UK Cracks Down on $86 Billion Russia-Linked Crypto Pipeline

Britain is cracking down on Russia-linked cryptocurrency transactions, issuing its first nationwide industry alert on the A7 network and pushing compliance teams to scrutinize payment routes more closely.

The alert, issued by the National Crime Agency, directs banks, payment providers, and crypto firms to examine counterparties, intermediary wallets, and cross-border infrastructure linked to Russia-related transactions.

Rachael Herbert, Director of the National Economic Crime Centre (NECC) at the National Crime Agency, said: 'The National Crime Agency and the National Economic Crime Centre are committed to targeting the nexus between organized crime and sanctions evasion.'

The move comes alongside a government plan to double the maximum civil penalty available to the Office of Financial Sanctions Implementation for breaches involving measurable funds or economic resources.

A7 operates a cross-border settlement network that UK authorities say has used financial institutions in third countries, SWIFT and other international payment infrastructure to help Russian clients move funds around sanctions.