STR: Suspicious Transaction Report
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.
info_outline
CFCS at RUSI Has Changed Its Name – Here's Why
04/19/2024
CFCS at RUSI Has Changed Its Name – Here's Why
In this special edition episode of the Suspicious Transaction Report, CFS Director Tom Keatinge and Head of CFS Europe Kinga Redlowska discuss the motivation behind the programme’s recent name change, upcoming research outputs, and what exciting activities will take place in 2024 as CFS celebrates 10 years of pioneering analysis and research.
/episode/index/show/suspicioustransactionreport/id/30882383
info_outline
Getting to Grips with Crypto
04/12/2024
Getting to Grips with Crypto
Host Allison Owen, CFCS Associate Fellow, is joined by David Carlisle, Vice President of Policy and Regulatory Affairs at blockchain analysis and crypto data company Elliptic London, and RUSI Associate Fellow, to discuss all things cryptocurrency. With David's new book The Crypto Launderers: Crime and Cryptocurrencies from the Dark Web to DeFi and Beyond just out, they delve into the complex intersection of technology, regulation and crime, and the challenges law enforcement agencies face in investigating crypto.
/episode/index/show/suspicioustransactionreport/id/30794933
info_outline
Enforcing and Preventing the Circumvention of Sanctions
03/28/2024
Enforcing and Preventing the Circumvention of Sanctions
In this episode, host Gonzalo Saiz, CFCS Research Fellow, is joined by Daniel Tannebaum, Partner at management consultancy firm Oliver Wyman, and Jan Dunin-Wasowicz, Partner and Co-Chair of Hughes Hubbard & Reed’s Sanctions, Export Controls & Anti-Money Laundering practice group. They discuss the differences in the US and EU approaches to sanctions against Russia, how tackling the practice of sanctions circumvention through third countries impacts the private sector, and the role of enforcement action in countering sanctions violations.
/episode/index/show/suspicioustransactionreport/id/30578063
info_outline
A Financial Crime View from Africa
03/15/2024
A Financial Crime View from Africa
Host Tom Keatinge, CFCS Director, is joined by Xolisile Khanyile, former head of South Africa’s Financial Intelligence Centre and RUSI Senior Associate Fellow. They discuss her decades-long career as a prosecutor in the financial crime world, illegal wildlife trafficking, public-private partnerships, South Africa's FATF ‘grey-listing’, and how everyday crime impacts South Africa's response to money laundering.
/episode/index/show/suspicioustransactionreport/id/30374673
info_outline
Treasury in the Time of Russia Sanctions: Insights with Liz Rosenberg
03/01/2024
Treasury in the Time of Russia Sanctions: Insights with Liz Rosenberg
Host Tom Keatinge, CFCS Director, is joined by Liz Rosenberg, former Assistant Secretary for Terrorist Financing and Financial Crimes at the US Department of the Treasury. They discuss her ambitions for combatting illicit finance as she re-entered the US Treasury in 2021, her role in the review of the US sanctions strategy, the measures developed to respond to Russia's unprovoked war in Ukraine, including the oil price cap, and the priorities ahead for the US two years on from Russia’s full-scale invasion of Ukraine.
/episode/index/show/suspicioustransactionreport/id/30167203
info_outline
Ukraine’s Reconstruction: Russia Must Pay
02/16/2024
Ukraine’s Reconstruction: Russia Must Pay
Martin Sandbu, European economics commentator at the Financial Times, discusses the challenges and opportunities involved in using Russia’s currently frozen Central Bank assets to support Ukraine’s economy and reconstruction. The hashtag ‘Russia Must Pay’ is frequently trending on social media, boosted by politicians, civil society organisations and individuals outraged by Russia’s continued aggression. But while this sentiment is easy for politicians and financiers to articulate, it has yet to be matched in deeds. Martin Sandbu joins host Tom Keatinge to explore how the $300 billion of immobilised Russian Central Bank assets could be unlocked and deployed to support the Ukrainian economy and fund the huge costs associated with the reconstruction of a country devastated by Russia’s illegal war.
/episode/index/show/suspicioustransactionreport/id/29982763
info_outline
Sanctioning China: Examining the Dilemma
02/02/2024
Sanctioning China: Examining the Dilemma
China’s regular muscle-flexing and other threatening moves towards Taiwan poses a great challenge. How should the West think about this behaviour, given the integration of China into the international economy and the extent to which the West relies on trade with Beijing? Could sanctions be used as a policy instrument here? In this episode, host Kinga Redlowska, Head of CFCS Europe, is joined by Emily Kilcrease, Senior Fellow and Director of the Energy, Economics and Security Programme at the Center for a New American Security (CNAS). They discuss the findings of a recent CNAS report entitled ‘No Winners in This Game: Assessing the US Playbook for Sanctioning China’. If you are curious about possible sanctions scenarios in the case of an escalation of tensions between the US and China, then don’t miss this week’s episode.
/episode/index/show/suspicioustransactionreport/id/29747343
info_outline
Fighting Financial Crime: Insights with Danny Glaser
01/19/2024
Fighting Financial Crime: Insights with Danny Glaser
The financial crime and sanctions world has mushroomed into a global industry. Thousands of compliance officers, analysts, policymakers and law enforcement officials are involved in some element of this behemoth. Among these many thousands, a few figures have emerged as opinion formers – those who found themselves at the forefront of developments. In this episode, host Tom Keatinge, Director of the Centre for Financial Crime and Security Studies at RUSI, is joined by Danny Glaser who has spent over 20 years at the heart of US efforts to advance the fight against financial crime. They talk about sanctions, terrorist financing, and the ‘most powerful organisation few have ever heard of’: the Financial Action Task Force (FATF).
/episode/index/show/suspicioustransactionreport/id/29559733
info_outline
The Challenge of Sanctions Circumvention
01/05/2024
The Challenge of Sanctions Circumvention
Sanctions circumvention has been at the core of policy discussions on restrictive measures. But what does ‘circumvention’ mean, and what is the on-the-ground reality in the countries that are so often associated with this activity? Host Kinga Redlowska, Head of CFCS Europe, is joined by Carl Schreck, investigative journalist at Radio Free Europe, and Olivia Allison, CFCS Associate Fellow, to discuss the challenge of tackling sanctions circumvention and evasion.
/episode/index/show/suspicioustransactionreport/id/29307898
info_outline
The Impact of Sanctions on Russia
12/15/2023
The Impact of Sanctions on Russia
While the tempo of Russia sanctions issuance has dropped off, policymakers and diplomats are working to boost their effectiveness. But what does ‘sanctions effectiveness’ mean and how can we measure it? And are sanctions serving their purpose to undermine the Russian war machine? Host Kinga Redlowska, Head of CFCS Europe, is joined by Elina Ribakova, Non-resident Senior Fellow, Peterson Institute for International Economics, and Timothy Ash, Senior EM Sovereign Strategist, BlueBay Asset Management, to discuss the challenge of assessing the effectiveness and impact of sanctions on Russia.
/episode/index/show/suspicioustransactionreport/id/29077928
info_outline
Crypto Risk Assessed
12/01/2023
Crypto Risk Assessed
Those in the private sector can often feel stuck between policymakers who fear cryptocurrencies are undermining their carefully built regulatory fortifications, and the online world of dark markets beyond those regulatory walls. Host Tom Keatinge is joined by co-author Allison Owen, CFCS Associate Fellow, and Rodrigo Peiteado, Senior Manager of Digital Asset investigations at BVNK, to discuss a new virtual asset risk assessment guide for the private sector published by the CFCS:
/episode/index/show/suspicioustransactionreport/id/28867293
info_outline
Behind the Scenes of EU Sanctions Diplomacy
11/17/2023
Behind the Scenes of EU Sanctions Diplomacy
Effective implementation of sanctions requires cooperation with partners around the globe. Host Tom Keatinge, Director of CFCS at RUSI, sat down with EU Sanctions Envoy David O’Sullivan in Brussels to explore the EU’s approach to negotiations with third countries to clamp down on the circumvention of sanctions, emphasise the importance of data in sanctions diplomacy and stress the role of the private sector in making sanctions effective.
/episode/index/show/suspicioustransactionreport/id/28685743
info_outline
Hamas Financing
11/03/2023
Hamas Financing
Before 7 October 2023, the terrorist threat posed by Hamas was largely clouded by preoccupation with geopolitical tensions and the ongoing war in Ukraine. But not anymore. Hamas’s coordinated attacks on Israel and the resultant conflict has made the terror group’s threat and its financing unavoidable. Host Stephen Reimer unpacks the key issues and debunks some common myths at the heart of the Hamas financing story with Jessica Davis of Insight Threat Intelligence and Matthew Levitt of The Washington Institute for Near East Policy.
/episode/index/show/suspicioustransactionreport/id/28499159
info_outline
Debanking in the Spotlight
10/20/2023
Debanking in the Spotlight
Recently, the political class in Westminster has been consumed with with the conduct of bank accounts or, more specifically, when these are being closed, unilaterally, by banks. It’s a long running problem. Might the spotlight brought to the issue by Nigel Farage finally create some overdue action by the UK government? In this episode, host Tom Keatinge is joined by Izabella Kaminska from Politico and the Blind Spot, and Siddharth Venkataramakrishnan, the Financial Times’ banking and fintech correspondent, to explore what has been going on – and why the Farage farrago is perhaps old wine in new bottles.
/episode/index/show/suspicioustransactionreport/id/28373774
info_outline
Losing its Legitimacy? The Future of the FATF
10/06/2023
Losing its Legitimacy? The Future of the FATF
As multilateral organisations battle strong geopolitical headwinds, the Financial Action Task Force (FATF) – the global financial crime watchdog – is not immune to such pressures. Indeed, it faces a range of challenges that are increasingly raising questions about its continued legitimacy. In this episode, host Tom Keatinge explores what these challenges are and how the FATF might stay ahead of them with two former FATF insiders, David Lewis and Michelle Harwood.
/episode/index/show/suspicioustransactionreport/id/28233401
info_outline
Season 6 Trailer: A New Concept for STR!
09/22/2023
Season 6 Trailer: A New Concept for STR!
Tom Keatinge and Alanna Putze, two of your CFCS podcast hosts, introduce a new concept for the Suspicious Transaction Report podcast, offering listeners fresh content on the intersection between finance and security. Here is a glimpse of what’s in store, including some of the guests, topics and ideas that will feature throughout the season.
/episode/index/show/suspicioustransactionreport/id/28111850
info_outline
Power, Wealth and State Threats
06/23/2023
Power, Wealth and State Threats
Is there a resurgence of state threats or have democracies just opened up their eyes to this complex challenge? In a season that explores today's varied threat landscape, this final episode delves deeper into the dynamics between economics and security. Host Tom Keatinge is joined by RUSI Trustee Suzanne Raine and Associate Fellow Jason Shepherd to discuss the blurring of geopolitics and finance through the lens of history and look at what must happen to strengthen democratic resilience for the future.
/episode/index/show/suspicioustransactionreport/id/27243789
info_outline
The Many Facets of the Cyber Threat
06/09/2023
The Many Facets of the Cyber Threat
How do adversarial states exploit cyber to pursue their own strategic objectives? From intelligence gathering and information operations to physical disruption and financial gain, cyber operations are increasingly shaping the global threat landscape. And it’s not just large state actors such as Russia and China that are behind them, but also dozens of emerging states, along with contractors and private entities. Dr Jamie Collier of Mandiant joins host Alanna Putze to explore the implications of this multifaceted threat and whether democracies are on track to respond.
/episode/index/show/suspicioustransactionreport/id/27090159
info_outline
Disinformation and Political Warfare
05/26/2023
Disinformation and Political Warfare
Disinformation is not new, but it has certainly evolved. Today, it is strongly linked to international security, as malign actors seize on it to pursue their own strategic interests. Are democracies equipped to navigate this new landscape of political warfare? Host Alanna Putze is joined by Monika Richter of the American Foreign Policy Council and Graham Brookie of the Atlantic Council’s Digital Forensic Research Lab to explore the multifaceted scope of today’s disinformation challenge, and why tackling it is vital for democratic security.
/episode/index/show/suspicioustransactionreport/id/26958744
info_outline
Emerging Security Challenges: NATO Adapts
05/12/2023
Emerging Security Challenges: NATO Adapts
Hybrid warfare is on the rise. From cyber and disruptive technologies to energy security and economic interconnectedness, malign actors have an array of domains to exploit. How has NATO adapted, and can it be nimble enough to stay ahead in a rapidly evolving threat landscape? Host Tom Keatinge is joined by James Appathurai, NATO’s Deputy Assistant Secretary General for Emerging Security Challenges, to explore how the military alliance is building resilience and the private sector’s vital role in this effort.
/episode/index/show/suspicioustransactionreport/id/26812395
info_outline
The State-Crime Nexus: Spotlight on Russia
04/28/2023
The State-Crime Nexus: Spotlight on Russia
How are organised crime and illicit finance exploited as vectors of state-based threats? This episode focuses on Russia and the unique capabilities it gains via illicit proceeds, including the power to subsidise occupation. Host Stephen Reimer is joined by Tena Prelec of the University of Oxford and Rowan Newman of the UK government's Serious and Organised Crime Network as they explore the blurred lines between government, business and criminal actors and the impact on international security.
/episode/index/show/suspicioustransactionreport/id/26680875
info_outline
Countries for Sale: Latvia?
04/14/2023
Countries for Sale: Latvia?
Interference and influence – whether in politics, national institutions or boardrooms – has long been an objective of adversaries of democracy, who frequently deploy money in pursuit of their goals. This episode spotlights Latvia, a country that is no stranger to corrupt external influences. CFCS’s Tom Keatinge is joined by journalists Sanita Jemberga and Edward Lucas to explore what went wrong in Latvia, why the rest of Europe is not immune to this threat, and what must be done to safeguard democracy.
/episode/index/show/suspicioustransactionreport/id/26531982
info_outline
Non-State Proxies: The Wagner Group
03/31/2023
Non-State Proxies: The Wagner Group
What role do non-state proxy groups play in the current global security framework? This episode focuses on the Wagner Group, which has the potential to aid Russian state interests on multiple fronts, and not just on the battlefield. Host Stephen Reimer dives into the murky world of the Wagner Group, state threats and finance with guests Justyna Gudzowska, director of illicit finance policy at investigative NGO The Sentry, and Jason Blazakis, director of the Centre on Terrorism, Extremism and Counterterrorism at the Middlebury Institute in Monterey, California.
/episode/index/show/suspicioustransactionreport/id/26401299
info_outline
The Financial Dimensions of State Threats
03/17/2023
The Financial Dimensions of State Threats
Are the UK and its allies sufficiently equipped to tackle today’s threats from hostile state actors? And how might placing those threats under a financial lens help to shape responses? Host Tom Keatinge is joined by RUSI Associate Fellow and Senior Specialist at the House of Commons Ashlee Godwin, and Jonathan Evans, former Director General of MI5. They set the scene for this season’s theme of ‘finance weaponised’, exploring the evolving state threat landscape and how it might impact the future of democracy.
/episode/index/show/suspicioustransactionreport/id/26258028
info_outline
Active Financial Measures
04/22/2022
Active Financial Measures
The final episode explores a major global challenge that initially lacked a cohesive policy response and now poses an urgent threat. CFCS’s Alanna Putze is joined by the Atlantic Council’s Julia Friedlander and journalist Edward Lucas to explore the active financial measures that malign actors use to corrode trust in democracy. With Russia as the prime example, they ask if the world possess the policy leadership and strategic vision required to safeguard global democracy at this crucial moment.
/episode/index/show/suspicioustransactionreport/id/22866665
info_outline
Sanctions: Spotlight North Korea
04/14/2022
Sanctions: Spotlight North Korea
The UN first placed North Korea under international sanctions 15 years ago. Yet despite continued provocations and clear evidence of violations, there have been no substantive changes to the sanctions regime for the past five years. Is it time to rethink our sanctions approach to North Korea? CFCS’s Sasha Erskine and Aaron Arnold are joined by former UK Ambassador to South Korea Alastair Morgan to examine the evolution of North Korea sanctions, the current state of play, and what we might expect in the future. If you've any follow-up questions for Sasha and Aaron, you can find their contact information on their profile pages on the RUSI website: rusi.org/cfcs
/episode/index/show/suspicioustransactionreport/id/22780232
info_outline
Punishment: Is It Working?
04/08/2022
Punishment: Is It Working?
What happens when firms get financial crime compliance wrong? Ten years ago, the compliance world was rocked when the US authorities handed HSBC a $1.9 billion fine for “unacceptable failures” in its anti-money laundering procedures. These fines set a lot of activity into motion. But to what effect? Roger McCormick of Bayes Business School joins CFCS’s Isabella Chase to dive into the punishment playbook, exploring its impact, how its changed and where it might be heading.
/episode/index/show/suspicioustransactionreport/id/22725857
info_outline
Countering Proliferation Financing: What Lies Ahead
04/01/2022
Countering Proliferation Financing: What Lies Ahead
Countering the financing of weapons of mass destruction is an important component of global non-proliferation efforts. While the focus has largely been on North Korea, as well as Iran, countering proliferation financing (CPF) is likely to apply to other actors in the future. Are the measures put in place sufficiently future-proofed? CFCS’s Wojciech Pawlus is joined by Jonathan Brewer of King’s College London and RUSI’s Darya Dolzikova to look at the origins of CPF policy and examine what might lie ahead.
/episode/index/show/suspicioustransactionreport/id/22638104
info_outline
Environmental, Social and Governance Policy Evolutions
03/25/2022
Environmental, Social and Governance Policy Evolutions
It’s hard to keep up with the pace of change in environmental, social and governance (ESG) policy. With a number of game-changing developments in the past year alone, there’s no doubt that ESG is at the forefront of the agenda, for both corporates and the financial sector. RUSI’s Alexandria Reid dives into this rapidly evolving world with James Ford of Mayer Brown. Together, they discuss lessons from the past 10 years of ESG policy, and what we might expect next.
/episode/index/show/suspicioustransactionreport/id/22556909
info_outline
The Fraud Epidemic
03/18/2022
The Fraud Epidemic
Fraud is an age-old crime; one that has drastically evolved in recent years. Far from the small-scale individual acts or larger corporate offences of the past, organised volume fraud has now reached epidemic levels, posing a growing threat to the UK’s national security and financial stability. CFCS’s Kathryn Westmore is joined by Jonathan Holmes of PwC’s Digital and Forensic Services Investigations Team, to explore how well we’ve adapted and how we can best stay ahead of the fraud threat.
/episode/index/show/suspicioustransactionreport/id/22489688