Claim OwnershipFinancial Crime Weekly Podcast
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Welcome to the Financial Crime UK Weekly podcast. I’m Chris Kirkbride and I lecture law.
This is an introductory podcast to give you a guide as to the sort of things which we will be looking at on this podcast in the first week of every month. However, there will be specials and additional podcasts out of this sequence if something happens which is significant and deserves a special episode.
So, what are the sort of things we’ll be talking about? Well, we will cover news, events, legal developments, and anything else that relates to financial crime, in the UK – obviously, because that is in the podcast title – but also in other jurisdictions. No man is an island and financial crime certainly does not respect national borders.
Broadly, the coverage will be all aspects of:
Fraud | Bribery | Market abuse and insider dealing | Money laundering and terrorist financing | Data and information theft | Cybercrime (phishing / smishing) and the challenges generated by fintech in terms of finance crime threats.
While these might be financial crimes, strictly speaking, but that is not all. It is necessary to reflect on the responses to financial crime which the state adopts. While this is less about fines and imprisonment, we will focus on confiscation and recovery schemes, sanctions imposed on those who have committed financial crimes, together with arrangements designed to allow the offender to avoid/defer prosecution, namely, deferred prosecution agreements.
Consideration will also be given to the regulatory architecture of financial crime, both domestic and international – as stated, financial crime does not respect borders – together with regulatory enforcement and aspects of the compliance industry – the industry which helps commercial entities stay on the right side of the law.
Finally, and this is a particular interest of mine, but I am fascinated by the interface between criminal and civil law where the facts of an event could lead to prosecution or civil action. Consequently, while this is a financial crime podcast, we will also consider those situations where the civil law might bring about a robust response to financial wrongdoing.
So, that’s it from me for now except to say that the podcast is available from the usual places, Google Podcasts, Spotify, iTunes, and others.
201 Episodes
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Hello, and welcome to episode 187 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, geopolitical pressure intensifies as the EU proposes its 19th sanctions package against Russia, featuring a full transaction ban on Russian banks and targeting LNG imports by 2027 to cripple the war economy. Meanwhile, in the United States, FinCEN has proposed delaying the critical Investment Adviser AML Rule until January 2028, granting firms additional time to prepare for compliance aimed at closing vulnerabilities exploited by illicit actors funnelling dirty money into US assets. We also examine high-stakes global enforcement, including the $750,000 fine levied against ShapeShift AG by OFAC for sanctions violations involving digital assets related to countries like Cuba, Iran, Sudan, and Syria, and global successes like Eurojust cracking a sophisticated €100 million cryptocurrency investment fraud spanning 23 countries. Finally, we explore the growing role of technology, from the UK’s new AI fraud-buster which recovered a record nearly £500 million in fraudulently claimed public funds, to mounting concerns raised by experts about how complex AI algorithms in high-frequency trading may contribute to market manipulation.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.
Hello, and welcome to episode 186 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, on sanctions, we look at action by the EU against Israel. The UK has reaffirmed financial sanctions against Chinese drone manufacturer Autel Robotics, and issued an advisory warning UK firms about using North Korean IT workers. On the regulatory and digital asset front, the Financial Conduct Authority outlined its strategy for combating financial crime, proposing new rules for crypto firms to enhance systems, controls, and operational resilience, and in Canada, the RCMP has announced the execution of the largest cryptocurrency seizure in its history. On fraud, we look at property fraud in England and Wales, and on cybercrime, we discuss the significant threat to critical infrastructure, and a survey revealing that cyber attacks, often traced to Russia and China, have cost the German economy nearly €300 billion over the past year.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.
Hello, and welcome to episode 185 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, on sanctions, the US Treasury's imposition of sanctions on Sudanese Islamist figures over Iran ties and a global network funding Iran's military and terrorist activities. We look at a $100 million pump-and-dump fraud scheme where Chinese tech executives allegedly defrauded US investors. On the cybercrime front, we cover the data breach at luxury group Kering, owner of Gucci, and the crippling cyberattack on Jaguar Land Rover, which has compromised sensitive data, disrupted production, and is estimated to have cost £1 billion in lost production. Furthermore, we'll look at the commentary from the Royal United Services Institute arguing that the global anti-financial crime system is "fundamentally broken," despite over $200 billion spent annually on compliance, urging systemic reform and real-time data sharing. Finally, we'll touch on the UK’s significant increase in asset recovery, the National Crime Agency taking the helm of the Five Eyes Law Enforcement Group amid rising global threats, efforts to promote integrity in education in Moldova, and a warning from the Information Commissioner's Office about a surge in cyber attacks within UK schools, often caused by students themselves.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.
Hello, and welcome to episode 184 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, on sanctions news, OFSI has set a deadline for reporting frozen assets, delisted Ilya Brodskiy, and imposed new designations under the Russia Sanctions Regime, while the US Treasury executed its largest-ever sanctions action against the Houthi networks. We also look at the jailing of a London fraudster for misusing the Covid Bounce Back Loan scheme, MONEYVAL's new evaluation of Hungary's anti-money laundering framework, and a study highlighting whistleblowers' critical role in uncovering Ukrainian corruption. Furthermore, the podcast addresses the Financial Conduct Authority's (FCA) crackdown on "finfluencers" for illegal promotions, the FCA's call for a united front against financial crime, the UK's record return of nearly £50 million to crime victims, and the government's intensified fight against cybercrime and fraud.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.
Hello, and welcome to episode 183 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, we look at the US Treasury's actions against Palestinian NGOs and Southeast Asian cyber scam networks, alongside Vanquis Bank's censure for delayed counter-terrorism sanctions enforcement in the UK. International efforts to combat money laundering are examined through a joint handbook launched by FATF, INTERPOL, UNODC, and the Egmont Group, alongside investigations into Roman Abramovich. We look at the surge in US money mule cases and stablecoin abuse, new FinCEN guidance on cross-border information sharing, and the FCA's warnings about market abuse risks in corporate finance firms. Finally, we look at FinCEN's congressional scrutiny regarding surveillance and cartel crackdowns, the SFO's successful use of an Unexplained Wealth Order, and Transparency International UK's blueprint for ending offshore financial secrecy.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.
Hello, and welcome to episode 182 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, OFAC settled a penalty with Fracht FWO Inc. for violations involving Venezuela and Iran, sanctioned a Chinese chemical firm and executives for trafficking synthetic opioids, and designated Palestinian human rights organizations over alleged targeting of Israel by the ICC. OFAC also reclassified Ecuadorian criminal groups as transnational terrorist organisations. Internationally, Australia imposed sanctions on Russian officials for civil society repression and Navalny's death, while the UK revoked a licence allowing Evraz North America to operate under sanctions and sanctioned Russian actors involved in the forced deportation of Ukrainian children. The UK government also launched a sanctions survey to inform future policy. On the money laundering front, the Financial Action Task Force warned countries to crack down on shell companies, and OSCE enhanced Turkmenistan's capacity to combat money laundering and terrorism financing. For bribery and corruption, GRECO urged Slovakia to accelerate anti-corruption reforms. Other financial crime topics included an IMF warning about tech-savvy criminals outpacing regulators and a proposed privacy-preserving compliance framework for stablecoins. Finally, cybercrime saw a major cyberattack halt Jaguar Land Rover production in the UK.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.
Hello, and welcome to episode 181 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, we look at US Treasury's action against an Iraqi-led network for smuggling Iranian oil disguised as Iraqi crude, and the UK and EU's decision to slash the Russian oil price cap to $47.60. In money laundering, updates on HM Treasury's approval of JMLSG guidance, FATF's new National Risk Assessment toolkit to help nations identify threats, and the Wolfsberg Group's latest framework for monitoring suspicious activity. Fraud saw major moves with a new U.S. Trade Fraud Task Force from the DOJ and DHS, and the UK enacting a landmark corporate offence for failure to prevent fraud. We'll look at Portugal's progress and areas for deeper reform in anti-corruption as noted by GRECO, insider trading convictions and repayments from the West brothers, and the SFO's review of rate-rigging convictions following a Supreme Court ruling. Finally, in cybercrime, we'll look at the statewide government shutdown in Nevada due to a ransomware attack, the alarming misuse of Anthropic AI by hackers in espionage and extortion schemes, a massive data breach fine for SK Telecom, and a new ISO/IEC standard targeting AI-driven morphing attacks in biometric ID fraud.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.
Hello, and welcome to episode 180 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, we bring you up to speed on the latest developments in financial crime, starting with major sanctions updates from the US and UK. We cover the indictment of Haitian gang leader 'Barbecue' for US sanctions violations, and significant US Treasury actions against Mexican cartels involved in timeshare fraud, drug trafficking, and agricultural extortion. We also delve into the sanctions against Garantex and Grinex for enabling cybercrime and sanctions evasion, the US Treasury's temporary authorisation for the US-Russia Alaska summit, and the UK OFSI's recent amendment concerning irregular migration. In money laundering news, we explore an innovative BIS proposal leveraging blockchain transparency for enhanced crypto anti-money laundering compliance, particularly relevant for stablecoins. We also examine a new report exposing deep-rooted corruption in the global arms trade and the City of London Police's use of an INTERPOL Silver Notice to pursue a fugitive fraudster's assets. This and much more in this week's episode.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.
Hello, and welcome to episode 179 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, we delve into developments across the globe, starting with US sanctions targeting Iranian networks for financial evasion and domestic repression, entities involved in violence and illegal mining in Eastern Congo, and the ongoing saga of a seized Russian superyacht. We also cover legislative efforts in the US to combat money laundering in the art market through the proposed Art Market Integrity Act, and explore how the European Banking Authority is leveraging SupTech to strengthen anti-money laundering supervision. Additionally, we examine Germany's shortcomings in implementing anti-corruption measures, a landmark corporate prosecution by HMRC under tax evasion laws, and critical updates on cybersecurity challenges, including enhanced measures by the US Judiciary and concerns over the UK's outdated training system.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.
Hello, and welcome to episode 178 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, we look at actions by OFAC targeting a narco-terrorist network and expanding sanctions against a cartel, including a "narco-rapper," alongside an OFSI license extension for payments to sanctioned banks. We also address money laundering failures by Paxos, Poland's limited progress in anti-corruption efforts, and a whistleblower's revelations about UK government-sanctioned bribery in arms deals. Furthermore, the episode outlines fraud cases, including confiscation orders against investment fraudsters in the UK, a guilty plea in a New Zealand Ponzi scheme, and a FinCEN summit aimed at tackling fraud in the digital assets ecosystem.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.
Hello, and welcome to episode 177 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, we look at recent sanctions targeting Iran's UAV network and clarification of UK trade and Russian sanctions guidance. On money laundering, we look at AUSTRAC's AML/CTF overhaul in Australia, setting compliance deadlines for both existing and newly regulated entities, and on bribery and corruption, GRECO has assessments of anti-corruption efforts in Spain and Romania, and there is a Pacific mentoring initiative in the Solomon Islands. On fraud, we look at its evolution with AI-driven tactics, and consider recent FCA action for market abuse and mismanagement. Finally, in other financial crime news, a new report from Italy highlights the economic benefits of combating organised crime, and we end this episode looking at the continuing impact of a cyber-attack on the UK's legal aid sector.A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.
Hello, and welcome to episode 176 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. In this episode, we look at developments in sanctions enforcement, including the US imposing sanctions on a Brazilian Supreme Court Justice, a vast Iranian shipping network, and Palestinian officials, alongside the UK Supreme Court upholding sanctions on British billionaire Eugene Shvidler. We also cover a substantial £300,000 penalty for a breach of UK Russia sanctions and recent amendments to the UK's Consolidated List. On the domestic front, the UK government has updated guidance on money laundering exemptions under the Proceeds of Crime Act 2002. Fraud remains a prominent issue, with a massive alleged $500 million COVID-19 testing scheme in the US exposed and alleged internet fraudsters targeted in Nigeria. Furthermore, South Korea has launched a new Joint Response Team to combat stock market manipulation. Lastly, we'll unpack the UK's National Economic Crime Centre (NECC) 2024-2025 Annual Report, highlighting the persistent challenge of fraud—the most reported crime in England and Wales—and money laundering, while detailing the NECC's intelligence-led operations, public-private partnerships, and future focus on disrupting economic crime.A transcript of this podcast, with links to the stories, will be available by Monday at www.crimes.financial.
Hello, and welcome to episode 175 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. In this episode, we look at sanctions, anti-money laundering, and regulatory enforcement. Highlights include major US sanctions against Venezuela’s Cartel de los Soles for narco-terrorist activities, Ukraine’s alignment with EU sanction packages targeting Russian industry, and the EU’s renewal of its terrorism blacklist. The episode also explores increasing concerns around money laundering risks amid digital innovation, updates on enforcement actions from regulators across multiple jurisdictions, and key judicial decisions impacting the financial sector. A transcript of this podcast, with links to the stories, will be available on Thursday at www.crimes.financial.
Hello, and welcome to episode 174 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. In this episode, we look at US Treasury sanctions against a Houthi petroleum smuggling network and a clandestine North Korean IT worker network funding missile programmes. The UK’s OFSI warned of rising sanctions evasion in the crypto sector, noting under-reporting and exposure to designated Russian, North Korean, and Iranian entities, while HM Treasury consults on streamlining civil sanctions enforcement. On money laundering, the EU’s Cash Controls Regulation (EU) 2018/1672 was assessed as an efficient instrument against cross-border financial crime despite some challenges, and the Wolfsberg Group reaffirmed its commitment to a risk-based approach, emphasising proportionality and effectiveness. In bribery and corruption, a new UK-India trade deal includes comprehensive measures to combat bribery and promote transparency. For fraud, the SFO Director signalled a new era of aggressive corporate enforcement, leveraging new powers and technology for faster casework. Finally, the UK Government announced key research priorities to strengthen the fight against economic crime, and a major cybercrime forum administrator was arrested in Ukraine.A transcript of this podcast, with links to the stories, will be available by Monday at www.crimes.financial.
Hello, and welcome to episode 173 of the Financial Crime Weekly Podcast – midweek edition – I’m Chris Kirkbride. In this episode, we outline significant global efforts to combat financial crime, particularly focusing on sanctions against Russia and new measures targeting money laundering and people-smuggling networks. The European Union has implemented its 18th sanctions package against Russia, substantially lowering the crude oil price cap and targeting energy, banking, and military sectors, with the UK also announcing new sanctions on Russia's "shadow fleet". Additionally, the UK has launched a pioneering sanctions regime to disrupt international people-smuggling operations and is reforming Money Laundering Regulations based on public consultation. Finally, the UK's Serious Fraud Office (SFO) successfully froze cryptocurrency assets for the first time, while the National Crime Agency (NCA) and Financial Conduct Authority (FCA) established unified priorities to strengthen the public-private response to economic crime.A transcript of this podcast, with links to the stories, will be available later on Thursday at www.crimes.financial.
Hello, and welcome to episode 172 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. In this episode, we unpack a sweeping set of global enforcement actions and policy updates—from Interactive Brokers' $11.8 million sanctions settlement in the U.S. to OFAC's crackdown on Venezuela’s Tren de Aragua criminal network. We explore the EU’s sanctions against Russian hybrid threats and the UK's overhaul of its money laundering laws, including a revised criminal property threshold and its updated National Risk Assessment. Bribery and political influence come under scrutiny with new legislation targeting presidential library donations and concerns over cryptocurrency in UK political funding. Plus, we highlight HMRC’s £3.9 billion fraud recovery success, a strategic revamp at the UK Insolvency Service, and major reforms to the Senior Managers regime. The episode closes with updates on cybercrime—including the Co-op’s data breach and the launch of the NCSC’s vulnerability research initiative—rounding out a busy week in the world of financial integrity and corporate accountability.A transcript of this podcast, with links to the stories, will be available by Monday at www.crimes.financial.
Hello, and welcome to episode 171 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This episode looks at the FCA’s £42 million penalty against Barclays for critical compliance failures, exposes the growing exploitation of UK youth in laundering schemes, and explores mounting international tensions around sanctions—highlighting controversial moves against Palestinian legal advocates and a unified crackdown on ISIS operatives in Africa. We also track cybersecurity crises, crypto clashes in Congress, enforcement efforts in Singapore, and reform of digital assets in the UK.A transcript of this podcast, with links to the stories, will be available on Thursday at www.crimes.financial.
Hello, and welcome to episode 170 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This episode unpacks a wide range of developments—from targeted sanctions and regulatory refinements to emerging threats driven by AI and deepfake technologies. Highlights include UK and US moves against sanctioned individuals and groups, new OFSI guidance on debt payments and domicile, and evolving shadow banking tactics linked to Iran. The episode also explores FATF’s warnings on terrorist financing, the FCA’s updated PEP guidance, OECD’s integrity reports across Eastern Europe and South Africa, and regional efforts to bolster anti-corruption and AML capacity. With cyber-enabled fraud and AI-driven evasion pushing global enforcement systems to the brink, it’s a critical moment for compliance professionals and policymakers alike.A transcript of this podcast, with links to the stories, will be available by Monday at www.crimes.financial.
Hello, and welcome to episode 169 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This episode covers a global sweep of the latest enforcement actions and regulatory developments, from US sanctions targeting Hizballah’s financial infrastructure and North Korean cyber operatives, to the UK’s record-breaking penalties for Russia sanctions breaches and a major money laundering fine in Singapore. The episode also highlights developments in cybercrime, bribery, and market abuse—featuring convictions, policy shifts, and international cooperation efforts that underscore the evolving landscape of financial crime compliance.A transcript of this podcast, with links to the stories, will be available on Thursday at www.crimes.financial.
Hello, and welcome to episode 168 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This episode explores a sweeping range of global enforcement actions and regulatory developments. Highlights include OFAC’s fine against a US firm over Cuba sanctions breaches, and the exposure of sprawling oil smuggling and shadow fleet networks aiding Iran and Russia. The UK’s National Crime Agency and OFSI issue fresh guidance to counter evasive maritime tactics, while AML efforts gain momentum through a new cooperation pact between AMLA and the European Central Bank. We also cover evolving arms embargoes, offshore ownership transparency, political finance reform, and education-sector fraud guidance in the UK. Rounding out the episode: anti-corruption training in Uzbekistan, the NACC’s mixed record in Australia, and renewed UK–ASEAN efforts to tackle transnational scams.A transcript of this podcast, with links to the stories, will be available by Monday at www.crimes.financial.
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