DOJ: Ukrainian-Russian Dual Citizen Pleads Guilty to Running International Money Laundering Organization for Cybercriminals

• U.S. Department of Justice states YMCO recruited over 15,000 U.S.-based money mules to launder at least $10 million stolen from over 750 U.S. bank accounts.
• U.S. Department of Justice notes four other YMCO members received sentences ranging from around 37 months to 63 months in prison and were ordered to pay over $9.1 million in restitution.

Oleg Korniev, a dual citizen of Ukraine and Russia, pleaded guilty to running Your Mule Cashout (YMCO), an international money laundering organization that laundered millions stolen from U.S. victims by cybercriminals. YMCO recruited over 15,000 U.S.-based money mules and laundered at least $10 million from more than 750 U.S. bank accounts.

Korniev admitted YMCO was responsible for over $14.7 million in actual and intended losses and intended to launder over $9.7 million, successfully laundering at least $7 million. He faces a minimum penalty of two years and a maximum penalty of 50 years in prison, with sentencing to be determined later.

• over $14.7 million actual and intended losses by confirmed victims
• over 15,000 U.S.-based money mules recruited
• at least $10 million money laundered from over 750 U.S. bank accounts

• Review transactions involving Your Mule Cashout (YMCO) and its online infrastructure for suspicious activity.
• Screen for patterns matching recruitment of over 15,000 U.S.-based money mules and laundering of at least $10 million from over 750 U.S. bank accounts.
• Update internal watchlists to include Oleg Korniev and four other YMCO conspirators who received sentences and were ordered to pay over $9.1 million in restitution.

This case highlights the scale and sophistication of international money laundering operations targeting U.S. victims, with YMCO recruiting thousands of money mules and laundering millions. Compliance officers must be vigilant for similar typologies, including deceptive recruitment and cross-border transfers, as these schemes exploit legitimate banking channels and technology. The involvement of multiple jurisdictions and large sums underscores the importance of robust AML/CFT controls, enhanced due diligence, and cooperation with law enforcement to detect and disrupt such networks.