US designates Ilan Shor's network as criminal: $179bn passed through its system

US designates Ilan Shor's network as criminal: $179bn passed through its system
US designates Ilan Shor's network as criminal: $179bn passed through its system

On 1 October 2026, the US Department of the Treasury officially designated the A7 financial network as a transnational criminal organisation. According to US regulators, this structure, linked to Ilan Shor, became an instrument for circumventing sanctions. Between February 2025 and June 2026, at least $179.1bn was processed through the ruble stablecoin A7A5. These funds passed through more than 180 legal entities.

Scale of operations and geographic presence

Sub-agents of the A7 network held accounts at approximately 435 financial institutions located in 83 countries worldwide. The US Treasury specifically named the Islamic Revolutionary Guard Corps and Hamas among those who utilised this infrastructure. Ilan Shor himself, who at the time served as A7's chief executive officer, gave an interview to Kommersant in June 2026, where he discussed the launch of the A7A5 payment instrument.

Return to the 2014 events in Moldova

Ilan Shor was 27 years old at the time. He headed the board of Banca de Economii, the country's largest savings bank. Between 24 and 26 November 2014, over $750m was withdrawn from three Moldovan banks, with the total amount of missing funds reaching $1bn. This represented approximately 12% of the state's gross domestic product. On 27 November of that year, a van belonging to a company owned by Shor was transporting 12 bags of bank documents. This vehicle was stolen and set on fire.

Court proceedings and escape

Subsequent events unfolded according to a typical scenario. In 2017, the court handed down a sentence: seven and a half years of imprisonment, with house arrest imposed during the appeal period. In 2019, Shor left for Israel. In 2023, he was sentenced in absentia to 15 years in prison. Despite the existence of a valid verdict, the individual remains at large.

Regulatory response and future restrictions

By 4 November, the FinCEN service is collecting comments on a new rule that provides for the disconnection of A7 sub-agents from US banking systems. The coming month will show how many of the 435 financial institutions will close accounts voluntarily before the official ban takes effect.

The situation demonstrates a paradox: the individual who did not face punishment for siphoning $1bn in 2014 is not considered a failure by anyone. On the contrary, his experience, documented in court records, is perceived as professional qualification, allowing him to receive new assignments, including from states that need to circumvent international sanctions.

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