Money Laundering

Organized crime is often imagined as something violent, chaotic, and obvious. But today, it looks far more polished than that. It operates like a multinational business, spread across borders, built on trust networks, specialization, and efficiency rather than brute force. This episode looks at how modern scams, fraud, and money laundering actually work and why they're so hard to spot before serious damage is done.

My guest is Geoff White, an investigative journalist who has spent decades covering organized crime, cybercrime, and financial fraud. His reporting has appeared on BBC News, Sky News, The Sunday Times, and other major outlets, and he is also the creator of The Lazarus Heist, the hit podcast and book series exploring North Korea's global hacking operations. His latest book, Rinsed, examines how technology has transformed the world of money laundering.

We talk about how modern criminal networks are structured, why scams now rely on patience and psychology rather than speed, and how money laundering functions as a service industry that quietly supports fraud at scale. The conversation also explores why victims are sometimes unknowingly used to move stolen funds, how urgency is weaponized to override judgment, and why slowing down remains one of the most effective defenses people have.

Show Notes:

• [01:08] Geoff shares his background and why the organized crime + technology overlap is where he's spent his career.
• [02:52] Why longer-form work (books, podcasts) is often the only way to explain complex crimes that don't fit into a quick news segment.
• [03:56] Old-school enforcement was violence; modern crime groups often can't use that when partners are anonymous and overseas.
• [04:23] The trust networks holding global crime together can be more fragile than people assume.
• [05:06] The strange "trust inside crime" dynamic especially in ransomware, where criminals must appear "reliable."
• [06:18] Competition today looks more like corporate rivalry than street violence, especially in ransomware affiliate ecosystems.
• [07:41] Do these groups evolve from traditional cartels or arise from new tech-native criminals? Geoff says it depends on the region.
• [09:58] The skill split of elite coders builds ransomware, while newer recruits use social engineering to get initial access.
• [11:34] Money laundering adapts fast with crypto, game currencies, NFTs while the core "service business" model stays the same.
• [12:46] The "cost" of laundering: fees can be extreme for newcomers, and lower for experienced players with connections.
• [13:53] A disturbing case where victims are daisy-chained to launder money and reinforce the romance-scam illusion.
• [15:12] Why money mules are treated as disposable and how many don't realize the seriousness until law enforcement shows up.
• [16:48] The tactic of letting victims withdraw a little money to make a platform feel legitimate and why it works so well.
• [18:09] Geoff connects today's tactics to classic con mechanics ("putting the mark on the send") and the psychology behind it.
• [19:22] Geoff describes seeing an "escalator scam" firsthand: small payouts early, then pressure to pay to "unlock" higher earnings.
• [21:51] The scary shift is that scams now look polished and patient, stretching across multiple channels and weeks (or longer).
• [23:12] The more we "self-custody" money and identity online, the more security responsibility shifts onto individuals.
• [24:32] A major crypto seizure case raises a messy question when seized assets grow in value, who gets the upside?
• [28:46] Geoff's practical defense: slow down on anything money-related, create space, and don't let urgency steer decisions.
• [31:17] Why today's scammers play the long game of months of relationship-building can lead to life-changing losses.
• [34:29] Repeat victimization: recovery scams and fake "investigators" often target people right after they've been hit.
• [36:08] "Traceable" doesn't mean "recoverable," why freezing and returning stolen crypto is legally and logistically hard.
• [38:44] UK reimbursement changes shift liability between sending and receiving banks but there are tradeoffs and open questions.
• [41:28] Geoff reacts to US payment quirks (card taken away, tip written in pen) and why it still surprises outsiders.
• [45:11] Closing advice is to learn from other people's stories and run "what would I do?" scenarios before a crisis hits.

Thanks for joining us on Easy Prey. Be sure to subscribe to our podcast on iTunes and leave a nice review.

Links and Resources:

• Podcast Web Page
• Facebook Page
• whatismyipaddress.com
• Easy Prey on Instagram
• Easy Prey on Twitter
• Easy Prey on LinkedIn
• Easy Prey on YouTube
• Easy Prey on Pinterest
• Geoff White
• Geoff White - LinkedIn
• Geoff White - Instagram
• Rinsed: From Cartels to Crypto: How the Tech Industry Washes Money for the World's Deadliest Crooks
• The Lazarus Heist
• Crime Dot Com: From Viruses to Vote Rigging, How Hacking Went Global