STR: Suspicious Transaction Report
Royal United Services Institute
From the team analysing the intersection of finance and security, tune into compelling conversations on the real-world impact of global illicit finance.
This podcast explores the financial dimensions of today's leading transnational security challenges. Host Tom Keatinge and the team from the Centre for Finance and Security at RUSI bring you unique insights on the challenges posed by illicit finance and practical analysis of the policy responses. They interview top thinkers and influential voices who unpack the complex world of money laundering, corruption, sanctions evasion and illicit flows, and explain how this shapes the evolving global security landscape, and what democracies and international institutions must do to stay ahead when it comes to the financial dimensions of the global threat outlook.
Suspicious Transaction Report is also home to CFS's 'Financial Crime Insights' podcast, which ran from 2020 to 2023.
This podcast explores the financial dimensions of today's leading transnational security challenges. Host Tom Keatinge and the team from the Centre for Finance and Security at RUSI bring you unique insights on the challenges posed by illicit finance and practical analysis of the policy responses. They interview top thinkers and influential voices who unpack the complex world of money laundering, corruption, sanctions evasion and illicit flows, and explain how this shapes the evolving global security landscape, and what democracies and international institutions must do to stay ahead when it comes to the financial dimensions of the global threat outlook.
Suspicious Transaction Report is also home to CFS's 'Financial Crime Insights' podcast, which ran from 2020 to 2023.
Episodes
Mentioned books
Feb 28, 2025 • 42min
Belarus: The Forgotten Sanctions Regime
Sanctions on Belarus cover multiple issues: fraudulent elections, human rights abuses, and complicity in Russia's military aggression against Ukraine. But what is their real impact? Head of CFS Europe Kinga Redlowska is joined by Lev Lvovskiy, Senior Researcher at the Belarusian Economic Research and Outreach Center (BEROC) , and Tom Keatinge, Director of CFS, to examine the goals and effectiveness of sanctions on Belarus. The discussion covers economic impact, the Belarus–Russia alignment on sanctions evasion, and key challenges in sanctions enforcement.
Feb 14, 2025 • 30min
Canada Under Pressure: Tariffs, Illicit Finance and Trump
Tom Keatinge and Jessica Davis explore the impact of Trump's tariff threats on Canada, alongside the country's ongoing challenges with illicit finance and money laundering. CFS Director Tom Keatinge is joined by Jessica Davis, CFS Associate Fellow and President and Principal Consultant with Insight Threat Intelligence, to discuss the rationale and impact of the threat of tariffs from the new US administration, and the policy window this might open for wider illicit finance reforms in Canada.
Jan 31, 2025 • 37min
Eyes on the Inside: Incentivising Whistleblowers to Expose Economic Crime
This episode explores the potential of whistleblower reward programmes to transform economic crime investigations. CFS Director Tom Keatinge is joined by Eliza Lockhart, Research Fellow at CFS, and Nick Ephgrave, Director of the Serious Fraud Office, to discuss Eliza's SOC ACE research paper, 'The Role of Financial Rewards for Whistleblowers in the Fight Against Economic Crime'. Together, they examine how financial incentives could empower whistleblowers, tackle economic crime and drive cultural and systemic change in the UK. Read the full paper
Jan 17, 2025 • 41min
State Threats – Same Old Same Old, or Something Different?
Talk of state threats, hostile states and hybrid warfare has notably increased. But how do these threats differ from those faced in the past? CFS Director Tom Keatinge is joined by Matthew Redhead, Senior Associate Fellow at CFS, to discuss his new Serious Organised Crime and Anti-Corruption Evidence (SOC ACE) research programme paper, 'Old Wine, New Bottles: The Challenge of State Threats', and to explore this increasingly prevalent phenomenon. Read the report here: https://rusi.org/explore-our-research/publications/external-publications/old-wine-new-bottles-challenge-state-threats
Jan 3, 2025 • 36min
Understanding Russia's Growing Campaign of Sabotage
We explore the growing threat of sabotage attacks across Europe and the technological tools used for financing and recruitment. Host Tom Keatinge is joined by Dr Daniela Richterova, Senior Lecturer and Associate Professor at the Department of War Studies at King's College London, and Holger Roonemaa and Inga Springe, investigative journalists from the Baltic states, to discuss Russia's growing campaign of sabotage. For further reading, see Holger and Inga's reporting here and Daniela's co-authored article for the RUSI Journal on the sabotage gig economy here.
Dec 13, 2024 • 28min
The Honey Trap: A Tale of Scandi-Banking Noir
This episode explores the astonishing case of one of the world's biggest money-laundering schemes via the well-known Swedish Bank, Swedbank. Host Tom Keatinge, CFS Director, and investigative reporter Axel Gordh Humlesjö examine the Swedbank story, what led to the investigation and how, even if banks have robust compliance systems that safeguard them against criminal misuse, they remain vulnerable to those with malign intent.
Nov 29, 2024 • 35min
Uncertainty Ahead: Sanctions and Trump's Return
How might a second Trump term reshape the US's use of sanctions? Host Kinga Redlowska, CFS Director Tom Keatinge and sanctions expert Jeff Lord examine the potential impact of a second Trump term on Russia, and how Europe should respond. With the rise of China and changing global dynamics, the conversation considers whether Trump's trademark 'maximum pressure' tactics will resurface – or if he'll veer towards a novel and more unpredictable strategy.
Nov 15, 2024 • 40min
Inside the Financial Empire of the Wagner Group
Tom Keatinge and Wagner expert Jack Margolin discuss how the group became a global mercenary powerhouse and how to counter the rise of such groups. With insights from Jack Margolin, author of 'The Wagner Group: Inside Russia's Mercenary Army', this episode explores how the Wagner Group evolved into a global mercenary enterprise, profiting from conflict worldwide. With host Tom Keatinge, they unpack Wagner's unique financial model, the strategic use of corruption, and how sanctions aim to contain these shadow networks. As new players emerge to fill the vacuum left by Wagner, they highlight the urgent need for the global community to address systemic vulnerabilities enabling such networks and to disrupt the rise and operation of similar paramilitary organisations.
Nov 1, 2024 • 39min
The Economic War Against Russia
Host Kinga Redlowska, Head of CFS Europe, and Tom Keatinge, CFS Director, are joined by Stephanie Baker, Bloomberg investigative journalist and author of Punishing Putin. They delve into the impact of sanctions on Russia following its illegal invasion of Ukraine, exploring Russia's evasion tactics, the role of oligarchs, and the evolving use of sanctions as a tool in global diplomacy.
Oct 18, 2024 • 46min
Addressing Authoritarian Abuse of the FATF Standards
Host Tom Keatinge sits down with CFS Associate Fellow Stephen Reimer and international lawyer Ishita Chakrabati to discuss how authoritarian regimes are abusing the Financial Action Task Force (FATF) standards. Drawing on insights from a two-year RUSI study, this episode analyses how the FATF standards, which aim to tackle money laundering and terrorist financing, are being exploited by authoritarian regimes to silence dissent. With the FATF gearing up for its upcoming plenary in Paris, the findings in our recent report emphasise the urgent need for the FATF to address these abuses and for the international community to take action to ensure the standards are used as originally intended.
