November 6, 2023 at 11:20AM
Ekaterina Zhdanova, a Russian woman, has been added to the US Treasury’s Specially Designated Nationals And Blocked Persons list for her alleged involvement in money laundering activities on behalf of oligarchs and ransomware criminals. She is accused of moving funds for the Ryuk ransomware operation and helping wealthy individuals hide their assets. The US believes that sanctions on Russia are impacting its economy, but reports suggest that Russia is still able to procure high-end goods and ransomware attacks continue to be lucrative.
The meeting notes discuss the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) adding Ekaterina Zhdanova to its Specially Designated Nationals And Blocked Persons List (SDN). Zhdanova is accused of being a career money launderer and is alleged to have moved hundreds of millions of dollars on behalf of oligarchs and ransomware criminals. She is specifically linked to the Ryuk ransomware group and is accused of laundering over $2.3 million in 2021. Zhdanova is known to use various methods to move funds and launder criminal proceeds, including cryptocurrency exchanges and a network of international money launderers. She has also been commissioned by wealthy Russian elites to move funds internationally and has allegedly helped hide their identities. The US has imposed sanctions on Zhdanova and other Russia-tied targets in response to Russia’s invasion of Ukraine. The impact of the sanctions on Russia’s economy is discussed, with the US believing that ongoing pressures will further weaken the Russian economy in the coming years. Despite sanctions, Russia has reportedly been able to import high-end tech, with assistance from China and illegal shipments from other countries. Additionally, the ransomware industry remains resilient to disruption attempts, and victims continue to pay ransom demands, despite it being illegal to do so.