The Dark Money Files

The Dark Money Files

A series of podcasts which explain to a non-technical audience how "Dark Money" (e.g. money laundering, corruption, bribery, tax evasion) enters the financial system and infects everything it touches.

Episodes

January 25, 2023 20 min

In this episode we work through three of the smaller regulatory actions from last year which nevertheless contain nuggets of gold, successfully panned by Ray.

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In something of a departure from our normal content, we review the passage of the Economic Crime and Corporate Reform Bill through the UK parliamentary system and use the opportunity to explain in more detail just how the scrutiny and passing of legislation works in practice.

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December 3, 2022 21 min

In this episode we weave together crypto, courts and controversy when Sam Bankman Fried meets the Court of Justice of the European Union and a millionaire underwear Baroness. 

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November 21, 2022 18 min

It’s been a little while so we thought we’d do a bit of a catch up on some recent publications from Wolfsberg, the FATF and the Finnish FSA.

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In our final part of our look at fraud, we explain, in general terms, current approaches to how best to compensate the victims and deny the fraudsters (as well as explaining briefly, why the gap since the last episode).

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August 22, 2022 15 min

We interrupt our suite of podcasts on fraud to bring you a special episode relating to the human cost of fake company incorporations.

Working with various different media outlets, we’ve helped bring to light some of the stories relating to people who unwittingly fall foul of fake company incorporators.

Listen, for example, to this recent episode of BBCs You and Yours:

https://www.bbc.co.uk/programmes/m0019z2g

 

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In this second part of our series on fraud we delve into some of the different types of fraud.

We proffer some “mildly salacious” examples, along with others which are rather more serious.

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June 25, 2022 15 min

In this pun laden episode, we start to delve into the world of fraud. More to follow…

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The UK regulator, in common with most regulators around the world, is keen to understand the role that synthetic data might play, alongside Artificial Intelligence and Machine Learning.

It has made a call for input which closes on 22 June. 

In this episode we review the current state of play, the uses for synthetic data and why contributing to this call is so important.

Link to the call: https://www.fca.org.uk/publication/call-for-inp...

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In this episode we tackle the thorny issue of tax avoidance, aggressive tax avoidance and tax evasion. We also take a closer look at one of the schemes which falls somewhere on that spectrum: mini-umbrella companies.

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In this episode we look at all things digital and how it is changing the landscape of authentication whilst making KYC more dynamic.

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March 15, 2022 21 min

To conclude this trilogy of podcasts looking at the world from the money launderers point of view, Ray and Graham take a deep dive into trade-based money laundering and trade finance.

They revisit the research conducted by John Zdanowicz – copy of the report referred to can be found here.

$5000 tweezers and enriched uranium at $15/kg make for a lively episode! 

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March 3, 2022 15 min

In this second part of Graham & Ray’s trip to the dark side, and with almost prescient timing, they explain how to set up a global money laundering machine.

Please don’t try this at home.

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February 15, 2022 19 min

Having spent three years and 93 episodes reporting from the side of the great and the good, Ray and Graham move the focus to the view from the dark side.

And it sounds like they had an inordinate amount of fun doing so!

Two more parts to follow!

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We bring this trilogy of episodes around transaction monitoring failures to an end with a final review of the NatWest case and a comparison with the recent fine levied against HSBC.

What’s that got to do with a King, his cleaner and a thirsty aspidistra? You’ll need to listen to find out!

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In this episode we bring you the second part of our deep dive into the criminal prosecution of NatWest through the lens of the Statement of Facts which accompanied the guilty verdict.

This time, amongst other things, we cover smelly banknotes and bin bags full of cash.

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In this episode we bring you part one of a deep dive into the criminal prosecution of NatWest 
through the lens of the Statement of Facts which accompanied the guilty verdict.

No matter where you are in the world, given the ubiquity of AML regulations, this will be relevant to you and your organisation.

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December 26, 2021 15 min

In this episode we want to move away from always being suspicious and look at the other side of the coin. Can we use green flags to help identify suspicious behaviour from a very different angle?

And do we need to be cautious in our use of whitelists?

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December 8, 2021 20 min

In this episode we enthusiastically review the new advanced search function recently launched on the Companies House website. We also make a heartfelt plea for other corporate registers to look and learn from the huge potential gains in proactively managing corporate financial crime risk that it facilitates.

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December 4, 2021 21 min

In this episode we look at how the FCA’s REP-CRIM report can assist firms in assessing the effectiveness of their AML controls through both trend analysis and benchmarking against their peers.  And we explain how  trend analysis such as this can benefit all financial institutions wherever they do business. 

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