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The Money
High-tech laundering - how crims use technology to make dirty money clean
Jun 20, 2024
Investigative journalist Geoff White delves into how criminals launder dirty money using techniques like cash businesses, casinos, properties, cryptocurrencies, and the dark web. The podcast discusses cases of using cryptocurrency for money laundering, the rise and takedown of AlphaBay, cyber heists involving online games, the controversy of tools like Tornado Cash, and the parallels between tech companies and money launderers in operating environments.
29:02
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Quick takeaways
- Money laundering involves placement, layering, and integration stages to disguise illicit funds and sustain wealth.
- Criminals exploit cryptocurrencies like Bitcoin for money laundering, concealing proceeds from traditional asset seizure.
Deep dives
Pablo Escobar's Money-Laundering Tactics
Pablo Escobar's money-laundering techniques involved the logistics challenge of moving profits back to Colombia, where cash occupied more space than cocaine. Escobar's family, like his nephew Nicholas, later discovered $18 million in a hidden room decades after his death, illustrating the necessity of laundering money to prevent degradation and loss of value over time.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode