Axel Humlesjö | 'Money Laundering Is The Biggest Societal Issue Facing Europe' - It's Honey Traps, Kompromat & The Cancer Of Offshore Finance All The Way Down...
Mar 24, 2025
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In this engaging discussion, Swedish journalist Axel Humlesjö reveals the staggering reality of money laundering in Europe, identifying it as the most pressing societal issue today. He digs into his work on the Swedbank scandal and the dark connections between organized crime and political corruption. Axel also sheds light on the psychological manipulation techniques, like honey traps, employed by Russian spies. He emphasizes the critical role of collaborative journalism and the evolving landscape of media in combating these shadowy financial operations.
Axel Humlesjö highlights that money laundering is the greatest challenge to democracy in Europe, impacting elections and governance significantly.
The podcast emphasizes the need for global collaboration in journalism to effectively investigate cross-border financial crimes and corruption.
Humlesjö explains how compromising material, or kompromat, is used by foreign intelligence to manipulate political figures, underscoring vulnerabilities in personal conduct.
Deep dives
Axel Humlachoy's Investigative Achievements
Axel Humlachoy is a Swedish journalist known for his groundbreaking work on money laundering and its implications for society. His investigations include exposing systemic money laundering at Swedbank, focusing on the bank's involvement in one of the largest money laundering scandals in history. This inquiry revealed that billions of dollars from corrupt practices in Ukraine were funneled through the bank, which ultimately linked high-profile figures such as Paul Manafort to international corruption. His approach underscores the significance of thorough, persistent investigative journalism that can alter the understanding of global financial systems.
The Role of Money in Politics
Humlachoy asserts that money laundering is not just a financial issue but a fundamental challenge to democracy in Europe. He describes how illicit financial flows can undermine political structures and facilitate outside influence, thus affecting elections and governance. By referencing incidents like the Brexit campaign and the 2016 U.S. presidential election, he highlights the alarming extent to which foreign interests can manipulate political landscapes through financial resources. This perspective shifts the narrative around money laundering from being seen as victimless to a serious threat to democratic institutions.
The Impact of Global Collaboration in Journalism
Humlachoy emphasizes the transformative shift in journalism towards global collaboration, particularly in tackling cross-border financial crimes. He notes that significant stories like the Panama Papers demonstrated that many journalists now share resources and information, enhancing the overall effectiveness of investigative efforts. This newfound collaboration allows journalists to connect dots across jurisdictions, leading to more comprehensive investigations and a greater public understanding of international corruption. It indicates a paradigm shift from individual competition to radical sharing in the journalistic community as a necessity in confronting globalized crime.
Understanding Compromat and Honey Traps
In discussing 'Compromat', Humlachoy reveals how compromising material is utilized by Russian intelligence agencies to exert influence over individuals in power. He explains that rather than direct threats, the mere existence of embarrassing information can compel someone to act in alignment with foreign interests, demonstrating how pervasive surveillance and psychological tactics can control political figures. The discussion includes real-world examples where ordinary interactions lead to complex webs of influence, showcasing how personal vulnerabilities can be exploited by state actors. This insight illustrates a profound intersection between personal behavior and high-stakes geopolitical maneuvering.
The Broader Implications of the Money Laundering Crisis
Humlachoy warns that the implications of money laundering extend beyond individual cases to threaten entire societal structures. He notes how illicit financial flows can devastate public services and erode trust in institutions, ultimately undermining the foundations of democratic society. As money laundering trends evolve, they spiral into an international issue where corrupt practices directly impact economic stability and power dynamics globally. This perspective calls for urgent reflection on the interconnected nature of financial systems and the ethical responsibilities of those engaged in them, urging a collective acknowledgment of the threat posed by dirty money.
Axel Humlesjö is a Swedish journalist against which money laundering, the plumbing of offshore finance and the cancerous nature of dark money, continuously crash up against.
Axel was a part of the team that uncovered systematic money laundering activities with Swedbank in the Baltics. Part of the team behind the series - The Shadow War - which exposed Russian espionage activities in the Nordics and led to the expulsion of five Russian spies from Sweden. Many other stories as well, but of course co-author of his debut book, The Honey Trap which explores Swedbank's involvement in one of the world's largest money laundering scandals and details this extensive operation for how the Russian security service uses sparrows and other means to honey trap and acquire kompromat on a broad slew of people. Honey traps were used directly to illicit compromising material to infiltrate Swedbank.
This podcast goes into Axel’s views on the evolution of journalism in a globalised world, and the significant role that money plays in shaping political landscapes. He goes as far to say it is the single biggest societal issue facing Europe and how intertwined money laundering is with currying foreign influence.
This was recorded in person in Stockholm with Axel last December, it was the last interview I recorded before I left the country.
00:00 - Axel Humlesjö 01:30 - Journalism in a Globalised World 06:23 - The Impact of Money Laundering on Democracy 13:28 - The Influence of Russian Oligarchs 15:48 - The Structural Damage of Under Money 25:38 - The Iceberg of Financial Corruption 41:53 - The Impact of Money Laundering on Society 48:58 - The Kompromat Strategy: Honey Traps and Coercion 01:07:01 - The Future of Investigative Journalism
🍻☕: https://www.buymeacoffee.com/ryanhogg Follow me on Instagram – @ryanfhogg
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