This week, with some trepidation, we embark on an overview of some of the more esoteric elements of financial crime risk management. We attempt to explain the blockchain, cryptocurrencies like Bitcoin, and cryptography generally, in layman's terms.

As neither of us are subject matter experts in any of these fields, we are somewhat laying ourselves open to rebuttal and ridicule but we felt it was worth the risk.

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In this week's episode we talk about the glitch that was discovered in Deutsche Bank's transaction monitoring system (and a couple of other Deutsche Bank related news stories) as well as Graham's recent visit to Lithuania and their pitch to be a global centre for FinTechs (along with the fallout from the Troika Laundromat and much else).

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The one you've all been waiting for! A detailed explanation of SLPs, their history, construction and how they are used to launder money - plus a further explanation of a Scottish Limited Partnership complex structure to show how they are evolving in the light of continued public exposure.

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In this special episode we review and comment on the recent Global Witness update to its reports from last year on the effectiveness of the Companies House PSC regime.

For more see:Global Witness blog and link

Oh, and we also include an amusing update to our previous report on UK Limited Liability Partnerships.

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In an extended episode, we delve into the intricacies of UK LLPs and, using real examples, explain how the rules allow them to be constructed in a such a way as to hide ultimate ownership behind a series of entirely plausible, but geographically diverse entities.

And our old friend Ali Moulaye gets a mention (or two...).

Due to the complexities of the subject, there are supporting graphics on our website.

DISCLAIMER: There is no suggestion by us, explicit or implied, that any of the people or entities discussed in this or any other episode of "The Dark Money Files" is in any way connected to laundromat or other criminal activity. They are simply used as examples of how other actors might circumvent the rules.

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We begin our analysis of how legal entities, in locations which have transparent corporate registers can still be used to mask ultimate ownership and control while still providing a veneer of respectability.

In this first part we look at Limited Companies and their Directors, Shareholders and Persons with Significant Control, to see how each of these can look plausible but still need further investigation.

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In this first episode of season 2 we discuss Ali Moulaye, the man whose signature is at the base of Companies House account filings for a multiplicity of LLPs identified as being involved in a wide variety of laundromats. And it's quite a story!

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In a sensational final look at the Danske Bank affair, we analyse the whistleblower report and definitively link it to a UK LLP (along with a few others) a small Russian Bank with Igor Putin (cousin of Vladimir) on the board, the Deutsche Bank mirror trades, Alexander Perepilichnyy, Alexander Litvinenko, Ali Moulaye and a whole lot more.

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In 2013 Danske Bank executives started to examine,rather more critically, the lucrative bond sale business in Estonia. We look at the reporting and decision making process at the start of that journey and wonder whether, in hindsight, they might have chosen to have done things differently. We also discus the risks of doing business with unregulated intermediaries (HINT: They are very high!).

The ultimate outcome of those initial investigations is really rather surprising.

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Following the release of Phase 1 of the Forensic Risk Alliance report prepared for Swedbank, we take a detailed look at that it has uncovered and where we'd like Phase 2 to go.

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