Ukrainian police have intercepted and broken up a criminal gang that was illegally bringing Russian money into the country online and converting it into cryptocurrency.
The Cyber Police of Ukraine identified six nationals engaged in the illicit transfer of funds after conducting a dozen raids in the cities of Kyiv and Cherkasy, as well as Zakarpattia region in the west of the country. Electronic data carriers, communication terminals, computer equipment, and records were seized.
“Criminals used a web resource that made it possible to bring currency in the form of Russian rubles to the territory of Ukraine, as well as conduct electronic money and cryptocurrency transactions,” said police, announcing the bust on October 13th.
Russian currency was brought into the country and concealed through the use of forged transfer documents and payment cards, and therefore did not show up in accounting or tax records.
Police are continuing their investigation to determine whether the crooks involved were acting independently or in collusion with Russia, which has been at war with Ukraine since invading the country in February last year.
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