Financial Times reports A7 moved over $6.9 billion through global banks via Swift gaps
The Financial Times reports Kremlin-backed A7 moved more than $6.9 billion through global banks by exploiting how Swift verifies senders, using front companies and fake invoices.
Why it matters
The reporting points at sanctions enforcement gaps inside the Swift network and at compliance controls at four large banks, none of which has publicly addressed the specific transactions. Only one outlet is covering the story, so how the banks and regulators respond is not yet visible.
Key facts
A7, a Russian fintech backed by the Kremlin, moved more than $6.9 billion through the international banking system despite sanctions on Russia.
6,900,000,000 USDReported by Crypto News (CryptoNews.net)
A7 exploited a structural weak point in how Swift verifies who is actually sending money.
Reported by Crypto News (CryptoNews.net)
A7 used front companies and a large-scale forgery operation producing counterfeit invoices to disguise payments.
Reported by Crypto News (CryptoNews.net)
Standard Chartered Hong Kong received $1.1 billion from A7-linked entities between late 2024 and August 2025.
1,100,000,000 USDReported by Crypto News (CryptoNews.net)
First Abu Dhabi Bank hosted accounts for 17 A7 entities that sent out more than $1.8 billion before the bank shut them down.
1,800,000,000 USDReported by Crypto News (CryptoNews.net)
A7 built its business after 2022 by promising Russian companies a way to move money across borders without using the traditional Swift network.
Reported by Crypto News (CryptoNews.net)
Standard Chartered, Citigroup, JPMorgan and Deutsche Bank said they take anti-money-laundering obligations seriously but declined to discuss specifics.
Reported by Crypto News (CryptoNews.net)
Crypto News attributes the findings to the Financial Times.
Reported by Crypto News (CryptoNews.net)
What happened
The Financial Times, as reported by Crypto News, says A7, a Russian fintech backed by the Kremlin, funnelled more than $6.9 billion through the international banking system by exploiting a structural weakness in how Swift verifies who is sending money. Crypto News says the company relied on front companies and an industrial-scale forgery operation producing counterfeit invoices to disguise payments. Standard Chartered Hong Kong received $1.1 billion from A7-linked entities between late 2024 and August 2025, and First Abu Dhabi Bank hosted accounts for 17 A7 entities that sent out more than $1.8 billion before shutting them down. Standard Chartered, Citigroup, JPMorgan and Deutsche Bank said they take anti-money-laundering obligations seriously but declined to discuss specifics. Only Crypto News carries this account, and its own account is attributed to the Financial Times, so the figures above are that outlet's reporting rather than independently confirmed findings.
How the story developed
- First report
First report by Crypto News (CryptoNews.net)
A7’s Swift sanctions evasion scheme moved $6.9 billion through global banks
- Update
A7 transfers reach Standard Chartered Hong Kong in the late-2024 to August 2025 window
Crypto News, citing the Financial Times, reports Standard Chartered Hong Kong received $1.1 billion from A7-linked entities between late 2024 and August 2025.
- Update
Crypto News publishes account of the A7 investigation
The outlet attributes its figures to the Financial Times and reports that Standard Chartered, Citigroup, JPMorgan and Deutsche Bank declined to discuss specifics.
Affected entities
Also mentioned: United Arab Emirates
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Crypto News (CryptoNews.net) Aggregator | A7’s Swift sanctions evasion scheme moved $6.9 billion through global banks | Original |
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