STR: Suspicious Transaction Report

Originally published 1 July 2022.

Kleptocracy is one of the foremost financial crimes of our time. The role of grassroots actors in holding governments and corrupt actors to account is vital, particularly when it comes to catching illicit funds before they disappear into the global financial system.

Host Alanna Putze is joined by CFCS colleagues Tom Keatinge and Maria Sofia Reiser to discuss a project that aims to strengthen the capabilities of investigative journalists and civil society in 'the first mile' of financial crime.

Originally published 17 June 2022.

Journalist and author Oliver Bullough delves into his latest book, Butler to the World, which reveals how Britain came to assume its role as the centre of the offshore economy.

Oliver joins CFCS's Tom Keatinge and Helena Wood to discuss how so many elements of modern Britain have been put at the service of the world's oligarchs and kleptocrats with disastrous global consequences, what this means within the context of Russia's war in Ukraine, and whether change is realistic.

The final episode explores a major global challenge that initially lacked a cohesive policy response and now poses an urgent threat. CFCS's Alanna Putze is joined by the Atlantic Council's Julia Friedlander and journalist Edward Lucas to explore the active financial measures that malign actors use to corrode trust in democracy. With Russia as the prime example, they ask if the world possess the policy leadership and strategic vision required to safeguard global democracy at this crucial moment.

The UN first placed North Korea under international sanctions 15 years ago. Yet despite continued provocations and clear evidence of violations, there have been no substantive changes to the sanctions regime for the past five years. Is it time to rethink our sanctions approach to North Korea? CFCS's Sasha Erskine and Aaron Arnold are joined by former UK Ambassador to South Korea Alastair Morgan to examine the evolution of North Korea sanctions, the current state of play, and what we might expect in the future.

If you've any follow-up questions for Sasha and Aaron, you can find their contact information on their profile pages on the RUSI website: rusi.org/cfcs

Countering the financing of weapons of mass destruction is an important component of global non-proliferation efforts. While the focus has largely been on North Korea, as well as Iran, countering proliferation financing (CPF) is likely to apply to other actors in the future. Are the measures put in place sufficiently future-proofed? CFCS's Wojciech Pawlus is joined by Jonathan Brewer of King's College London and RUSI's Darya Dolzikova to look at the origins of CPF policy and examine what might lie ahead.

It's hard to keep up with the pace of change in environmental, social and governance (ESG) policy. With a number of game-changing developments in the past year alone, there's no doubt that ESG is at the forefront of the agenda, for both corporates and the financial sector. RUSI's Alexandria Reid dives into this rapidly evolving world with James Ford of Mayer Brown. Together, they discuss lessons from the past 10 years of ESG policy, and what we might expect next.

Fraud is an age-old crime; one that has drastically evolved in recent years. Far from the small-scale individual acts or larger corporate offences of the past, organised volume fraud has now reached epidemic levels, posing a growing threat to the UK's national security and financial stability. CFCS's Kathryn Westmore is joined by Jonathan Holmes of PwC's Digital and Forensic Services Investigations Team, to explore how well we've adapted and how we can best stay ahead of the fraud threat.

An unscheduled episode, recorded as the tragic events in Ukraine unfold. It considers the central plank of the West's response to Russia's aggression – sanctions. Tom Keatinge is joined by RUSI Associate Fellows and legal experts Anna Bradshaw of Peters & Peters and Nick Turner of Steptoe & Johnson. They discuss the wider challenges related to sanctions and their use, what these mean in the context of the current crisis, and whether it is time to rethink our approach to sanctions.

Confiscating the proceeds of crime seems like an obvious way to deter illicit activity, yet asset recovery is all too often an afterthought in the global response to financial crime. Gretta Fenner of the Basel Institute on Governance joins CFCS's Maria Nizzero and Helena Wood to discuss why a smarter approach to asset recovery could be transformational in narrowing the global development gap and in apprehending corrupt actors.