Seize & Desist Asset Reality

“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 Summers
About 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.

“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 LinkedIn
About 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. 

“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. 

“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. 

“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 Standards
About 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. 

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, omis