Rinsed: From Cartels to Crypto: How the Tech Industry Washes Money for the World's Deadliest Crooks

In this episode Mark sits down with author and journalist Geoff White about his latest book ‘Rinsed: From Cartels to Crypto: How the Tech Industry Washes Money for the World's Deadliest Crooks’.

Rinsed tells stories of money laundering online, from popular gaming like Axie infinity and Call of Duty to Backpage and Tornado Cash, a cryptocurrency mixing service. And how cybercriminals use these different platforms to launder their illicit gains.

He also talks about larger than life characters that inhabit this space, like the Nigerian social media influencer, Hushpuppi, whose jet-setting lavish lifestyle came crashing down after it was revealed that he laundered millions of dollars for the North Korean Lazarus Group’.

Geoff has been investigating cyber and financial crime for some time, writing books and presenting podcasts on his work. He is best known for his research into the infamous “Lazarus Group”, connected to the North Korean state and responsible for some of the biggest (not just crypto) heists in history – such as the Bangladesh Bank cyberattack, the Axie Infinity hack and most recently Bybit Heist, which saw $1.5 billion in Ethereum disappear from the exchange.

Geoff talks about his book, the seeming blindness or indifference tech companies have towards their platforms being used by money launderers, and the challenge of writing books on this subject.

Timecodes:

0:00 - Intro

01:46 - Background to Geoff's book Rinsed

03:01 - The Intersection of Technology and Money Laundering

05:56 - General Blindness in Tech Industry

08:32 - Tornado Cash, Axie Infinity and North Korean Hackers

12:55 - Backpage, CSAM, Money Laundering

17:25 - Response to the Book from Tech World

19:00 - Resilience of Cryptocurrency & Pro-Crypto US Administration

22:54 - Lack of Ability to Control Illicit Finance

26:18 - The Evolving Threat of North Korean Cybercrime

30:01 - Hushpuppi: Social Media Influencer by Day, Money Launderer by Night

33:33 - The Challenges of Crypto Traceability

37:38 - Challenges of Writing on Money Laundering

40:58 - Characters that Left a Lasting Impact

43:19 - Discovering the Story

46:03 - What's Next?

49:44 - Why Books like Rinsed are still needed

52:11 - Importance of Security

54:11 - Upcoming Projects

54:53 - Outro

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Geoff White's book ‘Rinsed: From Cartels to Crypto: How the Tech Industry Washes Money for the World's Deadliest Crooks’ is available here: https://www.amazon.co.uk/Rinsed-Cartels-Crypto-Industry-Deadliest/dp/0241624835

Audible version: https://www.amazon.co.uk/Rinsed-Cartels-Crypto-Industry-Deadliest/dp/B0CWJMSTYG/ref=tmm_aud_swatch_0

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Underworlds with Mark Shaw Playlist: https://www.youtube.com/playlist?list=PLXSX1Xu1kM0ss7EEqXOflp3d-lZw4LfIe

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📱 YouTube Channel - https://www.youtube.com/@UCP-lqJdhM-9iDKkswuVcXZA

🌎 VISIT US! Global Initiative Against Transnational Organized Crime - https://globalinitiative.net/

🎧Audio version: https://link.chtbl.com/7c27X1CM

🎧WHY NOT TRY OUR OTHER PODCASTS:

🎧Deep Dive: Exploring Organized Crime - https://www.youtube.com/playlist?list=PLXSX1Xu1kM0spSX0QUq7j0NmIZOqyDTZQ

🎧The Index - https://www.youtube.com/playlist?list=PLXSX1Xu1kM0uc_4CftGl8PrwHA3IK5WeI

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Man Alone: Mandela’s top cop – exposing South Africa’s ceaseless sabotage

In this episode Mark sits down with journalist Caryn Dolley to discuss her latest book, ‘Man Alone: Mandela’s top cop – exposing South Africa’s ceaseless sabotage’.

Man Alone follows the career of a remarkable South African police officer called André Lincoln, who passed away in May 2025. He was handpicked during the 1990s by Nelson Mandela, to head a secret unit investigating connections between government officials and organized crime in South Africa. He started with Cosa Nostra, the mafia from Sicily.

His long career was marked by controversy, in 2003, Lincoln was convicted of fraud and sacked by the South African Police Service (SAPS), only for the decision to be overturned a few years later after a successful challenge. He always insisted that people within the state, including fellow officers, targeted him in an attempt to scupper his investigations.

Lincoln dedicated 39 years to law enforcement, eventually heading the Western Cape Anti-Gang Unit, a unit dedicated to combatting gangsterism in the area. He was accused of not doing enough to prevent the murder of his colleague Charl Kinnear, who was gunned down in 2020, although he vehemently denied this.

In May 2025, Major-General André Lincoln passed away, after years of health problems that left him in a wheelchair.

Caryn talks about Lincoln’s life but she also speaks candidly about her life as a journalist covering the crime beat in the Western Cape.

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Caryn Dolley's book ‘Man Alone: Mandela’s top cop – exposing South Africa’s ceaseless sabotage’ is available here: https://www.amazon.com/Man-Alone-Mandelas-exposing-ceaseless-ebook/dp/B0DPZL8ZB1

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Underworlds with Mark Shaw Playlist: https://www.youtube.com/playlist?list=PLXSX1Xu1kM0ss7EEqXOflp3d-lZw4LfIe

====================================================

📱 YouTube Channel - https://www.youtube.com/@UCP-lqJdhM-9iDKkswuVcXZA

🌎 VISIT US! Global Initiative Against Transnational Organized Crime - https://globalinitiative.net/

🎧Audio version: https://link.chtbl.com/7c27X1CM

🎧WHY NOT TRY OUR OTHER PODCASTS:

🎧Deep Dive: Exploring Organized Crime - https://www.youtube.com/playlist?list=PLXSX1Xu1kM0spSX0QUq7j0NmIZOqyDTZQ

🎧The Index - https://www.youtube.com/playlist?list=PLXSX1Xu1kM0uc_4CftGl8PrwHA3IK5WeI

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FOLLOW US

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LinkedIn - @Global Initiative against Transnational Organized Crime

IG - @gi_toc

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Underworlds with Mark Shaw is returning for another season.

Mark sits down with authors to discuss their investigations into the murky world of organized crime.

In season two, we hear about a range of stories such as money laundering and cryptocurrency; the 'Ndrangheta's expansion from Calabria, Italy to other countries of Europe.

Also the story of a leading South African police officer, who was tasked with investigating the Italian mafia in South Africa by Nelson Mandela.

A fascinating story about one of the largest frauds in the history of the maritime industry. The growth and evolution of ransomware market, and finally a history of modern Russia told through the stories of four very different criminals.

The series is hosted by Mark Shaw, the Director of the Global Initiative Against Transnational Organized Crime. Mark is also an author of a number of books on organized crime in South Africa.

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📱 Youtube Channel - https://www.youtube.com/@UCP-lqJdhM-9iDKkswuVcXZA

🌎 VISIT US! Global Initiative Against Transnational Organized Crime - https://globalinitiative.net/

🎧WHY NOT TRY OUR OTHER PODCASTS:

🎧Deep Dive: Exploring Organized Crime - https://www.youtube.com/playlist?list=PLXSX1Xu1kM0spSX0QUq7j0NmIZOqyDTZQ

🎧The Index - https://www.youtube.com/playlist?list=PLXSX1Xu1kM0uc_4CftGl8PrwHA3IK5WeI

===================================================

FOLLOW US

X - @gitoc

LinkedIn - @Global Initiative against Transnational Organized Crime

IG - @gi_toc

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