It’s excellent to see the focus on this in government, a really important issue. I’m also personally gratified that the Security Minister used the phrase ‘high street money laundering’ as I feel we are one step closing to adopting the acronym HSML which I have copyrighted (I haven’t).

This sounds to me like they’ll be weaponizing FATF recommendation 8 (prevention of terrorist abuse of the non profit sector). It’s a powerful tool that has been used by authoritarian regimes to shut down dissent.

Following the crowd and maintaining the status quo is comfortable – and the kleptocrats, corrupt and criminals hope that does not change, write Georgia Jones, Tom Keatinge and Kathryn Westmore.

🚨🧵New RUSI paper, ‘Following the Fraud: The Role of Money Mule’ by @kathrynwestmore.bsky.social and Allison Owen is out now!

Sunday lunch with a side of anti-money laundering.

We're hosting a panel event at RUSI at 0900 on 3 April to discuss the UK government's ongoing consultation on ransomware legislation. I'll be joined by: @alexmartin.bsky.social @kathrynwestmore.bsky.social Verona Hulse-Johnstone (NCC Group) Edward Lewis, CyXcel my.rusi.org/events/asses...

I think my 5 year old might actually be trying to steal my job. He brought this home from school today. I’m pretty sure he’s making me redundant.

So many questions about how the UK’s proposed new OIC sanctions will work. We wrote a piece about some of those questions and what the government should consider to ensure the sanctions actually have an impact.

Reposting this fine write-up by @kathrynwestmore.bsky.social and @jamiemaccoll.bsky.social on Operation Destablise. A compendium of national security threats, showing the clear links between organised crime, sanctions evasion and hostile state activity. Read👇 www.rusi.org/explore-our-...

New investigation from @occrp.org with research by @transparencyuk.bsky.social highlights the limits of current UK transparency reforms. Trusts are the new transparency frontier. Regs laid by gov earlier this month could help but, on first blush, have some issues. www.occrp.org/en/investiga...

Want to come and work with me at the @cfs-rusi.bsky.social working on all things financial crime policy? We’re recruiting for a new research analyst/project officer. Details here! royalunitedservicesinstitute.peoplehr.net/Pages/JobBoa...

Statement in the Commons today by the Government, on tackling corruption at 3:30pm - one to watch this Anti-Corruption Day. We're expecting a few announcements

Everyone else: The best thing about Christmas is the goodwill and festive community cheer. Me, a criminal lawyer: I’ve embedded a location tracker in my Christmas wreath in case anyone tries to nick it.

I have just bought myself this and I couldn’t be happier with life right now. www.selfridges.com/GB/en/produc...

In the latest RUSI Commentary, @jamiemaccoll.bsky.social and @kathrynwestmore.bsky.social note that a Russian-speaking money laundering network uncovered by @nca-uk.bsky.social shows the clear links between organised crime, sanctions evasion and hostile state activity.

New: What does Operation Destabilise mean for the future of the UK’s response to illicit finance? Also, Tether is bad. @jamiemaccoll.bsky.social and I have shared our perspectives over on the @rusi.bsky.social website this afternoon. www.rusi.org/explore-our-...

Look at this line up! Very excited for this is treat in the new year - some of best in the business talking about #statethreats.

“I don’t think anyone could anticipate the size and complexity of this operation, the huge amounts of cash involved, and the number of different organized criminal gangs which used the services” — @kathrynwestmore.bsky.social

🚨Following the news that the @nca-uk.bsky.social has uncovered a multi-billion-dollar Russian money laundering network, RUSI's @kathrynwestmore.bsky.social provides her analysis below.

Operation Destabilise is the most stunning example yet of crypto's great use-case, which is to move value between countries outside any controls against money laundering. www.bbc.co.uk/news/article...

The NCA have busted a multi-billion dollar money laundering network in the UK. The grouo facilitated the exchange of cash to crypto on a massive scale. The networks also funded state-linked activities including espionage and disinformation. www.nationalcrimeagency.gov.uk/news/operati...

Maybe it would be easier just to list the countries not having a war or political/constitutional crisis?

Wrote something quickly on the back of this thread Tldr: Britain's election laws are completely broken. Either we act fast to fix them or we are in serious, serious trouble democracyforsale.substack.com/p/musks-100m...

So, my husband and I both managed to forget that we were supposed to be going to birthday celebrations today for HIS 40th birthday.

My mother has spent quite a lot of today telling me that I’m wrong about 1) how crypto works and 2) how Gen AI can be used to commit fraud. She listened to something on Radio 4 this week and is now, clearly, the expert.

Back in my consulting day, I had a client who would always send me stroppy emails last thing on a Friday. Now I get - much more polite - emails last thing on a Friday from people who disagree with something I’ve written and want to tell me why I’m wrong.

Bulgarians plead guilty to involvement in Jan Marsalek spy ring Court hears that former Wirecard executive “was acting as the intermediary for the Russian Intelligence Services”. Directed them to spy on US air base, among other plots.

Excellent new research from our friends at @transparencyuk.bsky.social 👇🏻

I was at a conference yesteday where these proposals were discussed and, based on that, it’s fair to say that there will be some disappointment that the FCA has not capitulated completely on.ft.com/3Zsphbh

📅Join us on 10 December for the launch of a new research paper written by RUSI's Eliza Lockhart, supported by @soc-ace.bsky.social, on the impact of whistleblower reward programmes, and a panel discussion on the importance of boosting economic crime detection and deterrence.

It’s not enough to keep imposing new sanctions if you don’t enforce the existing ones! Those violating these sanctions by trading with these firms need to be put on notice. www.bloomberg.com/news/article...

This, from @alphaville.ft.com, is just wonderful: Barosaurus fined after dropping challenge over tar-pit payments on.ft.com/4eRsuoV

I have a new report out today! I gathered some of my favourite people to look ahead to the UK’s next FATF mutual evaluation in 2027. Is the UK any better at dealing with money laundering and terrorist financing than 10 years ago? Read on to find out! www.rusi.org/explore-our-...

I am on a long, solo (!) train journey. I have two books and the second half of @theresthistory.bsky.social’s podcast series on the French Revolution. And snacks, obviously. This is the most luxurious Saturday morning I have had in a very long time.

This an absolutely fascinating thread/article from @jim.londoncentric.media about all of the illegal activity going on over Westminster Bridge, also a stone’s throw from the RUSI offices.

I have been trying to keep my Financial Crime starter pack up to date but do let me know if you think I’ve missed you and then we can have an awkward conversation where I pretend it wasn’t actually deliberate. go.bsky.app/6XZCH7k

My plans for a quiet pre-Christmas period have been somewhat scuppered by the fact that I don’t seem to be able to say no to speaking invitations! Up first, I’ll be at my faves, the Association of Foreign Banks next Weds to talk about the future of AML regulation.

This is a really welcome moment and hopefully the start of a new emphasis on using anti-corruption sanctions more ambitiously, and cleaning up the UK's own backyard. Great work by the UK's Foreign Office to get this over the line.

Some major new anti-corruption sanctions announced today by the FCDO: Dimitry Firtash, Isabel dos Santos and Aivars Lembergs (plus wives/associates). The start of the Foreign Sec’s campaign on corruption and illicit finance.

New drama! One of the parents has been making a monthly donation to the school’s charity fund for the last year or so. They were given the bank details on a piece of paper at a school meeting. BUT it is not the bank account of either of the school’s funds. Where has it gone?! Is it a huge fraud?!

Someone has just sent me a copy of an academic paper that should be published soon which is basically my dream paper. I’m both super excited to read it and very annoyed that I didn’t write it.

And they’ve joined! @cfs-rusi.bsky.social are now on Bluesky!

I did not expect to wake up to snow this morning.

Team #CFS had a lovely evening out at the Tackling Economic Crime Awards on Friday. @keatingetom.bsky.social was robbed in his category of outstanding individual contribution to tackling economic crime but we looked excellent and I had a long chat about Chinese underground banking which was a treat!

The beginnings of a Starter Pack for the Centre for Finance and Security @ @rusi.bsky.social! Contains staff, associate fellows and other parts of RUSI that we work with. go.bsky.app/A2qCFV3

Delighted to see my esteemed employer - @rusi.bsky.social - on here. Now to convince my colleagues at RUSI’s Centre for Finance and Security to follow!

I moderated a super interesting roundtable this week on #AI and financial crime and some of the challenges in implementation. The bottom line was that it all came back to people - more resources + different skill sets were needed.

I’m always happy to listen to @oliverbullough.bsky.social talking about #financialcrime, and while I’d like to be able to continue to pretend none of this is happening for as long as I can, if I’m going to have to think about it then this is the way to go… open.spotify.com/episode/1BcP...

As always, a somewhat alarming story about how tech is enabling organised crime in Russia on a massive scale with potential knock on implications for neighbouring countries and international security. amp.theguardian.com/world/2024/n...