Due Diligence Download

Download our free EDD report writing toolkit here - https://ddd-edd-toolkit.netlify.app/

Season 2 closes where it began — with piracy — but the story has changed completely. Sylwia and Amritha trace the money from a 2009 hijacking in the Indian Ocean through to today's headlines, where presidents and prime ministers are throwing the word "pirate" at each other in the Strait of Hormuz.

Sponsors:

We’re proudly independent — but we partner with companies who share our passion for smarter due diligence and investigations.

A Data Pro turns global data into actionable intelligence. For over 26 years, they’ve helped decision-makers in risk, compliance, and communications with tailored solutions across three core divisions:

• Risk Intelligence — strengthening compliance and KYC/AML programmes through due diligence, sanctions lists, UBO tracing, and PEP/SEP screening

• Media Intelligence — equipping PR, marketing, and executive teams with insights on reputation, crises, competitors, influencers, and trends

• Data Solutions — clean, structured data for automation and AI

With 500+ multilingual specialists across 80+ jurisdictions, A Data Pro catches risks before they catch up to you. Find out more at adata.pro

Metis Insights

Metis Insights is an independent risk intelligence and investigations firm specialising in human‑source‑led intelligence, strategic analysis, and in‑country investigations across complex and high‑risk markets.

Combining deep local access with analytical rigour, Metis helps clients uncover the people, networks, and dynamics that shape outcomes. From enhanced due diligence and complex investigations to strategic intelligence and ESG risk assessments, their work is defined by context, nuance and discretion. Find out more at www.metisinsights.co.uk

Resources:

http://news.bbc.co.uk/1/hi/8122858.stm

https://africa.cgtn.com/faces-of-africa-afweyne-big-mouth-and-the-somali-pirates-2/

https://time.com/article/2026/05/22/how-trump-s-war-with-iran-is-giving-somali-pirates-an-opening/

Has crypto really earned its reputation as the payment method of choice for drugs, arms and everything else illicit — or is the headline image overblown? In this episode, Amritha and Sylwia sit down with Isabella to look at the reality of crypto-enabled financial crime.

This is a slightly different episode for the season: rather than focusing on a single predicate offence, the conversation digs into the payment method itself — how crypto intersects with bribery and corruption, sanctions evasion, terrorist financing and ransomware, and when it's the heart of a scheme versus just a layering tool bolted onto a classic typology.

We also go into what a crypto investigation actually looks like, how it differs from fiat, where blockchain analytics hits its limits, and why you still need KYC, OSINT and human judgement alongside it.

Resources:

https://www.trmlabs.com/beacon-network

Sponsors

We're proudly independent — but we partner with companies who share our passion for smarter due diligence and investigations.

This episode is exclusively sponsored by TRM Labs, a leading blockchain intelligence company helping financial institutions, crypto businesses and public agencies detect, investigate and prevent crypto-related financial crime. TRM's platform powers the kind of on-chain tracing and investigation work we explore in this episode — turning complex blockchain activity into actionable intelligence. Find out more at: https://www.trmlabs.com/

Subscribe & Follow

Subscribe, leave a review, and share with anyone in risk, compliance, or investigations - or anyone who's ever insisted crypto is "totally untraceable."

Can AI actually do compliance tasks? Not in a demo, but in the messy reality of conflicts of interest, speak-up reports, third-party risk and investigation reviews?

In this episode, Sylwia and Amritha sit down with Sabela, Director of Compliance & Ethics at EQS Group, to unpack what EQS learned from putting the leading AI models through their paces.

Drawing on the EQS AI benchmark studies - 120 tasks across 10 core compliance areas, run twice in quick succession — Sabela shares a refreshingly hype-free view of where AI is genuinely ready, where it needs guardrails and where we shouldn't pretend the technology is mature yet. This is a candid conversation about real capability, real limits and what it all means for compliance teams.

Read the research behind this episode- The EQS AI Benchmark Report Vol. 2: AI Performance in Compliance & Ethics.. Download it free here: https://www.eqs.com/compliance-wpapers/eqs-ai-benchmark-report-vol-2/?utm_source=eqs_marketing&utm_medium=landing&utm_campaign=&utm_content=top-banner

Sponsors

We’re proudly independent — but we partner with companies who share our passion for smarter due diligence and investigations.

This episode is exclusively sponsored by EQS Group, a leading provider of compliance, ethics and integrity software — and the team behind the AI Benchmark Report Vol. 2 we explore in this episode. EQS put the latest frontier AI models through 120 real-world compliance tasks to see how they actually perform. Find out more at: https://www.eqs.com/

https://adata.pro/blog/ai-due-diligence-what-has-changed-and-what-works/?utm_source=DDD-podcast-notes&utm_id=When+AI+Meets+Financial+Crime+Intelligence+DDD

AI in due diligence isn't a new conversation but the ground keeps shifting underneath it, almost daily! In this episode, Sylwia and Amritha return to one of the defining questions of the industry: not whether to use AI, but how to use it responsibly, what it's actually doing to the information environment, and who's accountable when it goes wrong.

BONUS: Free EDD Report Writing Toolkit!

Grab it free here: https://ddd-edd-toolkit.netlify.app/

Sponsors

We’re proudly independent — but we partner with companies who share our passion for smarter due diligence and investigations.

This episode is exclusively sponsored by A Data Pro.

A Data Pro turns global data into actionable intelligence. For over 26 years, they’ve helped decision-makers in risk, compliance, and communications with tailored solutions across three core divisions:

• Risk Intelligence — strengthening compliance and KYC/AML programmes through due diligence, sanctions lists, UBO tracing, and PEP/SEP screening

• Media Intelligence — equipping PR, marketing, and executive teams with insights on reputation, crises, competitors, influencers, and trends

• Data Solutions — clean, structured data for automation and AI

With 500+ multilingual specialists across 80+ jurisdictions, A Data Pro catches risks before they catch up to you. Find out more at adata.pro

Read their companion piece to this episode: When AI Meets Financial Crime Intelligence: What Has Changed, What Is Broken, and What Good Looks Like Now

Modern slavery is one of the most under-enforced areas of corporate compliance and the legal landscape is moving fast. In this episode, Sylwia and Amritha are joined by two leading practitioners to unpack what companies are actually required to do, where the frameworks fall short, and why a clean audit is no longer proof of a clean supply chain.

S2E8 brings in two specialist guests for a deep dive into modern slavery — picking up where the trafficking episode left off.

Lise Smit is a Business and Human Rights Adviser at Norton Rose Fulbright LLP, advising on human rights due diligence, supply chain risk management, and sustainability reporting under the UN Guiding Principles. She led the European Commission study that formed the basis for the EU CSDDD.

Natasha Martin is Director of Product at Ethixbase360, with close to 20 years in regulatory technology spanning modern slavery, human rights, AML, and counter-terrorist financing, specialising in translating complex regulatory requirements into practical, technology-enabled solutions.

Together, they cover the key legislative frameworks — UK Modern Slavery Act, EU CSDDD, EU Forced Labour Regulation, and the US UFLPA — with a focus on what's working, what isn't, and what's still missing. The conversation moves through supply chain mapping beyond Tier 1, the limits of social audits, emerging technology including AI and satellite imagery, and how HRDD findings escalate into financial crime referrals.

Sponsors

We’re proudly independent - but we partner with companies who share our passion for smarter due diligence and investigations.

This episode is exclusively sponsored by Ethixbase360: Confident decisions, powered by people and platform

Market-leading third-party risk management platform combining smart automation, expert-led due diligence, and responsive support to deliver a clear, connected view of global third-party risk.

Deploy a third-party risk management program that grows with your organization – from a single function to enterprise-wide coverage.

Empower faster, smarter decisions with the data and insights trusted by global leaders.

Gain a unified, real-time view of your third-party risk landscape — with built-in insight, and audit readiness.

Maximize efficiency and performance with dedicated, expert support designed to save time, reduce costs, and strengthen your program.

Learn more at ethixbase360.com.

Subscribe & Follow

Subscribe, leave a review, and share with anyone in risk, compliance or investigations — or anyone who thinks that a clean audit means a clean conscience.

In this episode, Sylwia and Amritha examine trafficking in human beings as a predicate offence — what it actually is, how its financial footprints appear in banking and payments data, and why it concerns everyone from transaction monitoring analysts to supply chain compliance teams.

You'll learn:

why trafficking is often financially detectable before it is criminally provable — and why that makes financial institutions the front line, not a supporting act

what Suspicious Activity Reports are, why they matter, and why in practice the system is both essential and badly broken

the difference between what AML teams are expected to do (spot and report) and what corporate compliance teams are expected to do (spot, investigate, and actually fix it)

ten recurring financial typologies — from funnel accounts and smurfing to debt bondage repayment patterns and third-party wage control — that regulators associate with trafficking and exploitation

how to translate those typologies into transaction monitoring scenarios without crossing into the trap of thinking you are identifying victims rather than flagging suspicious financial behaviour

why the Libya slave trade, the Yemen trafficking camps, and the Dyson supply chain case all point to the same thing: the money moves before the crime is proven, and following it is how investigators make a difference

Resources & links:

https://www.unodc.org/unodc/en/data-and-analysis/glotip.html

https://www.ohchr.org/en/professionalinterest/pages/protocoltraffickinginpersons.aspx

https://washingtoncentre.org/rico-and-rescue-how-legal-tools-can-disrupt-human-trafficking-networks/

Cases & Examples

https://www.hrw.org/report/2014/05/25/yemens-torture-camps/abuse-migrants-human-traffickers-climate-impunity

https://www.theguardian.com/law/2026/jan/22/uae-ordered-to-pay-260000-to-trafficking-victim-exploited-by-diplomat-in-london

https://www.amnesty.org/en/latest/news/2025/05/saudi-arabia-migrant-domestic-workers-face-severe-exploitation-racism-and-exclusion-from-labour-protections/

https://www.bbc.co.uk/news/uk-politics-65987378

https://www.bbc.co.uk/news/articles/cj6pdxj1dw1o

https://www.theguardian.com/world/2023/jun/13/i-trusted-him-human-trafficking-surges-in-cyclone-hit-east-india

https://www.icij.org/investigations/trafficking-inc/about-trafficking-inc/

https://www.bbc.co.uk/news/uk-england-essex-55765213

https://www.ihrb.org/latest/the-dyson-case-a-landmark-moment-for-business-and-human-rights

Sponsors: We’re proudly independent but we partner with companies who share our passion for smarter due diligence and investigations.

Inquirify is a global risk intelligence partner providing due diligence, OSINT, GSOC and investigative support across complex jurisdictions. Our philosophy is simple: Verify before you trust. We provide clear, actionable insights to protect your business and support growth. Find out more at: https://www.inquirify.net

JAM Insights delivers human‑driven intelligence you can’t get from screens alone. When conventional OSINT and AI fall short, JAM taps into trusted local sources, on‑the‑ground research, and deep industry assessments to identify hidden risks, reputational red flags, and jurisdiction‑specific issues that matter for high‑stakes due diligence, compliance, and strategic decision‑making. With tailored insights spanning key regions and strict confidentiality, JAM helps clients see what others overlook and act with confidence Find out more:.https://www.jam-insights.com

Subscribe & Follow

Subscribe, leave a review, and share with anyone in risk, compliance or investigations — or anyone who thinks human trafficking is someone else's problem to solve.

In this episode, Sylwia and Amritha examine bribery and corruption as predicate offences — the crimes that generate dirty money long before a suspicious transaction alert fires or a sanctions designation lands. They explore why understanding the law is only the starting point, and why geopolitics, local practice, and cultural context are just as essential for anyone working in AML or corporate compliance.

You'll learn:

why bribery is the only predicate offence with its own dedicated international treaty architecture — and why it made corporate "failure to prevent" a criminal matter before any other crime did

how the Unaoil case illustrates the gap between who pays fines and who actually recovers the proceeds of crime

what Odebrecht — a Brazilian construction giant that created an entire internal division dedicated to managing bribes across twelve countries — reveals about industrialised corporate corruption and the extraterritorial reach of US law

how the Adani case shows what happens when political proximity, offshore structures, and state contracts converge — and why the FCPA pause matters most in precisely these politically sensitive situations

why AML and ABC compliance teams are looking at the same risk from opposite ends, and why that gap is exactly where schemes live

the three Cs — conduct, connections, and context — and what red flags look like in practice

what the UK's December 2025 Anti-Corruption Strategy and new Five Eyes indicators guidance mean for transaction monitoring and third-party due diligence

Resources & links:

https://www.whitehouse.gov/presidential-actions/2025/02/pausing-foreign-corrupt-practices-act-enforcement-to-further-american-economic-and-national-security/

https://www.occrp.org/en/news/us-ditches-key-anti-bribery-law-critics-warn-of-global-corruption-surge

https://www.occrp.org/en/news/german-ex-mp-convicted-in-azerbaijan-bribery-scandal

https://www.politico.eu/article/belgian-authorities-mixed-up-eu-lawmaker-with-namesake-huawei-bribery-probe/

https://eucrim.eu/news/high-risk-areas-of-corruption-in-the-eu-in-depth-report-highlights-six-vulnerable-sectors/

https://www.mofo.com/resources/insights/260114-top-10-international-anti-corruption-developments-for-december-2025

https://www.theguardian.com/us-news/2026/feb/02/trump-uae-crypto-deal

https://www.aljazeera.com/economy/2026/5/18/us-drops-fraud-charges-after-billionaire-adani-pledges-10bn-investment

https://www.bbc.co.uk/news/business-39194395

https://whistleblowerjustice.net/blog/birth-of-the-fcpa-this-bribery-is-positively-bananas/

Sponsors:

We're proudly independent but we partner with companies who share our passion for smarter due diligence and investigations.

The Search Group - Every Decision Carries Risk. Managing it requires more than surface-level checks. At The Search Group (TSG), we deliver specialist due diligence and risk intelligence through a global network of expert hubs, combining deep local insight with global perspective. For over 15 years we have supported clients across 100+ jurisdictions with Compliance reviews, Pre-transaction due diligence, Investigations and Ethics advisory. Our tailored research transforms complexity into clarity and risk into opportunity – empowering confident, informed decisions.

Discover how TSG can support your next big move at www.thesearchgroup.com.

Subscribe & Follow

Subscribe, leave a review, and share with anyone in risk, compliance or investigations — or anyone who thinks bribery is just an envelope under a table.

In this episode, Sylwia and Amritha examine terrorist financing — how money moves to support terrorist organisations, why it differs from money laundering, and how ordinary companies can become caught in the middle.

You’ll learn:

why terrorist financing is about purpose, not just source of funds,

how clean money can become criminal depending on where it goes

why terrorist financing and money laundering are linked but fundamentally different,

how charities, informal value transfer systems, trade and digital payments can be misused,

what the Lafarge, Chiquita and Ericsson cases reveal about corporate exposure,

what investigators, AML teams and due diligence professionals should look for when assessing terrorist financing risk.

Resources & links:

FATF – Terrorist financing: https://www.fatf-gafi.org/en/topics/terrorist-financing.html

UN Convention for the Suppression of the Financing of Terrorism: https://treaties.un.org/doc/db/Terrorism/english-18-11.pdf

DOJ Lafarge guilty plea: https://www.justice.gov/opa/pr/lafarge-pleads-guilty-conspiring-provide-material-support-foreign-terrorist-organizations

ICIJ Ericsson Files: https://www.icij.org/investigations/ericsson-list/

DOJ Chiquita case: https://www.justice.gov/archive/opa/pr/2007/March/07_nsd_161.html

https://www.corporatecomplianceinsights.com/fcpa-changes-terrorist-designations-cartels-latin-america/

https://edition.cnn.com/2010/WORLD/americas/02/12/colombia.chiquita.farc/?hpt=T2

https://www.ecchr.eu/en/case/lafarge-in-syria-accusations-of-complicity-in-grave-human-rights-violations/

https://www.bbc.co.uk/news/articles/crl1441816po

Sponsors:

We’re proudly independent but we partner with companies who share our passion for smarter due diligence and investigations.

Inquirify is a global risk intelligence partner providing due diligence, OSINT, GSOC and investigative support across complex jurisdictions. Our philosophy is simple: Verify before you trust. We provide clear, actionable insights to protect your business and support growth. Find out more at: https://www.inquirify.net

Subscribe & Follow

Subscribe, leave a review, and share with anyone in risk, compliance or investigations or anyone who thinks terrorist financing is a remote problem.

⚠️ Content Warning:

This episode discusses child sexual abuse material (CSAM), online child sexual exploitation, trafficking, and related investigations. Some listeners may find the subject matter distressing. Please take care while listening.

In one of the most difficult — and important — episodes we’ve produced, Amritha and Sylwia examine the financial systems, investigative methods, and compliance failures connected to child sexual abuse material (CSAM) and online child sexual exploitation.

The episode begins with the takedown of Welcome to Video, once the world’s largest known dark-web CSAM marketplace, uncovered after IRS investigators followed suspicious Bitcoin flows. From blockchain forensics and crypto tracing to dark-web infrastructure and live-streamed abuse, the episode explores how financial intelligence increasingly sits at the centre of these investigations.

You’ll learn:

why the term “CSAM” matters,

how online child exploitation operates financially,

the role of crypto and payment systems and the rise of AI-generated abuse material,

investigative techniques used by law enforcement,

and what the Jeffrey Epstein banking failures reveal about culture, ethics and compliance.

Resources & links:

BBC World of Secrets (The darkest web): https://www.bbc.co.uk/sounds/play/w3ct8yw5

https://jacobin.com/2026/02/fbi-epstein-kuchner-whistleblower-silenced

https://www.acams.org/en/news/ex-aml-officer-claims-deutsche-fired-her-after-she-flagged-epstein-transactions

https://www.bbc.co.uk/news/world-50073092

https://www.icmec.org/press/new-report-examines-cryptocurrencys-role-in-online-child-sexual-exploitation/

https://www.ofcom.org.uk/online-safety/protecting-children/child-sexual-abuse-material-csam-results-from-a-survey-of-perpetrators

https://eucrim.eu/news/operation-alice-exposes-fraudulent-csam-platform/

https://www.europol.europa.eu/media-press/newsroom/news/global-crackdown-kidflix-major-child-sexual-exploitation-platform-almost-two-million-users

If you or someone you know needs support or wants to report child exploitation material, reporting resources include the NCMEC CyberTipline (US), the Internet Watch Foundation (UK), and INHOPE’s global hotline network.

Sponsors:

We’re proudly independent but we partner with companies who share our passion for smarter due diligence and investigations.

JAM Insights delivers human‑driven intelligence you can’t get from screens alone. When conventional OSINT and AI fall short, JAM taps into trusted local sources, on‑the‑ground research, and deep industry assessments to identify hidden risks, reputational red flags, and jurisdiction‑specific issues that matter for high‑stakes due diligence, compliance, and strategic decision‑making. With tailored insights spanning key regions and strict confidentiality, JAM helps clients see what others overlook and act with confidence Find out more: https://www.jam-insights.com

Inquirify is a global risk intelligence partner providing due diligence, OSINT, GSOC and investigative support across complex jurisdictions.

Our philosophy is simple: Verify before you trust. We provide clear, actionable insights to protect your business and support growth. Find out more at Inquirify.net

Subscribe & Follow

Subscribe, leave a review, and share with anyone in risk, compliance or investigations. The more people having these conversations, the harder these networks become to ignore.

In this episode of Due Diligence Download, Sylwia and Amritha sit down with Becky Holmes, author of Keanu Reeves Is Not in Love With You, to unpack the reality behind romance fraud — one of the most emotionally manipulative and misunderstood financial crimes out there.

What starts as funny (and often absurd) interactions with celebrity impersonators quickly reveals something much darker: a global, organised system of deception that blends psychology, technology, and financial crime.

You’ll learn:

Why romance fraud is not a victimless crime — and why victim stereotypes are dangerously wrong

How Becky went from “bored in lockdown” to uncovering repeatable scam scripts, tactics, and patterns

The evolution from traditional romance scams to “pig butchering” — where emotional grooming turns into large-scale investment fraud

The growing role of AI in fraud, from synthetic personas to scaling deception faster than ever

The uncomfortable truth about scam farms, organised crime, and links to human trafficking

Where this all intersects with money laundering, mule activity, and the financial system

This episode is a reminder that romance fraud isn’t just about fake relationships — it’s a gateway crime that feeds wider criminal networks and exposes serious gaps in how we detect and prevent financial crime.

Author profile:

Becky Holmes is an author, journalist, speaker and the creator of the popular Twitter/X account @deathtospinach, which exposes fraudsters in humorous ways.

In 2020, having been on the receiving end of an annoying number of direct messages from online romance scammers, Becky started to enjoy wasting their time and publicly ‘outing’ their accounts. Six years later she is now a well-known expert on romance fraud, called upon by both professionals and the media. Her first book, Keanu Reeves Is Not in Love with You, received outstanding reviews from critics, journalists, counter-fraud professionals, comedians and everyday readers. Her second book, The Future of Fraud, which examines AI, cryptocurrency, social media and the dark web, hit the shelves in April 2026. She also sometimes writes for The Times about fraud.

Becky uses humorous examples of her conversations with online fraudsters to shine a light on the darkest corners of the world of romance fraud. Examining the similarities between romance fraud and domestic abuse, she talks about coercive control and confirmation bias, gaslighting and shame. She also reveals the even lesser-known sides to this crime: human trafficking, voodoo and scammer pyramid schemes.

No other woman has had so many online romances – from Keanu Reeves to Brad Pitt to Prince William and she is a firm favourite with brave US peacekeeping soldiers and oil rig workers who desperately need iTunes vouchers or Amazon gift cards.

Resources & Links:

https://www.linkedin.com/in/erinnordbywest/

https://www.linkedin.com/in/anna-rowe-95323753/

https://www.theguardian.com/global-development/2026/feb/24/destitute-survivors-of-south-east-asias-cyberscam-farms-an-international-crisis

https://www.bbc.co.uk/news/articles/c5yr7j18edjo

https://news.un.org/en/story/2026/03/1167144

Becky’s Books:

https://www.amazon.co.uk/Keanu-Reeves-Not-Love-You/dp/1789651638

https://www.amazon.co.uk/Future-Fraud-FUTURES-Book-11-ebook/dp/B0GK2RJG9J?ref_=ast_author_dp&th=1&psc=1

Subscribe, leave a review, and share with anyone in risk, compliance, or investigations and share with anyone who thinks they’d never fall for it.