Episoder
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“If the decision-makers keep deciding that digital assets are just this fringe thing, there’s going to be a missed opportunity”
In this episode of Seize & Desist, our host, Aidan Larkin, explores tax compliance and enforcement in cryptocurrency with Miles Fuller, the director of government solutions at Taxbit, former senior counsel with the IRS Office of Chief Counsel and former Special Assistant United States Attorney.
Miles shares his background in tax litigation with the IRS and provides insights into how Taxbit helps to trace criminal assets by combining on-chain and off-chain data to gain a comprehensive view of an individual's tax obligations.
They also discuss the suitability of existing digital asset seizure legislation, the IRS’ use of John Doe summons to obtain information from exchanges and the delicate balance between ensuring privacy in cryptocurrency transactions and preventing tax evasion before examining and speculating on the future of tax-related asset seizures.
Timestamps
00:00 - Special Announcement - Asset Reality’s partnership with Taxbit
03:00 - Miles’ background with the IRS
07:00 - Investigative tools and data aggregation in asset seizures
10:30 - Tracing tools and address attribution in tax investigations
11:30 - Integrating complex financial data for tax calculations
13:00 - Streamlining financial investigations with crypto data tools
16:00 - Challenges of detecting fraud in the virtual asset space
21:00 - John Doe Summons in tax evasion investigations
26:00 - Balancing privacy and compliance in blockchain transactions
32:30 - Challenges of virtual asset seizures by governments
41:00 - The future of tax compliance in the digital asset era
Resources Mentioned
Asset Reality and Taxbit Partner to Enhance Digital Asset Seizure and ManagementDigital Asset Brokers: A Complete Guide to US Tax Compliance - TaxbitAbout our Guest:
Miles Fuller is the Director of Government Solutions at Taxbit.
As a former senior counsel with the IRS Office of Chief Counsel and former Special Assistant United States Attorney, Miles has a wealth of experience in tax-related asset seizures, having represented the IRS before the United States Tax Court, and has deep expertise in virtual asset tax and compliance issues, including regulatory guidance and policy development. Miles is also skilled in advanced investigation techniques for digital assets and has played a pivotal role in developing strategies to navigate the complexities of digital currency regulations.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“The bad guys are going to continue to find ways to hide money in plain sight.”
In this episode, Asset Reality’s US Compliance Officer David Tyree shares his experiences with asset seizures while working as a Resident Agent in Charge at the Drug Enforcement Administration (DEA).
David explores the complexities of non-conviction-based forfeiture with our host Aidan Larkin, emphasising the importance of tracing the assets back to criminal activities and the influence of adverse media on law enforcement decisions.
They also delve into the global challenges in asset recovery, consider how public and private sector partnerships can help tackle future obstacles in the field, explore the social reuse of seized assets and discuss why criminals prefer jail time over asset confiscation.
Timestamps
00:00 - Special Announcement - Register for Seize: London
00:00 - Special Announcement - Virtual Assets Transfer Fundamentals Certification
04:30 - Fighting Crime Through Asset Forfeiture
07:40 - Navigating Controversies in Civil Asset Forfeiture
18:00 - The Challenges of Seizing Cash
24:00 - Civil Forfeiture Process Explained
29:30 - Opportunities in Global Asset Recovery
36:00 - Reinvesting Seized Assets for Community Benefit
40:30 - Solutions in Crypto Asset Seizure and Forfeiture
Resources Mentioned
United States v. Gonzales, No. 18-8017 (10th Cir. 2019) :: JustiaMan indicted on money laundering, marijuana charges | Wyoming | gillettenewsrecord.comColorado, Wyoming restaurants accused of laundering drug money (denverpost.com)UNODC Factsheet: Money-laundering and related illicit financial activitiesAbout our Guest
David Tyree is the US Compliance Officer for Asset Reality, following a 25-year career as a Special Agent for the United States Drug Enforcement Administration (DEA). Throughout his service, David specialised in identifying, disrupting and dismantling sophisticated money laundering networks around the world, with a strong emphasis on investigating Suspicious Activity Reports (SARs) which resulted in the forfeiture of over $80 million in criminal proceeds.
Since 2004, David has been a regular instructor for the Department of Justice’s Money Laundering and Asset Recovery Section (MLARS), the United States Attorney’s Office and the United States Department of Justice.
Based on David’s successful contributions to asset forfeiture in the US, he was designated in Federal Court as a money laundering detection and prevention subject matter expert and also consults as a subject matter expert for assetforfeiturelaw.us.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“No one's taking action without a court order.”
In this special episode, we explore the complexities of cryptocurrency seizures with Joanna Summers, our SVP of Client Relations and resident seized asset specialist, after an extended introduction from David Tyree, our US Compliance Officer and former Resident Agent in Charge at the DEA.
Aidan and Joanna unpack the latest asset seizure headlines and discuss the nuances of dealing with seized assets, including the legal and operational challenges of maintaining their value for eventual disposal or return.
They also touch on the speculative nature of cryptocurrency, the ongoing debate around privacy coins, and the potential future of cryptocurrency seizure and management policies.
Don’t forget to register for Asset Reality’s seized asset webinar on Thursday, 29th August, at 3pm BST (10am ET) to join us as we review the latest industry best practices and discover practical ways to enhance asset seizure, management and disposal processes in the public sector.
Register to secure your spot today:
https://us06web.zoom.us/webinar/register/7217245339671/WN_8AkKbl-LQEm-xLkS3kksGg
Timestamps
00:00 - Register for Asset Reality's Seized Asset Webinar
01:00 - Extended Introduction from David Tyree
06:00 - Aidan's introduction
07:00 - Joanna's background
08:30 - Legalities of handling seized assets
11:00 - Complexities of government seizures
16:45 - US attitudes towards privacy coins
25:30 - Civil forfeiture vs criminal forfeiture
29:00 - Safely disposing of cryptocurrencies
37:40 - Social reuse of seized assets
39:45 - Extended outro from David Tyree
Resources Mentioned
Trump’s Plan for US Bitcoin Stockpile Alarms Forfeiture Experts - BloombergCzech police turn seized Ferrari into patrol car | Czech Republic | The GuardianWhy the presidential election could be decided by young crypto voters NAVIGATING THE PATH TO RESPECTABILITY: Crypto Assets Report - UK Finance 'Privacy coin' Monero offers near total anonymity | Reuters The German government owns around $2 billion in bitcoin — and it's freaking out crypto investors.About our Guest
Joanna Summers is the Senior Vice President of Client Relations and resident seized asset specialist at Asset Reality.
As the former Assistant Chief of the Asset Forfeiture Division Complex Assets Unit at the U.S. Marshals Service (USMS) Joanna led her team to build the USMS Cryptocurrency program, beginning with the landmark Silk Road Bitcoin seizure.
Under her guidance, the program oversaw the custody, management, and disposal of all ongoing business and complex financial instruments that are subject to forfeiture, evolving from conducting sealed bid auctions to implementing a streamlined liquidation process via cryptocurrency exchanges.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“It’s going to be pivotal for us to keep up with where criminals are going”
In this episode, Aidan and Kristen explore the future direction of cryptocurrency compliance.
Kristen shares her perspective on the international effectiveness of the Financial Action Task Force (FATF), the challenges of implementing the travel rule, and the significance of sanctions in asset recovery to combat financial crime.
They also explore the role of stablecoins in the evolving financial landscape, the potential use of AI by criminals and the implications of this technology for compliance professionals.
Timestamps
03:00 Kristen’s background in cross-sector compliance
07:00 Scrutiny on crypto companies and enforcement actions
10:30 The influence and challenges of FATF in financial regulation
22:30 Future of crypto enforcement and stablecoins in the US
28:30 The complexities of managing frozen and sanctioned assets
34:00 The future of AI in compliance and fraud detection
37:30 Positivity in financial crime compliance
Resources Mentioned
Kristen Hecht on LinkedIn Association of Women in Cryptocurrency (AWIC)MoonbergFATF’s report on global implementation of Recommendation 15Seize & Desist E2 with FATF’s former Executive Secretary David LewisAsset Reality supports the creation of The Seychelles first asset management unit (AMU)OneCoin Defendant Granted Bail pending Appeal | CoinpaperUNODC Report: Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia: A Hidden and Accelerating ThreatAbout our Guest
Kristen Hecht brings a wealth of expertise from her long career in financial crime prevention and compliance.
For several years, she worked closely with the US Treasury Department as a Senior Advisor in the Office of Terrorist Financing and Financial Crimes (OFAC) and the Financial Crimes Enforcement Network (FinCEN), before transitioning to the private sector, where she developed regulatory frameworks for financial crimes at HSBC China, Meta, and Binance.
Kristen is also a regional ambassador for the Association of Women in Cryptocurrency in France and the San Francisco Bay Area, an advisor for compliance and regulatory matters at DeFi startup Moonberg, and the Chief Compliance Officer for an undisclosed project that is currently in Stealth Mode.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“Money laundering is often very boring…Crypto is new. It’s exciting. It’s different.”
This time on ‘Seize & Desist’, our host Aidan Larkin is joined by investigative journalist Geoff White, author of ‘The Lazarus Heist’, ‘Crime Dot Com’, and ‘Rinsed’.
In this episode, Aidan and Geoff explore the influence of modern technology on money laundering and its ties to transnational organised crime. They examine how criminals have exploited advancements in digital asset infrastructure to hide their illegal activities and emphasise the important role of investigative journalism in illuminating financial investigations involving on-chain and off-chain activity.
They also discuss the difficulties of tracking illicit transactions in cryptocurrency, the influence of faster payments, and the future implications of AI-driven crimes.
Timestamps
06:30 - Explaining Cryptocurrency and Asset Recovery to the Unfamiliar
07:30 - Investigative Journalism in the Digital Age of Financial Crime
14:00 - The Underperformance of Global Asset Recovery
18:00 - Crypto and Traditional Finance in Money Laundering
19:00 - Cash-to-Crypto On-Ramp Methods
22:00 - Cryptocurrency and Drug Trafficking
24:00 - Crypto's Role in Modern Criminal Enterprises
26:45 - Crypto vs Traditional Finance Prosecutions
29:00 - Balancing Crypto Adoption with Safety and Regulation
32:00 - Crypto Asset Recovery and Immutable Blockchain Evidence
34:00 - AI-Powered Crypto Thefts
36:30 - The Controversial Role of Mixers in Crypto
Resources Mentioned:
Book - Rinsed https://amzn.to/3LhGWui Book - The Lazarus Heist https://amzn.to/4cCbEdC Book - Crime Dot Com https://amzn.to/3S0kSbq Podcast - The Lazarus Heist https://bbc.in/3zN0VhH Podcast - Artificial Intelligence: Friend or Foe? https://amzn.to/4bE6rAM Podcast - The Dark Web https://amzn.to/3Y2vF8C Podcast - The Laundry E86 https://apple.co/3y1xyru Oliver Bullough - https://amzn.to/3VYIwGdAbout our Guest:
Geoff White is an accomplished author, speaker, investigative journalist, and podcast creator specialising in the intersection of organised crime and technology.
For the past twenty years, Geoff has informed and entertained audiences on financial crime risks, money laundering, cryptocurrency, and the personal data trade. His work has been featured by BBC News, Channel 4, Sky News, The Sunday Times and many others.
His latest book, Rinsed, explores how technology has transformed the world of money laundering. Geoff is also the author of The Lazarus Heist, about North Korea's global cyber warfare, and Crime Dot Com, which delves into the history of hacking.
In addition to his books, Geoff has created and presented several successful podcast series for Amazon’s Audible, including The Dark Web, which exposes the internet's hidden underbelly, and Cybercrime Investigations, which takes listeners inside the world of an investigative journalist.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“The day will come that the world will begin to tokenise other real-world assets.”
In this episode, Aidan is joined by Gurvais Grigg, Chainalysis's Global Public Sector Chief Technology Officer and a former Assistant Director at the FBI.
Together, they examine how blockchain analytics is transforming asset seizure practices by providing law enforcement with crucial new insights for financial investigations.
Gurvais offers his insights into the future of digital finance investigations and the influence of blockchain technology on various sectors. The conversation explores the significance of following the money, building effective infrastructure in digital finance, and creating a more frictionless economy by representing physical assets through blockchain tokens.
Timestamps
06:00 - Following the Money to Combat Crime
09:00 - Gurvais’ Journey From Healthcare Fraud to Blockchain Analytics
11:30 - Explaining the Blockchain Assets to Non-Technical Audiences
15:00 - The Power of Blockchain Analytics in Financial Crime Investigations
25:00 - Building Effective Asset Recovery Programs Amid Challenges
31:00 - Leveraging Blockchain Analytics for Tax and Asset Recovery
40:00 - Representing Physical Assets Through Blockchain Tokens
Resources Mentioned:
Chainalysis The Chainalysis 2023 Geography of Cryptocurrency Report The Chainalysis 2024 Crypto Crime Report The Chainalysis 2024 Crypto Spring ReportAbout our Guest:
Gurvais Grigg is the Global Public Sector Chief Technology Officer at Chainalysis and Former Assistant Director at the FBI.
With over 29 years of distinguished experience in national security, law enforcement, and private sector investigations, Gurvais has been instrumental in leading numerous high-stakes criminal and national security investigations, specialising in tracking suspected terrorists, spies, and criminals.
His leadership extends to designing and implementing advanced operational and technical capabilities, positioning him as a recognised authority in the intersection of technology and security.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“You have to fight AI with AI.”
In this episode, we're bringing you a special conversation with Matt O’Neil, co-founder and partner at 50H Consulting and former Deputy Special Agent in Charge of Cyber at the US Secret Service.
Matt shares his unique insights and experiences with our host, Aidan Larkin. Together, they delve into the challenges of asset recovery and forfeiture, especially those concerning cyber-enabled fraud.
They discuss why the Secret Service investigates financial crimes, the importance of leveraging emerging technologies like AI to combat sophisticated transnational cybercrime and the necessity for enhanced information-sharing practices between the public and private sectors.
Timestamps
00:00 - Matt’s journey with the US Secret Service
05:00 - Using asset seizures to fight cyber-enabled fraud
09:30 - The Secret Service's role in investigating financial crime
12:00 - Challenges in asset recovery and forfeiture
15:00 - Operation Shamrock and enhancing cross-sector information-sharing
22:30 - Reimagining regulations for technology and finance
29:00 - Understanding a typical scam case
31:30 - Leveraging AI to combat transnational crime
35:30 - Future trends in financial crime and asset recovery
Resources Mentioned:
Operation ShamrockErin West and Pig Butchering on Seize & DesistUS Secret Service: Combating the Illicit Use of Digital AssetsAbout our Guest:
Matt O’Neil has over 25 years of experience disrupting and dismantling financially motivated transnational organised criminal groups with the US Secret Service.
As the former Managing Director of the USSS Global Cyber Investigative Operations Center (GIOC) and Cyber Intelligence Section (CIS), Matt was instrumental in coordinating international takedowns of digital money laundering networks and dark web marketplaces. His efforts led to the prosecution of globally notorious cybercriminals responsible for stealing and laundering billions. He also led their Asset Forfeiture Branch to successfully recover more than US$2 billion in seized assets in just 2 years.
Since retiring from the Secret Service, Matt has dedicated himself to raising awareness for the threats posed by transnational organised crimes like pig butchering, ransomware and phishing.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“As long as you have these continued gaps in the global regulatory framework around crypto, it’s…too easy for criminals to launder funds.”
In this episode, recorded on April 30th, Aidan and David discuss everything from his early encounters with crypto and his journey into the space to the insights on the evolution of crypto crime shared in his book, ‘The Crypto Launderers’.
Together, they explore the different regulatory approaches to digital money laundering, shed light on why crypto transactions get so much attention from regulators and speculate on the exciting future of cryptocurrency investigations, including the impact of emerging technologies like the metaverse and artificial intelligence.
Timestamps
03:30 - An Accidental Journey into Cryptocurrency Compliance
05:00 - Understanding Anti-Money Laundering Measures in Finance
09:30 - Cryptocurrency Regulation in an Evolving Industry
12:00 - Regulatory Compliance as a Competitive Advantage
15:00 - Balancing Compliance Costs with Anti-Money Laundering
20:00 - Global Disparities in Cryptocurrency Regulation
21:00 - The Complex Evolution of Cryptocurrency in Illicit Finance
25:00 - Blockchain: The Immutable Ledger of Cryptocurrency Transactions
30:00 - Evolving Tactics in Cryptocurrency Crime and Law Enforcement
35:00 - The Future of Global Money Laundering Prevention
37:00 - Evolving Challenges in International Law Enforcement
Resources Mentioned:
The Crypto Launderers: Crime and Cryptocurrencies from the Dark Web to DeFi and Beyond: Amazon.co.uk: Carlisle, David Elliptic’s Crypto Regulatory Affairs BriefingElliptic’s BlogRUSI's Center for Financial Crime and Security StudiesAbout our Guest:
David Carlisle wears many hats: he's the Vice President of Policy and Regulatory Affairs at Elliptic, an Associate Fellow at the Royal United Services Institute (RUSI)'s Centre for Financial Crime and Security Studies (CFS) and the Author of “The Crypto Launderers: Crime and Cryptocurrencies from the Dark Web to DeFi and Beyond”.
As a former Policy Advisor to the US Treasury’s Office of Terrorist Financing and Financial Crimes, David is a respected authority on the intersection of cryptocurrency crime, technology and public policy. He regularly shares his expertise on digital money laundering, regulatory compliance frameworks and sanctions compliance with major media outlets to help shed light on this intricate subject.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“The speed at which this happens is faster than anything we’ve seen before.”
In this episode, Seize & Desist host Aidan Larkin is joined by Jarod Koopman, the Executive Director of Cyber and Forensic Services at IRS Criminal Investigations.
As the only federal law enforcement agency to focus completely on fighting financial crimes, IRS Criminal Investigations has seized more digital assets than any other agency in the world. Aidan and Jarod discuss the secret to IRS-CI’s status as a world leader in digital currency investigations, the reliability of blockchain analytics data in court and the lasting impact of asset seizures on criminal behaviour.
Jarod shares his thoughts on the legitimacy of cryptocurrency transactions, the necessary compliance guidelines, and the parallels between Brazilian jiu-jitsu and cryptocurrency investigations.
Timestamps
01:00 - IRS's Expertise in Cybercrime and Asset Seizures
05:30 - Unveiling the Success Behind Major Investigations
07:00 - Revolutionizing Transactional Analysis with Blockchain Tools
11:30 - Collaborative Innovation in Cybercrime Investigations
13:30 - Evaluating FATF's Effectiveness in Asset Recovery
16:00 - Balancing Privacy and Crime Prevention
19:30 - Explaining Cryptocurrency Mixers and Blockchain Laundering
20:00 - Legitimate Uses of Cryptocurrency Amongst the Illicit Activity
25:30 - The Impact of Asset Seizure in Fighting Crime
30:00 - Law Enforcement and the Evolving Digital Landscape
33:00 - Fostering Resilience and Innovation
36:00 - Why Martial Arts Promotes Success in the Investigative Services
41:00 - Civil Forfeiture in Asset Recovery
44:00 - Validating Blockchain Analytics in Legal Judgments
Resources Mentioned:
Jarod on the TRM Talks PodcastSamourai Wallet Founders Arrested and Charged With Money Laundering IRS Criminal Investigations on LinkedInAbout our Guest:
Jarod Koopman is the Executive Director of Cyber and Forensic Services at IRS Criminal Investigations and a black belt in Brazillian Jiu-Jitsu.
He joined the IRS directly after college, rising through the ranks to become the agency's first director of cybercrime. In this role, Jarod oversees all global operations involving cyber and forensic activities, including policy, procedures, budget and investigative services. He also oversees the operation of their new centralised Advanced Collaboration and Data Center (ACDC) which specialises in training and support for crypto compliance.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“Crypto will be a piece in almost every investigation.”
In this episode, Ari and Aidan explore the pivotal role of blockchain analytics in crime prevention.
They delve into why traceable technologies like the blockchain appeal to both criminals and law enforcement agencies, shedding light on how mixing services can facilitate money laundering and examining the evolution of digital currency investigations using real-world examples like the Bitfinex hack.
Ari shares insights from his experiences in both the public and private sectors, including his first encounter with investigating crypto-enabled crimes.
Throughout the episode, they emphasize the importance of balancing financial transparency with individual privacy and advocate for increased education and resources to enable law enforcement agencies to effectively tackle crypto crimes.
Timestamps
02:30 - Networking and motivation through Ari’s running club
05:30 - Tackling the complexities of illicit finance and crypto recovery
10:00 - Libra's impact on global regulatory conversations
14:30 - Understanding cryptocurrency's regulatory challenges
21:30 - The normalization of crypto technology
30:00 - Cryptocurrency's role in modern asset recovery investigations
35:33 - Balancing privacy, innovation and security in the digital age
46:45 - Combating scams and enhancing crypto asset recovery
50:45 - Ari’s advice for fighting crypto-enabled crimes
Resources Mentioned:
TRM LEA Survey 23: 60% of investigations start w/o a crypto element TRM Talks PodcastTRM Weekly Roundup NewsletterTRM’s Illicit Crypto Economy Report 2023About our Guest:
Ari Redbord is the Global Head of Policy at blockchain intelligence firm TRM Labs and the Vice-Chair of the U.S. Commodity Futures Trading Commission's Technology Advisory Committee (TAC), known for his insights on cryptocurrency policy.
Prior to TRM, Ari served as the Assistant United States Attorney for the District of Columbia and the Senior Advisor to the Under Secretary for Terrorism and Financial Intelligence at the US Treasury, where he regularly collaborated with teams from the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FINCen) to investigate financial crimes involving cryptocurrency assets.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“Crypto exposed every crack in an undereducated, underutilised system.”
In this episode, recorded on the 15th of February, Aidan and Amanda delve into the world of digital asset recovery, exploring the complexities of civil forfeiture and the use of cryptocurrency to finance terrorism.
Drawing from her extensive background in policy, enforcement and legal affairs, Amanda offers valuable insights into how these experiences have shaped her perspective on cryptocurrency and the future of decentralisation.
Their conversation also touches on why the significance of initiatives like the Association for Women in Cryptocurrency, as Amanda emphasizes the need to improve inclusivity and empowerment across the digital finance ecosystem.
Timestamps
02:00 | Amanda's background as a federal prosecutor
06:30 | Civil vs criminal burden of proof
09:30 | The pros and cons of non-conviction-based forfeiture
18:00 | Cryptocurrency exposes the flaws in the existing asset recovery system
25:00 | Crime and innovation on the path to development
31:00 | The importance of optics in targeting crypto terrorist financing
41:00 | Why we need an Association for Women in Cryptocurrency
43:30 | #UnmanelYourPanel and other advocacy initiatives
46:00 | The importance of male allies to improve inclusion for women
Resources Mentioned:
WomeninCrypto.orgAssociation for Women in Cryptocurrency on LinkedInAssociation for Women in Cryptocurrency on Twitter (X)Women in Crypto Podcast: Decrypting Asset Recovery in Crypto with Joanna SummersAbout our Guest:
Amanda Wick is a prominent figure in the world of cryptocurrency and digital finance with an extensive background in policy enforcement and legal affairs.
Having served as the Senior Investigative Counsel for the US House of Representatives, Senior Policy Advisor for the Financial Crimes Enforcement Network (FinCEN) and the Chief of Legal Affairs at Chainalysis, Amanda has been a driving force behind some of the key policies shaping our financial landscape.
As the founder of the Association for Women in Cryptocurrency, Amanda is dedicated to fostering inclusivity and empowerment within the digital finance ecosystem, championing initiatives like ‘UnManel Your Panel’ that aim to break down barriers and pave the way for a more diverse industry.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“This is a massive romance investment scam that is bleeding the world of its money.”
On the 27th of February 2024, Asset Reality’s co-founder and CEO Aidan Larkin had the opportunity to sit down with Erin West to explore the real-world consequences of cyber-enabled crimes like pig butchering.
In this eye-opening conversation, Erin exposes the industrial scale of pig butchering sweatshops, revealing how even the 'scammers' themselves are often victims of trafficking.
Erin and Aidan discuss why a unified global response and drastic policy reforms are the only way to confront this escalating crisis effectively and highlight Operation Shamrock’s plan to educate the global public, seize the illicit proceeds and disrupt the activities of criminal networks.
Timestamps
04:00 | Erin West's background as a prosecutor and her mission to combat pig butchering
07:00 | The REACT task force and its role in investigating high-tech crimes
13:00 | Underestimating the emotional toll on victims of financial fraud
19:00 | Examples of transnational organized crime in Southeast Asia
27:00 | Operation Shamrock’s efforts to educate, seize, and disrupt cybercriminals
34:00 | Erin West explains how hackers use SIM swaps to gain access to financial accounts
38:00 | The dangers of crypto and the importance of authenticator tools for security
40:00 | The power of raising awareness through media coverage and public attention
45:00 | Why a unified global response is the only way to combat pig butchering scams
52:00 | Erin’s advice for potential victims of fraud
Resources Mentioned:
Last Week Tonight with John Oliver - February 25, 2024: Pig ButcheringUNODC Report:Transnational Organized Crime in East and Southeast AsiaNY Times Story: 7 Months Inside an Online Scam Labor Camp Operation ShamrockErin West on LinkedInAbout our Guest:
Erin West is one of the leading voices in transnational organised crime prevention and a passionate advocate for the rights of victims of financial crimes, particularly those affected by pig butchering.
As the Deputy District Attorney in Santa Clara County in the state of California, she collaborates with detectives and prosecutors as part of the REACT task force to investigate and address cyber-enabled crimes. Erin is on a mission to improve the practical support available for the most affected vulnerable victims through her latest initiative, Operation Shamrock.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“The fact that criminals now, a decade and a half into this ecosystem existing, can still successfully launder on a public ledger is kind of horrifying”
In this sequel episode of "Seize & Desist," Aidan Larkin is back with cybersecurity expert Carole House to continue their discussion on the challenges and potential solutions surrounding illicit finance in the crypto sector.
They delve into the decentralized nature of crypto, address the persistent underestimation of cyber threats posed by state-sponsored actors such as North Korea and examine the challenges inherent in our existing countermeasures against the sophisticated use of cryptocurrency in ransomware-as-a-service models.
They also touch on the centralized nature of stablecoins, the importance of responsible innovation and the need for the crypto industry to step up when it comes to compliance.
Timestamps
2 | Carole’s major role in public sector policy in crypto and background
13 | Blockchain analytics firms only capture a floor of illicit activity, not the ceiling
20 | The effectiveness of regulations in combating crypto-related crimes
26 | The ongoing debate of surveillance tools and a decentralised crypto society
31 | Lack of regulation and industry responsibility internationally
35 | Info sharing and other lessons from cybersecurity
Resources Mentioned:
Estimating illicit financial flows resulting from drug trafficking and other transnational organized crimes (UNODC 2-5% stat source)Congressional Hearing: Crypto Crime in Context Part II: Examining Approaches to Combat Illicit ActivityCounter-ransomware initiative (International Counter Ransomware Initiative (CRI) -)Book: Investigating Cryptocurrencies (by Nick Furneaux)Book: Currency Cold War (by David Birch)Podcast: The Lazarus Heist (by Geoff White) Podcast: Unchained (By Laura Shin)Book: The Cryptopians (By Laura Shin)Podcast: Bankless (By Adams and Hoffman)About our Guest:
Carole House is a cybersecurity and risk management specialist with a background in U.S. military intelligence.
Throughout her decorated career, she has held several senior positions in the government, including Senior Cyber and Emerging Tech Policy Officer at the US Treasury; Head of Virtual Assets at FinCen and Director of Cybersecurity and Secure Digital Innovation at the White House. In these roles, she spearheaded initiatives to strengthen digital infrastructure and counter cyber-enabled national security threats.
Carole currently serves as the Executive in Residence at Terranet Ventures, where she advises start-ups and non-profits on strategies to protect against emerging cyber threats.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“Blockchain analytics firms only capture a floor of illicit activity, not the ceiling”
In this insightful episode of "Seize & Desist," Aidan Larkin hosts cybersecurity expert Carole House for a rich discussion on the complexities of digital assets, cryptocurrency, and the pressing issue of ransomware. As a veteran in the field, Carole shares her unique perspective on the growth of crypto-related crime and the importance of debunking myths surrounding illicit finance statistics.
Carole and Aidan navigate through the thorny subject of quantifying illicit activities within the blockchain, how misinformation about these metrics can undermine efforts in combating crime, and the role of regulatory institutions like FinCEN.
Stay tuned for Part 2, where the duo address the persistent underestimation of cyber threats posed by state-sponsored actors such as North Korea, and the challenges inherent in our existing countermeasures against the sophisticated use of cryptocurrency in ransomware-as-a-service models.
Timestamps
2 | Carole’s major role in public sector policy in crypto and background
13 | Blockchain analytics firms only capture a floor of illicit activity, not the ceiling
20 | The effectiveness of regulations in combating crypto-related crimes
26 | The ongoing debate of surveillance tools and a decentralised crypto society
31 | Lack of regulation and industry responsibility internationally
35 | Info sharing and other lessons from cybersecurity
Resources Mentioned:
Estimating illicit financial flows resulting from drug trafficking and other transnational organized crimes (UNODC 2-5% stat source)Congressional Hearing: Crypto Crime in Context Part II: Examining Approaches to Combat Illicit ActivityCounter-ransomware initiative (International Counter Ransomware Initiative (CRI) -)Book: Investigating Cryptocurrencies (by Nick Furneaux)Book: Currency Cold War (by David Birch)Podcast: The Lazarus Heist (by Geoff White)About our Guest:
Carole House is a cybersecurity and risk management specialist with a background in U.S. military intelligence.
Throughout her decorated career, she has held several senior positions in the government, including Senior Cyber and Emerging Tech Policy Officer at the US Treasury; Head of Virtual Assets at FinCen and Director of Cybersecurity and Secure Digital Innovation at the White House. In these roles, she spearheaded initiatives to strengthen digital infrastructure and counter cyber-enabled national security threats.
Carole currently serves as the Executive in Residence at Terranet Ventures, where she advises start-ups and non-profits on strategies to protect against emerging cyber threats.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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“If it doesn't bang or bleed, no one's doing anything about it.”
In this episode of "Seize & Desist", Aidan Larkin sits down with David Lewis, Managing Director and Global Head of AML Advisory at Kroll, former Executive Secretary of the Financial Action Task Force (FATF) and leading figure in the battle against global financial crimes.
They address the notorious 1% statistic, the challenges of cross-sector collaboration and explore how seized asset recovery efforts can be improved within FATF guidelines, delving into the need for effective communication, the appointment of accountable figures, and the need for urgent reforms with broader strategies that extend beyond current standards.
Timestamps
1 | David’s background and FATF’s mandate
5 | What is the 1% stat and why is asset recovery challenging
12 | FATF’s renewed focus on asset recovery and creating a minimum standard
18 | Should the Public Sector leverage Private Sector companies to assist with seizures
22 | Improvement of Government resources towards fighting financial crime
28 | The real cost of financial crime and good examples of how to combat it
Resources Mentioned:
RUSI websiteFATF websiteFATF plenary highlights GLOBAL COALITION TO FIGHT FINANCIAL CRIME (GCFFC)Amendments to the FATF Standards to Strengthen Global Asset RecoveryAR Blog: FATF’s Trailblazing Asset Recovery StandardsAbout our Guest:
David Lewis (Managing Director and Global Head of AML Advisory at Kroll) and the former Executive Secretary of the Financial Action Task Force (FATF), the intergovernmental organization that sets standards for AML/CFT globally.
As a highly respected leader in the fight against financial crime, David has played a pivotal role in coordinating international efforts to combat money laundering money laundering, terrorism financing and weapons proliferation. He has been instrumental in the development and implementation of policies to identify and mitigate risks associated with financial crime.
Disclaimer
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
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In this inaugural episode of "Seize & Desist" host Aidan Larkin (Co-Founder & CEO of Asset Reality) presents a compelling perspective on the challenges and significance of asset recovery.
This field might fly under the radar of mainstream discussions, yet it has an enormous impact on societal funding for essential services like healthcare, education, and infrastructure. With less than 1% of the estimated trillions in illicit financial flows being recovered around the world, there is a pressing need to examine why such a crucial sector is failing and what can be done to enhance its effectiveness.
Asset Recovery is not just about arresting criminals and publishing sensational headlines, it is the intricate process of returning stolen wealth to victims and the public purse. Aidan Larkin skillfully deconstructs the complexities of the industry, stressing the alarming fact that crime does pay — and pays well for criminals, due to the vast amounts of unrecovered assets.
The episode delves into potential reasons behind the inefficient recovery rates, from a lack of understanding and the fear of appearing ignorant to an overemphasis on the initial seizure rather than the subsequent economic restitution.
Timestamps
01:00 | The global asset recovery sector is failing
03:00 | Less than 1% of global illicit financial flows are recovered
05:00 | Asset recovery affects victims and communities
09:00 | Asset recovery in the context of digital and crypto assets
11:00 | Aidan Larkin’s background and unique perspective on asset recovery
13:00 | FATF's new focus on asset recovery
About The Host/Guest:
Aidan Larkin is a prominent figure in the global asset recovery sector, boasting over 16 years of experience in the field.
With a professional background as a criminal tax investigator, he has a diverse history of working on the investigative side and managing seized assets. Aidan is the co-founder and CEO of Asset Reality, bringing a unique perspective to the industry given his personal experiences in Northern Ireland during the troubles and his involvement with community initiatives financed by proceeds of crime funding.
His international work with various government agencies equips him to offer an in-depth understanding of different jurisdictional approaches to asset recovery.
Resources Mentioned:
FATF and INTERPOL intensify global asset recoveryEstimating illicit financial flows resulting from drug trafficking and other transnational organized crimes (United Nations Office on Drugs and Crime - UNODC Research Report) Between 2 and 5% of global GDP is laundered each yearFraud is the most commonly experienced crime in the UK (National Crime Agency - NCA)Malaysia says it recovered $5m of stolen 1MDB assets over last 13 months (AL JAZEERA)Meet Jho Low, the fugitive 1MDB financier known as ‘The Asian Great Gatsby’ (Fortune.com)The Truth about Being the "Stupidest" in the Room (Simon Sinek, Video) Applications invited for Assets Recovery Community Scheme (ARCS) funding to prevent crime in communitiesFATF’s Asset Recovery Focus (FATF)Disclaimer:
Our podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed.
Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company.
Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.
