Russian money-laundering network used by Kinahan cartel has been dismantled

Bundles of banknotes seized by Britain's National Crime Agency as it and other international agencies brought down a multibillion-dollar money laundering network run by two Russian millionaires. Picture: National Crime Agency/PA

The Kinahan cartel and other Irish organised crime groups used the money-laundering services of sprawling multi-billion-dollar Russian criminal networks that have now been hit by British and US agencies, assisted by gardaí.

The agencies said the two networks — Smart and TGR — also assisted Russian clients targeted by sanctions linked to the war in Ukraine and helped to fund Russian espionage operations.