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.

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

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

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

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

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

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

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

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

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

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

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

• Geoff's approach to managing personal cyber risk.
• The importance of...