In our final conversation of the year, our SVP of Client Relations, Joanna Summers, sits down with Stefan Cassella, a former federal prosecutor with more than three decades of experience in international asset forfeiture who has authored over 50 law review articles and played a pivotal role in shaping and advancing federal asset forfeiture laws in the US and abroad.

In this episode, Joanna and Stef explore the growing role of cryptocurrency in criminal investigations and asset forfeiture, highlighting its use in money laundering, investment fraud, and sanctions evasion. 

Together, they unpack the complexities of high-profile cases like Bitcoin Fog, the challenges posed by mixers and decentralised exchanges, and the significance of recent court rulings in legitimising blockchain analysis tools. 

Stefan also shares practical advice for law enforcement and attorneys navigating the crypto landscape, highlighting the need for enhanced training and resources to address these evolving threats and the critical role of non-conviction-based asset forfeiture, or civil asset forfeiture, as a key law enforcement tool.

Timestamps

02:00 - Stef’s Background

03:00 - The Growing Role of Cryptocurrency in Asset Forfeiture

07:00 - Understanding Civil Asset Forfeiture

11:00 - Regulatory Challenges and the Future of Crypto Laws

14:30 - Complexities of Crypto Mixers and Decentralized Exchanges

19:30 - The Legitimacy of Blockchain Analysis Tools in Court

23:00 - Practical Advice for Law Enforcement and Attorneys in Crypto Forfeiture

24:00 - Insights from Stefan’s Money Laundering and Forfeiture Digest

26:00 - Key Challenges in Crypto Asset Forfeiture

Resources Mentioned

• https://www.trmlabs.com/tackling-crypto-crime-2023-survey-of-law-enforcement 
• https://assetforfeiturelaw.us/  
• https://www.fatf-gafi.org/en/publications/Fatfrecommendations/Bestpracticesonconfiscationrecommendations4and38andaframeworkforongoingworkonassetrecovery.html 
• https://sherwood.news/crypto/momentum-builds-for-a-strategic-national-bitcoin-reserve-but-what-does-that/ 
• https://academy.assetreality.com/student/page/149456-virtual-asset-transfer-fundamentals 

About our Guest:

Stefan Cassella is a former federal prosecutor with more than three decades of experience in international asset forfeiture who has authored over 50 law review articles and played a pivotal role in shaping and advancing federal asset forfeiture laws in the USA and abroad.

Today, as the founder of Asset Forfeiture Law, he continues to provide invaluable guidance to law enforcement, private law firms, and financial institutions by providing expert witness services, training, and legal guidance.

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. 

In this special episode of Seize & Desist, our host, Aidan Larkin, sits down with blockchain intelligence specialist, author and Asset Reality co-founder Nick Furneaux for a behind-the-scenes look at his second book, ‘There’s No Such Thing As Crypto Crime’, and the challenges of writing it over the last two years while balancing work, family, and building a house.

Nick shares his journey from leaving school at 16 with no qualifications to becoming one of the world’s foremost authorities in crypto investigations, having analyzed over $20 billion worth of crypto-related crime and trained thousands of investigators globally.

Aidan and Nick also discuss the growing challenges for law enforcement, the role of AI in fighting scams, the rise of organised crypto crime, and why education and better training are essential for tackling the evolving world of cryptocurrency.

Timestamps

02:00 - Nick’s background

06:00 - Nick’s first experience with crypto

14:00 - Lessons from Yap Island: How Public Ledgers Work

16:00 - Why investigators must understand crypto

18:00 - Why so many scams use cryptocurrency

25:00 - Understanding the appeal of Bitcoin ATMs

33:00 - The challenges presented by AI

38:30 - Building a future of accessible crypto education

Resources Mentioned

• There's No Such Thing as Crypto Crime: An Investigative Handbook
• Investigating Cryptocurrencies: Amazon.co.uk 
• The world's first crypto auction: Asset Reality's origin story 
• Bitcoin: A Peer-to-Peer Electronic Cash System 
• Sweden pays drug dealer £1m after seizing his Bitcoin 
• Operation Shamrock
• Billion-dollar cyberfraud industry expands in Southeast Asia as criminals adopt new technologies
• https://www.linkedin.com/posts/aidan-larkin-29810781_bitcoinatm-moneylaundering-activity-7259916571886694400-AUpI/   
• TRON, Tether, and TRM Labs Establish First-Ever Private Sector Financial Crime Unit to Combat Crypto Crime | TRM Insights
• Virtual Asset Transfer Fundamentals | Asset Reality Academy  

About our Guest

Nick Furneaux is a leading blockchain intelligence specialist with over 20 years of experience in computer security and forensics. He is the author of ‘Investigating Cryptocurrencies’ (2018) and ‘There’s No Such Thing As Crypto Crime’ (2024), the only books focused on investigating crypto-related criminal activity. Nick also serves as a Blockchain Intelligence Expert at TRM Labs and is the co-founder of Asset Reality.

Over the course of his career, Nick has contributed to high-profile investigations in fraud, murder, terrorism, and child protection, focusing on live data acquisition, volatile data analysis, and the role of cryptocurrency in criminal activity.

A sought-after speaker at global conferences such as SOCEX and ACFE, Nick regularly provides training to governments, law enforcement, and corporations worldwide on advanced forensic techniques.

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.

“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 Management
• Digital Asset Brokers: A Complete Guide to US Tax Compliance - Taxbit  

About 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. 

“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) :: Justia
• Man indicted on money laundering, marijuana charges | Wyoming | gillettenewsrecord.com
• Colorado, Wyoming restaurants accused of laundering drug money (denverpost.com)
• UNODC Factsheet: Money-laundering and related illicit financial activities 

About 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. 

“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 - Bloomberg
• Czech police turn seized Ferrari into patrol car | Czech Republic | The Guardian
• Why 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. 

“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)
• Moonberg
• FATF’s report on global implementation of Recommendation 15
• Seize & Desist E2 with FATF’s former Executive Secretary David Lewis
• Asset Reality supports the creation of The Seychelles first asset management unit (AMU)
• OneCoin Defendant Granted Bail pending Appeal | Coinpaper
• UNODC Report: Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia: A Hidden and Accelerating Threat

About 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. 

“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/3VYIwGd 

About 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.

“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 Report 

About 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. 

“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 Shamrock
• Erin West and Pig Butchering on Seize & Desist
• US Secret Service: Combating the Illicit Use of Digital Assets

About 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. 

“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 Briefing
• Elliptic’s Blog
• RUSI's Center for Financial Crime and Security Studies

About 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.