the groups using this illicit financial service was the Dubai-based Kinahan cartel, currently under heavy U.S. sanctions introduced in April 2022 by the Department of the Treasury and the Drug Enforcement Administration (DEA). The crime syndicate allegedly relied on the Russian network to obscure its international financial activity.

Major Arrests and Cash Seizures in Ireland

Gardai confirmed they have arrested eight individuals as part of the Irish strand of the investigation, with almost €2 million in suspected criminal proceeds seized to date.

Key seizures include:

• €1.36 million confiscated in West Dublin this year
  
  
• €342,000 recovered from a couple in their 60s attempting to travel through Dublin Airport
  
  
• €638,000 seized during a vehicle stop in West Dublin
  
  
• €383,000 recovered during coordinated searches at four properties across North Dublin and Leitrim, where two men and two women in their 30s were arrested

Among those detained was a Ukrainian couple operating a travel agency, believed to have assisted in laundering cash on behalf of the wider network. The Garda National Drugs and Organised Crime Bureau (GNDOCB) is leading the Irish investigation.

“We Will Continue to Disrupt, Degrade and Dismantle These Networks”

Garda Assistant Commissioner Angela Willis emphasised the importance of international cooperation, stating:

“Recognising the global nature of transnational organised crime, An Garda Síochána continues to work closely with national and international partners, including the National Crime Agency. We will continue to disrupt, degrade, and dismantle these organisations whose activities harm communities across Ireland, the UK, and Europe.”

Russian Laundering Syndicates at the Centre of the Operation

The NCA identified “Smart” and “TGR” as the primary Russian-speaking networks behind the laundering system. They operated across at least 28 towns and cities in the UK, collecting criminal cash and converting it into cryptocurrency to disguise its origins.

According to the NCA, the networks not only supported cybercriminals, drug traffickers, and arms smugglers, but also helped wealthy Russian clients circumvent sanctions and invest illegally in Western economies.

The leaders of both networks—including Ekaterina Zhdanova, George Rossi, Elena Chirkinyan, and Andrejs Bradens—were sanctioned by the U.S. Office of Foreign Assets Control (OFAC) last December. Zhdanova is currently in pre-trial detention in France.

The UK also sanctioned Altair Holding SA, a company linked to Rossi, which owns a controlling stake in Kyrgyzstan’s Keremet Bank—an institution identified as a key tool for sanctions evasion.

“Crime in Local Communities Is Funding Global Threats”

Sal Melki, Deputy Director for Economic Crime at the NCA, drew a direct link between everyday drug consumption and international geopolitical threats:

“These networks launder money for global organised crime and help sanctioned Russian individuals bypass controls. That means people buying cocaine on Britain’s streets are unknowingly helping finance Russia’s war effort.”

He warned that low-level couriers involved in transporting or exchanging cash often underestimate the consequences. In response, the NCA has launched a multilingual awareness campaign:

“For a few hundred pounds, you could be risking over five years in prison. We want these individuals to understand the walls are closing in.”

A Significant Blow—But More Work Ahead

With over 120 arrests globally, investigators say they have significantly weakened the laundering infrastructure used by criminal organisations and sanctioned entities. But authorities warn that similar networks continue to operate, making ongoing international cooperation essential.