Geoff White's Rinsed is a gripping exploration of how technology has transformed the landscape of financial crime. Building upon the success of his previous work, The Lazarus Heist, White once again demonstrates his mastery of transforming complex financial intricacies into compelling narratives.
The book is a meticulously crafted mosaic, pieced together from diverse case studies that illuminate the evolving tactics of modern-day money launderers. White's ability to simplify complex financial concepts is commendable. He deftly navigates the intricacies of placement, layering, and integration, making these terms accessible to both financial crime experts and those new to the field.
A particular strength of Rinsed lies in its exploration of the symbiotic relationship between technology and criminality. White puts the digital underworld under the microscope, exposing how e-commerce platforms, online classifieds, and social media have become fertile ground for fraudsters. His analysis of the role of money mules is particularly insightful, highlighting the human cost of these criminal enterprises.
Moreover, White offers a refreshing perspective on the countermeasures being deployed to combat these threats. His exploration of innovative techniques such as auto-baiting Business Email Compromise (BEC) fraudsters is both enlightening and encouraging. It is a testament to the ingenuity of those on the front lines of the fight against financial crime.
While Rinsed excels at providing a comprehensive overview of the modern financial crime landscape, its episodic structure, while effective in showcasing the diversity of criminal activities, might leave some readers yearning for a more cohesive narrative. The book's strength lies in its breadth rather than its depth, offering a panoramic view of the problem rather than an in-depth examination of specific cases.
Nevertheless, Rinsed is an essential read for anyone seeking to understand the evolving dynamics of financial crime. White's clear and engaging writing style, combined with his deep knowledge of the subject matter, make this book a valuable resource for both seasoned professionals and those new to the field. It is a stark reminder of the challenges we face and the innovative approaches needed to overcome them.
Rinsed encourages the reader to confront the reality of a financial system under siege and to appreciate the relentless efforts of those working to protect it. White's ability to take these complex issues that we all grapple with on a daily basis, and make them accessible to a wide audience is a testament to his skill as a writer and his commitment to informing the public about this critical threat.
Iain Armstrong, Institute Committee Member and Global Regulatory Affairs Practice Lead at ComplyAdvantage,
Geoff White [left] and Iain Armstrong [right]
