Seize & Desist

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Sep 2026

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Welcome to Seize & Desist - the first podcast to explore the fascinating and complex world of seized assets. In this show, Asset Reality co-founder and CEO Aidan Larkin will be joined by some of the industry’s most influential and renowned experts to discuss their perspectives on the latest headlines, trends and challenges shaping the future of global asset recovery. They’ll explore how asset recovery impacts individuals and organisations alike and how it's evolving to keep pace with emerging technological advancements like cryptocurrencies, NFTs and other virtual assets. Whether you're new to the world of seized asset recovery or a seasoned practitioner, join us inside the world of asset recovery and uncover the stories shaping its future. Subscribe to be the first to hear new episodes of Seize & Desist. Connect with Asset Reality on social media: LinkedIn: https://www.linkedin.com/company/asset-reality/ Twitter (X): https://twitter.com/asset_reality Stay up-to-date with the latest industry developments by reading our blog: https://www.assetreality.com/blog Connect with our host Aidan Larkin on social media: LinkedIn: https://www.linkedin.com/in/aidan-larkin-29810781/ Twitter (X): https://twitter.com/AidanJLarkin Seize & Desist is for informational purposes only and is 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.

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October 26, 202651 min

Ep. 39: Sanctions, Crypto and the Enforcement Gap

Jason Sandoval speaks with Dr Jessica Davis, former analyst for FINTRAC and the Center for Strategic and International Studies (CSIS), about what happens between spotting illicit crypto and actually seizing it. Drawing on her years inside Canadian intelligence, Jessica explains where cases stall after detection, why the money only tells part of the story, and what a win looks like when crypto can move in minutes. ⏱️ Timestamps 05:15 – watching versus seizing 09:50 – three state playbooks for crypto 16:30 – how criminal liquidity helped states 18:40 – FINTRAC’s mandate and OTC cash-out desks 31:45 – financial intelligence and intent 40:50 – what counterterrorist financing achieves 44:30 – timely disruption and the speed of money 👤 About Our Guest Dr Jessica Davis is President and Principal Consultant at Insight Threat Intelligence, researching how Iran, Russia, North Korea, China and Venezuela use crypto to evade sanctions. She spent 17 years in Canadian security and intelligence, including at FINTRAC and as a threat financing analyst at CSIS, and is the author of Illicit Money. 🔑 Key Takeaways Watching and Seizing Work Together Every disruption displaces a network, and following what comes next reveals where it goes. Detection Is Not the Bottleneck Suspicious crypto activity is often flagged, but without dedicated investigators on the receiving end, disclosures rarely become seizures. Integrate the Financial Investigation The money only makes sense alongside the human and technical intelligence, not in a parallel workstream. Money Reveals Intent Financial intelligence can distinguish between people who plan to act and those who only talk. Smaller Flows Are Real Wins Reducing the money available for terrorism and sanctions evasion is a success in its own right. 📚 Resources Mentioned Jessica Davis on LinkedIn: https://www.linkedin.com/in/jmdottawa Insight Threat Intelligence: https://www.insightthreatintel.com Illicit Money: Financing Terrorism in the Twenty-First Century by Jessica Davis: https://amzn.eu/d/0feNbpsL 📬 Stay Connected If you found this episode useful, share it with your asset recovery colleagues, subscribe to Seize & Desist wherever you listen and connect with Asset Reality on LinkedIn to be the first to hear about new episodes, events and resources. ⚠️ 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 any decisions on the topics being 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.

September 24, 202652 min

Ep 38: Inside the Additional Protocol to the Warsaw Convention

Jill Thomas speaks with Cornel Calinescu, chair of the Council of Europe committee that negotiated the new Additional Protocol to the Warsaw Convention. They discuss who writes asset recovery standards and what they mean for front-line practitioners. Cornel takes us inside the Strasbourg negotiations, where 41 jurisdictions turned a small protocol into more than 40 technical articles. He explains how an open treaty creates a common language: definitions for crypto assets and VASPs, broader confiscation types, standard forms for seizing orders, and post-conviction tracing. They also cover value as the measurement unit of asset recovery, interlocutory sales, and why statistics are still missing. Timestamps 07:00 – Asset recovery over the last 20 years 13:15 – the Warsaw Convention and the 1% problem 19:30 – The Strasbourg negotiations 24:15 – An open treaty with a common language 29:00 – Crypto, confiscation types and standard forms 37:00 – Value as a measurement unit 40:45 – Interlocutory sales and ANABI 45:15 – Cornel's magic wand: changing the mindset About Our Guest Cornel Calinescu is an asset recovery consultant and chair of the Council of Europe committee on the Additional Protocol to the Warsaw Convention, elected by the 41 jurisdictions taking part. Over 26 years at Romania's Ministry of Justice, he established the country's first asset recovery office and led its consolidation into ANABI. He is a long-standing member of CARIN. Key Takeaways Asset Recovery Needs One Language The protocol defines crypto assets, VASPs and confiscation types so every party means the same thing. The Protocol Reaches Beyond Europe As an open treaty, jurisdictions outside the Council of Europe can use adopt instrument. Value Is the Measurement Unit Only tracking value from crime to disposal shows whether a case met its target. Seize Assets, Not Paper Value-based orders must be backed by tracing, seizing and managing real assets. Speed Is Built Into the Process Standard forms replace translated, stamped files when crypto moves in a click. Resources Mentioned Cornel Calinescu on LinkedIn Council of Europe Warsaw Convention Additional Protocol to the Warsaw Convention EU Directive on Asset Recovery and Confiscation FATF Asset Recovery Guidance Stay Connected If you found this episode useful, make sure you: Subscribe to Seize & Desist wherever you listen Follow Asset Reality on LinkedIn for updates, resources, and future episodes Share this episode with colleagues working in asset recovery, investigations, or 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 any decisions on the topics being 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.

August 25, 202651 min

Ep 37: From Wallet to Warrant: The Cases Rewriting Crypto Recovery

Jason Sandoval speaks with Jonathan Benton, former Head of the UK's Int. Corruption Unit at the National Crime Agency and now CEO and Founder of Intelligent Sanctuary, about the gap between criminal efficiency and institutional deliberation, and what it takes to close it in digital asset recovery. They discuss how immutable on-chain markers are used to identify wallet holders and support compliance with FATF's recommendations, as well as the legal questions being tested in court cases like Tulip, D'Aloia and Jones. Seize & Desist speaks to practitioners across asset recovery, investigators, policymakers and people building tools in the field. No guest pays to appear, and nothing mentioned, including any tools or technology discussed, is endorsed or commercially connected to Asset Reality. ⏱️ Timestamps 01:30 – Jonathan’s years in law enforcement 14:45 – marking stolen crypto to identify wallet holders 19:00 – on-chain movement vs wallet attribution 28:45 – legal questions raised by Tulip, D'Aloia and Jones 33:45 – on-chain marking and FATF compliance 45:00 – building the International Anti-Corruption Coordination Centre 👤 About Our Guest Jonathan Benton is CEO and Founder of Intelligent Sanctuary. He spent 30 years in UK law enforcement as a Detective Superintendent and the Head of the NCA's International Corruption Unit, leading some of Britain’s most complex corruption cases, including the Ibori case, the OPL 245 oil block scandal, and the case against the former Nigerian petroleum minister, as well as designing the International Anti-Corruption Coordination Centre. 🔑 Key Takeaways Agility Is the Real Gap Criminals move faster than institutions because nobody makes them fill out a form first. Procurement and policy cycles lag years behind criminal adoption of new tools. On-Chain Visibility Isn't Attribution Standard blockchain analytics show what happened on-chain, not who controls the wallet behind it. Closing that gap is what makes recovery possible. Immutable Markers Turn Flags Into Evidence A wallet marked with a police reference number, visible on any blockchain explorer and removable only by investigators, gives exchanges something concrete to act on. Courts Are Setting the Rules Case by Case Tulip, D'Aloia and Jones are testing a different legal questions, from exchange liability to service by NFT, shaping how digital asset recovery works in practice. 📚 Resources Mentioned Jonathan Benton on LinkedIn: https://www.linkedin.com/in/jonathanbenton Intelligent Sanctuary: https://isanctuary.io Cambridge Int. Symposium on Economic Crime: https://www.crimesymposium.org 📬 Stay Connected If you found this episode useful, make sure you: Subscribe wherever you listen Follow Asset Reality on LinkedIn for updates on future episodes Share this episode with your colleagues working in asset recovery, investigations, or 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 any decisions on the topics being 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.

July 31, 202645 min

Ep 36: Beyond the Figures: Measuring What Matters in Asset Recovery

What happens to a seized mafia asset after the headlines fade? Dr Amber Phillips, Senior Lecturer in Criminology at UWE Bristol, has spent her career chasing that answer, starting with fieldwork in Calabria alongside anti-mafia organisations working to strip the 'Ndrangheta of its assets and its grip on local communities. She joins Jason Sandoval to unpack her 'Beyond the Figures' research with financial investigators across England and Wales and the gap between headline recoveries and what practitioners count as success. Amber argues for a fifth 'D', Destination, alongside disruption, disentitlement and deterrence, and previews her new NCA/Home Office study, funded through the Asset Recovery Incentivisation Scheme (ARIS), on whether asset recovery genuinely deters crime. ⏱️ Timestamps 02:00 – Amber's route into asset recovery via Calabria 08:45 – how mafia power works and what asset recovery undermines 14:00 – the GOEL social reuse model in Calabria 17:50 – proposing a fifth D: destination as a measure of success 21:00 – Beyond the Figures 29:45 – how ARIS funding actually works 👤 About Our Guest Dr Amber Phillips is a Senior Lecturer in Criminology at UWE Bristol, specialising in organised and economic crime. Her career began in Calabria with anti-mafia organisations and she now leads a new NCA/Home Office study examining whether asset recovery genuinely deters crime. 🔑 Key Takeaways Numbers Do Not Tell the Story Amber's research with financial investigators found headline figures often miss the disruption and investigative quality practitioners value most. Destination Deserves Its Own D Amber proposes adding Destination to the existing framework of disruption, disentitlement, deterrence and detection. Low Value Orders Can Outperform High Value Ones A small seizure from an early-stage offender can disrupt a criminal career as effectively as a six-figure one further down the line. ARIS Funding Shapes Investigator Behaviour How ARIS returns are split between confiscation and forfeiture orders can push investigators toward the more lucrative route, not the more powerful one. 📚 Resources Mentioned Dr Amber Phillips on LinkedIn Bristol247 on the NCA/Home Office study Seize & Desist E32 with Sal Melki, NCA Seize & Desist E35 with Oliver Bullough 📬 Stay Connected If you found this episode useful, make sure you: Subscribe to Seize & Desist on Apple Podcasts, Spotify, or wherever you listen Follow Asset Reality on LinkedIn and Twitter/X for updates, resources, and future episodes Share this episode with colleagues working in asset recovery, investigations, or 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 any decisions on the topics being 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.

June 30, 202646 min

Ep.35: Dirty Money Wins with Oliver Bullough and Jason Sandoval

Oliver Bullough has written three books on how dirty money moves around the world. His single biggest finding is so low-tech it almost sounds like a joke. Jason Sandoval, former DEA special agent and Asset Reality’s Head of European Operations, spent thirty years chasing the same problem. One investigated it, the other wrote about it. Together, they unpack why the global system for tackling money laundering is not working and what it would take to build something that does. ⏱️ Timestamps 02:30 – Money laundering as a meta-crime 13:00 – Carousel fraud and what a mission-led response looks like 24:00 – High-denomination banknotes and who is actually using them 29:30 – Operation Destabilise and cash-for-crypto 35:00 – Political will vs operational realities 40:10 – Asset recovery as a fourteen-point swing 42:20 – Oliver’s prescription 👤 About Our Guest Oliver Bullough is an award-winning journalist and author of Moneyland, Butler to the World, and Everybody Loves Our Dollars. He has spent his career mapping how dirty money moves globally, writing for The Guardian, The New York Times, GQ, and The Economist. This is his second appearance on Seize and Desist. 🔑 Key Takeaways Criminals Go Where Defences Are Weakest: As banks tightened controls, criminal wealth moved to crypto and trade finance, which remain vastly under-regulated. Carousel Fraud Shows What Works: The UK’s near-complete defeat of carousel fraud shows what happens when intelligence, law enforcement and legislation pull together with a shared mission. High-denomination Banknotes Undermine Everything: Fewer than 15% of US transactions are now done in cash, yet demand for $100 bills keeps rising. Central banks are printing them without asking where the demand is coming from. Asset Recovery Is a Fourteen-Point Swing: Taking assets from criminals degrades their capability and improves law enforcement’s at the same time. Political Will Is the Missing Variable: Every intervention Oliver identifies is achievable. The barrier is the political will to confront the interests of those with wealth to hide. 📚 Resources Mentioned Everybody Loves Our Dollars by Oliver Bullough: https://amzn.eu/d/06emtzVh Butler to the World by Oliver Bullough: https://amzn.eu/d/gaqVRE9 Moneyland by Oliver Bullough: https://amzn.eu/d/ezB43Rv Oliver Bullough on The Guardian: https://www.theguardian.com/profile/oliverbullough Seize & Desist Episode 19 with Oliver Bullough: https://link.cohostpodcasting.com/d9980f5e-8a52-48d5-a31b-0ecfe2a3cc89?d=eJs8ymAzD&v=8112 📬 Stay Connected If you found this episode useful, make sure you: Subscribe to Seize & Desist wherever you listen Follow Asset Reality on LinkedIn and X for updates, resources, and future episodes Share this episode with colleagues working in asset recovery, investigations, or 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 any decisions on the topics being 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.

April 29, 202648 min

Ep. 34: The Implementation Gap: What You Seize Is What You Get

Jill Thomas speaks with Tristram Hicks about why cash seizure is one of the most powerful tools available to law enforcement and what it takes to build asset recovery systems that deliver at scale. As one of the lead practitioners behind the UK's Proceeds of Crime Act and an international capacity building adviser, Tristram explains what turns legislation into results, why financial DNA changes how investigators approach every crime, and what FATF's new asset recovery guidance means for practitioners worldwide. ⏱️ Timestamps 00:05 – Introductions 01:41 – POCA: from dozens of cases to 5000+ a year 11:45 – The cash seizure spark that changed UK practice 16:12 – Incentivisation and why recycling assets changes minds 23:10– Financial DNA: every financial transaction leaves a trace 27:30 – How things used to be vs what we should be working towards 33:20 – The need for statistics in asset seizure 37:30 – The importance of cross agency reporting systems 40:30 – Magic wand: bring cash seizure powers inland 👤 About Our Guest Tristram Hicks is the author of The War on Dirty Money and one of the most experienced asset recovery practitioners working internationally today. He spent ten years at the centre of the UK's Proceeds of Crime Act implementation, leading operational financial investigation teams at Scotland Yard while helping shape national policy. He has since worked across Europe, the Balkans, and beyond, advising governments on how to build asset recovery systems that deliver results in practice. 🔑 Key Takeaways Cash Seizure Is the Catalyst Extending powers from the border inland transformed UK practice. Most jurisdictions have the same dormant authority available today. Incentivisation Makes Legislation Work The UK's Proceeds of Crime Act succeeded because it built an implementation committee and recycled confiscated proceeds back to the agencies doing the work. Once the financial incentive was in place, national volumes grew 14-fold. Financial DNA Is Everywhere Every financial transaction leaves a trace connecting people to people, places, and money. Embed Financial Investigators at the Front Line Working alongside criminal investigators from the point of arrest is what converts law into seizures. Parallel structures are far more effective than isolated ones. 📚 Resources Mentioned The War on Dirty Money by Tristram Hicks | Amazon Tristram Hicks on Substack Tristram Hicks on LinkedIn Tristram’s Critique of the FATF Guidance FATF Guidance on Asset Recovery EU Asset Recovery Directive (2024) CARIN network 📬 Stay Connected If you found this episode useful: Subscribe to Seize & Desist wherever you listen Follow Asset Reality on LinkedIn for updates, resources, and future episodes Share this episode with those working in asset recovery, investigations or 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.

April 2, 202645 min

Ep. 33: Following the Mail: Postal Intelligence in the Age of Crypto Crime

Aidan Larkin speaks with Tara Kavanaugh, a federal investigator with the U.S. Postal Inspection Service (USPIS) and liaison to the FBI's dark‑web opioid task force. Tara draws on a career spanning HUMINT work in the Middle East, signals intelligence at the NSA and crypto‑enabled investigations at USPIS to explain how modern crime moves across the mail system, the dark web, and digital‑asset ecosystems. She outlines the realities of mail‑based fraud, fentanyl supply chains, dark‑web vendor activity, and the growing “scamdemic,” while highlighting how postal data and blockchain analytics help identify offenders. They also discuss inter‑agency collaboration, investigative tooling and why asset recovery remains central to disrupting harm. ⏱️ Timestamps 00:00 – Early Career & Intelligence Background 04:40 – USPIS Crypto Investigations 06:45 – FBI Liaison Role & Dark‑Web Opioid Task Force 12:50 – Using Postal Intelligence to Strengthen Federal Cases 15:30 – Blockchain Tracing Patterns, Playbooks & Criminal Methods 21:45 – Agency Readiness, SOPs & Evolving Crypto Capabilities 25:45 – Crypto ATMs, Victim Risks & the Growing “Scamdemic” 32:40 - The Modern Investigator’s Toolkit & Global Collaboration 👤 About Our Guest Tara Kavanaugh is a federal investigator at the U.S. Postal Inspection Service (USPIS) and liaison to the FBI’s Joint Dark‑Web and Opioid Task Force. Her career has spanned HUMINT operations in conflict zones, counterintelligence work at the NSA, dark‑web investigations targeting fentanyl vendors, and blockchain‑based tracing of narcotics proceeds and scam activity. Tara works across local, state, federal, and international partners like Europol to disrupt digital‑asset–enabled crime. 🔑 Key Takeaways Asset Recovery Is Not Peripheral From fentanyl vendors to terrorist financing, taking the money disrupts crime faster than arrests. Inter‑Agency Collaboration Works When Data Flows USPIS, FBI, Europol, and others share seized server data to proactively identify vendors and cases. USPIS postal metadata, label history, and mail‑stream analytics give investigators visibility that other agencies don’t have. Crypto ATMs Are a Major Scam Vector Elderly victims are overwhelmingly targeted, and the machines provide deceptive legitimacy. Blockchain Tools Have Improved Dramatically What once required hours of manual tracing now surfaces automatically across chains. 📚 Resources Mentioned 9CRC on Youtube Europol's Project A.S.S.E.T Alison Jimenez on Seize & Desist Rich Lebel on Seize & Deist Operation Shamrock Asset Reality's FCA Approval 📬 Stay Connected If you found this episode useful, make sure you: Subscribe to Seize & Desist on Apple Podcasts, Spotify, or wherever you listen Follow Asset Reality on LinkedIn for updates, resources, and future episodes Share this episode with those working in asset recovery, investigations or 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.

February 4, 202649 min

Ep. 32: Illicit Finance, Asset Recovery & the Reality of Global Crime Networks

Aidan Larkin sits down with Sal Melki, Deputy Director at the UK’s National Crime Agency and senior leader at the National Economic Crime Centre, to unpack how illicit finance really works today, from local cash couriers to global money laundering networks. Sal shares frontline insight on why money laundering is now easier than ever, how technology and crypto are reshaping criminal networks, and what actually works when disrupting and recovering criminal assets at scale. We also dive into Operation Destabilise, public-private data fusion, and why asset recovery has become one of law enforcement's most powerful tools against serious organised crime. ⏱️ Timestamps 00:00 – Introductions and Overview of the NCA and NECC 04:30 - Evolution of Organized Crime Networks 09:40 - AI, Synthetic Identities, and Emerging Threats 17:30 - Public-Private Partnerships & Data Fusion 28:40 - Crypto as an Asset Class 36:50 - Operation Destabilize 39:55 - Money Laundering as a Service 46:20 - Future Priorities 👤 About Our Guest Sal Melki is a Deputy Director at the UK National Crime Agency and a senior leader at the National Economic Crime Centre, where he leads the response to illicit finance, money laundering, and asset recovery. With a background in the Metropolitan Police and Counter Terrorism Policing, Sal works at the centre of the UK’s public‑private effort to disrupt serious organised crime. 🔑 Key Takeaways Illicit Finance is the System Asset recovery is not a side quest. It is central to disrupting organised crime, from drugs and fraud to sanctions evasion. Money Laundering Has Scaled Professional laundering networks now operate like service providers, using cash, crypto, shell companies, and technology to move value globally. Technology Cuts Both Ways AI, crypto, and automation are making crime easier, but they are also powerful tools when law enforcement and the private sector work together. Data Fusion Beats Silos Proactive, shared intelligence across banks, crypto firms, and law enforcement delivers far more impact than reactive reporting alone. Disruption Matters You do not always need to arrest the kingpin. Taking money, increasing friction, and targeting facilitators change behaviour fast. 📚 Resources Mentioned National Crime Agency (NCA) National Economic Crime Centre (NECC) Operation Destabilise The Record | Inside Operation Destabilise INTERPOL Silver Notice Basel Institute on Governance | INTERPOL Silver Notice Explained 📬 Stay Connected If you found this episode useful, make sure you: Subscribe to the podcast on Apple Podcasts, Spotify, or wherever you listen Follow Asset Reality on LinkedIn for updates, resources, and future episodes Share this episode with colleagues working in asset recovery, investigations, or 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.

December 20, 20257 min

BONUS: Aidan Larkin on Times Radio: What happens after a £5.1bn crypto seizure?

This episode was originally recorded for Times Radio on 13th November 2025. In this special bonus episode, Aidan Larkin joins Hugo Rifkind on Times Radio to discuss what happens after a major seizure and why the landmark £5.1bn crypto seizure could redefine how governments handle digital assets. In November 2025, a Chinese national dubbed the “Bit Queen” was sentenced to several years in prison for orchestrating a staggering £5.1 billion cryptocurrency Ponzi scheme. The case made headlines worldwide, not just for its scale, but for the questions it raises about the future of asset recovery in a digital age. Aidan and Hugo explore: What happens after billions in crypto are seized How governments navigate cross-border asset recovery The diplomatic and legal challenges of returning funds to victims Why this case could set a global precedent for managing digital assets Resources Crypto Seizures: A Turning Point for Global Asset Recovery BBC News: Cryptoqueen who fled China for London mansion jailed over £5bn Bitcoin stash Stay Connected Subscribe to Seize & Desist for all the latest insights on asset recovery. 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.

December 5, 20251 hr 2 min

Ep. 31: Inside the 'Scamdemic' with Operation Shamrock

Aidan Larkin sits down with Erin West and Detective Matthew Hogan of Operation Shamrock to unpack the global 'scamdemic' that’s devastating victims and fuelling organised crime, exploring the human cost behind crypto-enabled fraud. Erin and Matthew share frontline insights on why law enforcement struggles to keep pace, how AI is supercharging scams and what systemic changes are urgently needed. We also spotlight Asset Reality’s new strategic alliance with Operation Shamrock , aimed at closing the enforcement gap and accelerating victim restitution worldwide. Timestamps 00:00 – Introduction 03:30 – The Scamdemic: How pig-butchering scams evolved and scaled globally 10:00 – AI and the psychology of scams 15:00 – Human trafficking and scam compounds 20:00 – Law enforcement challenges 29:00 – Why crypto recovery is easier than you think 46:00 – Social media’s role in enabling scams 59:00 – Community, Collaboration and the Crypto Coalition About Our Guests Erin West is the founder of Operation Shamrock , a nonprofit dedicated to disrupting the scam industry through education, advocacy and law enforcement support. After 26 years as a prosecutor, Erin now leads global efforts to fight transnational organized crime and protect victims. Matthew Hogan is a detective with the Connecticut State Police and co-founder of its cryptocurrency working group. He serves on the Secret Service Financial Crimes Task Force and works tirelessly to recover assets for victims of crypto-enabled fraud. Key Takeaways The Scamdemic is Industrial : Pig-butchering scams and sextortion are run from compounds housing tens of thousands of trafficked workers, weaponizing AI and psychological manipulation. Law Enforcement is Outpaced : Crypto recovery is technically easier than physical asset recovery, but resource gaps, bureaucracy and lack of training stall progress. Systemic Change is Needed : From unified reporting systems to breaking down silos, collaboration across law enforcement, tech platforms and financial institutions is critical. Our Partnership with Operation Shamrock Asset Reality and Operation Shamrock have formed a global strategic alliance to: Deliver monthly free crypto seizure training to U.S. and international law enforcement via the Crypto Coalition. Develop standardized playbooks for intake, seizure, and investigation workflows. Launch a global advocacy initiative making victim restitution a core success metric for crypto enforcement. As Aidan Larkin says: “This isn’t just about crypto, it’s about systemic change. If we empower local agencies with the right playbook and tools, we can disrupt billion-dollar networks before the funds vanish.” Learn more Resources Operation Shamrock Crypto Coalition Chainalysis Report: Seizable Crypto Assets in 2025 Stay Connected Subscribe to Seize & Desist for all the latest insights on asset recovery. 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.