S&D E28: Property: Crime’s Favourite Laundromat

Dirty money isn’t just hiding in offshore accounts: it’s buying luxury homes, office towers and prime land, turning real estate into the world’s most powerful laundromat.

In this episode of Seize & Desist, Aidan Larkin speaks with investigative journalist and co-founder of the Organized Crime and Corruption Reporting Project (OCCRP), Paul Radu, to uncover the hidden pipelines criminals use to move illicit funds and the uphill battle to reclaim stolen assets.

They dive into:

✅ How real estate became a global laundromat for illicit cash

✅ Why political will and public accountability are often missing from the fight

✅ The collision of cash and crypto in laundering schemes

✅ The roles of journalism and technology in exposing criminal networks

✅ Why professional enablers must be held accountable

Timestamps

00:00 – Introduction and Background

03:00 – Scale of Illicit Finance and Asset Recovery

08:50 – Real Estate, Political Will, and Law Enforcement Challenges

17:45 – Public Accountability, Global Coordination, and Citizen Involvement

23:50 – Technology, Crypto, and the Future of Money Laundering

29:55 – Transparency, Professional Enablers, and Concluding Thoughts

About our Guest

Paul Radu is an investigative journalist and co-founder of the Organized Crime and Corruption Reporting Project (OCCRP). Over the past 20 years, he has investigated corruption, organized crime, and illicit financial networks across Europe and beyond. Through his reporting, he exposes systemic corruption and criminal enterprises, providing critical insight into asset recovery, financial crime, and the global fight for accountability.

Key Takeaways

The Scale of Illicit Finance: Illicit finance totals around $3 trillion annually, with a significant portion invested in real estate, which criminals use to store assets and worsen housing crises.

The Role of Investigative Journalism: Investigative journalists often uncover corruption and criminal networks, providing evidence that prompts law enforcement action.

Political Will and Public Accountability: Strong political support is essential for launching large-scale investigations, and public scrutiny can drive local authorities to act against illicit finance.

Global Coordination and Transparency: Effective asset recovery requires international collaboration and data transparency, enabling citizens and authorities to track and challenge illicit asset ownership.

Professional Enablers and Criminal Innovation: Lawyers, bankers, and other enablers must be held accountable, and traditional money laundering methods remain important despite the rise of crypto.

Resources

Organized Crime and Corruption Reporting Project (OCCRP)

OCCRP Report: Dubai Unlocked

The Independent: Protesting dirty-money luxury homes in London

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