Treasury Exposes Money Laundering Network Using Digital Assets to Evade Sanctions

*OFAC and foreign partners disrupt the TGR Group, an international illicit finance network that enables Russian elites to circumvent U.S. and international sanctions *WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning five individuals and four entities that are associated with or leverage the TGR Group, a sprawling international network of businesses and employees that have facilitated significant sanctions circumvention on behalf of Russian elites. This action also identifies a Wyoming-based entity that is owned 50 percent or more by a sanctioned individual. Today’s action continues the G7 commitment to hold accountable parties that evade or offset the impact of international sanctions, including by using digital assets, and to impose costs on illicit actors that use digital assets to enhance and transfer their wealth.These designations are the result of a collaborative effort with the United Kingdom’s (UK) National Crime Agency, the United Arab Emirates (UAE) government, the Drug Enforcement Administration,