The Human Risk Podcast8 Kesä 2024

Geoff White on Rinsed - Money Laundering in a Digital World

How is technology impacting money laundering? On this episode, I'm welcoming investigative journalist Geoff White back onto the show.

In 2022, Geoff joined me to talk about his book and podcast The Lazarus Heist, the story of how North Korean hackers launched an attack on Sony Pictures in 2014.

This time, he's back to talk about his brand new book 'Rinsed' which looks at money laundering in a digital world.

In it, Geoff explores how thieves who steal digital money that’s highly traceable, launder it so that they can make use of it?

In a wide-ranging disucssion, we also talk about Geoff’s work as an investigative reporter — how does he get his information, what are the risks in doing what he does and you’ll hear the astonishing reasons why people you might not expect would want to talk to him, actually do.

Links
Hear Geoff's previous appearance on the show talking aboiut The Lazarus Heist:
https://www.humanriskpodcast.com/geoff-white-on-the-lazarus-heist/

His BBC World podcast of the same name - https://www.bbc.co.uk/programmes/w13xtvg9/episodes/downloads

Learn more about his new book 'Rinsed' - https://www.penguin.co.uk/books/455031/rinsed-by-white-geoff/9780241624838

Geoff's website - https://geoffwhite.tech/

Timestamped Notes (generateed by AI)

[00:00:00] - Introduction

Christian welcomes Geoff White back to the podcast.
Geoff's new book "Rinsed" and updates since his last appearance.

[00:01:00] - North Korea's Cyber Activities

Discussion on North Korea's cyber operations and the Axie Infinity hack.
The scale and speed of the $625 million cryptocurrency theft.

[00:02:00] - Money Laundering Techniques

The importance of money laundering in cybercrime.
How hackers collaborate with financial experts to launder money.

[00:03:00] - Evolution of Money Laundering

The shift from traditional cash-based laundering to digital methods.
Examples of how different criminal groups use technology to launder money.

[00:04:00] - Money Laundering as a Service

The concept of "Money Laundering as a Service."
Comparison with "Hacking as a Service."

[00:05:00] - Classic Money Laundering Stages

Explanation of the three stages: placement, layering, and integration.
Historical context with examples from the 1980s.

[00:09:00] - Digital Era of Money Laundering

Challenges of tracing digital money.
The global nature of digital money laundering and its implications.

[00:10:00] - International and Technological Aspects

How criminals use technology to launder money across borders.
The role of cryptocurrency in modern money laundering.

[00:13:00] - Role of Financial Institutions

The involvement of traditional financial institutions in money laundering.
How compliance teams can combat these activities.

[00:14:00] - Investigating Money Laundering

Geoff's research methods and challenges in uncovering these stories.
The importance of firsthand accounts and digital breadcrumbs.

[00:17:00] - Notable Cases

Key cases from Geoff's book, including the Axie Infinity hack and others.
The significance of technology in these crimes.

[00:20:00] - Interaction with Law Enforcement

Experiences with law enforcement agencies during investigations.
The case of the Instagram influencer Hushpuppi.

[00:23:00] - Personal Safety and Cyber Risk

Geoff's approach to managing personal cyber risk.
The importance of separating public and private online personas.

[00:26:00] - The WannaCry Ransomware Attack

Challenges in tracing ransomware payments.
A specific investigation into the WannaCry attack.

[00:28:00] - Future of Cyber Risk

Geoff's views on the future of cyber risk and AI.
The potential for AI to assist both criminals and investigators.

[00:34:00] - Regulation and Technology

The need for proactive regulation in tech and finance.
Challenges faced by regulators in keeping up with rapid technological advancements.

[00:40:00] - Title and Cover of the Book

The process behind choosing the book's title, "Rinsed."
Importance of a compelling cover and subtitle.

[00:42:00] - Continuous Learning in Cybercrime

The evolving nature of cybercrime stories.
The impact of new developments on the book's content.

[00:46:00] - Tech Enablers and Libertarian Views

Common traits among tech enablers in money laundering.
The vision of a new world driven by innovative financial technologies.

[00:51:00] - Advice for Regulators

Geoff's perspective on how regulators can keep pace with technological change.
The balance between enabling innovation and preventing crime.

[00:55:00] - Conclusion

Geoff's final thoughts and a reminder about his book "Rinsed."
Encouragement to support local bookstores through Bookshop.org.

Tämä jakso on lisätty Podme-palveluun avoimen RSS-syötteen kautta eikä se ole Podmen omaa tuotantoa. Siksi jakso saattaa sisältää mainontaa.

Jaksot(368)

Stefan Gaillard on the importance of Trial & Error

Why is it so hard for us to admit mistakes? That's what my guest Stefan Gaillard & I explore in this episode. Stefan is the Editor of The Journal of Trial & Error, a project that seeks to promote the...

18 Marras 20201h 1min

Stuart Tootal & Greg Davies on the lessons for business from military decision-making

What can the military teach business? Much as companies often talk about 'wars' (most obviously when it comes to talent) and 'battles' (usually for market share), it's not obvious that the two have mu...

14 Marras 202055min

John Sutherland on mitigating Board Level Human Risk

If you were looking for a sector that had lots of examples of Human Risk, then you'd probably pick banking? And if you were trying to understand why some of the senior people within banking hadn't be...

7 Marras 202058min

Luca Dellanna on Ergodicity: why the way we often view the world, can lead to bad decisions

What is ergodicity? If it's a new term to you, then listen to my guest Luca Dellanna explain why ergodic thinking is often at the heart of much of our flawed decision-making. This is Luca's second ap...

29 Loka 20201h 1min

Leanne Spencer on Wellbeing: why it matters & how we can improve it.

We often think of our body and our mind as being somehow distinct, yet there is a strong linkage between mental health and physical wellbeing. That's what I explore with my guest Leanne Spencer on th...

27 Loka 202045min

Multi-million selling Singer Songwriter Dr Glenn Medeiros on Human Risk in the Music Industry

On this episode, I'm exploring an industry whose product we all sample daily, but probably don't fully understand: music. In the late 1980s and early 1990s, my guest, Dr Glenn Medeiros, was a global ...

22 Loka 20201h

Professor Don Moore on Confidence and how it impacts our decision-making

We all understand the idea of Confidence and that having it can help us succeed. Equally, not having it can also paralyse us into inaction. So what is the optimal level of confidence?That's what my ...

15 Loka 202051min

Dr Thomas Roulet on Negative Social Evaluations: the science behind the ways we judge each other

We all instinctively know the impact negative reviews have on individuals and organizations; whether TripAdvisor ratings or publicly administered regulatory sanctions. It's not good. Yet there are ma...

8 Loka 202057min