Shows
CorylatedTakeaways from the Singapore FinTech Festival 2025What’s next for crypto, payments, and fintech in Asia? In this episode, Rachel Wolcott and Niece Prayoonrat unpack the biggest trends and insights from the Singapore FinTech Festival 2025—from stablecoin regulation and TradFi–DeFi partnerships to cutting-edge cross-border payment systems and anti-scam measures. Tune in for the key takeaways shaping the global financial landscape. Niece talks about crypto’s victory lap at SFF and key players in attendance, BIS’s Nexus Project demo, Singapore’s new anti-scam framework and China’s influencer licensing regime.LinksGlobal regulators target ‘cultural’ fragmentation in digital assetsCrypto giants are in l...
2025-12-0425 minCorylatedTrade Secret, enablers of the illicit trade in polar bearsIn this episode, founding editors Rachel Wolcott and Lindsey Rogerson sit down with Adam Cruise, a South African investigative journalist whose work exposes realities of wildlife trade and conservation policy. Adam shares insights from the acclaimed documentary Trade Secret, which uncovers how legal wildlife trade often fuels illegal trafficking, with devastating consequences for species like polar bears, lions, and rhinos.The conversation explores the complex web of international agreements, including CITES (Convention on International Trade in Endangered Species), and the troubling role of euphemistic language such as “sustainable utilization” and “conservation hunting.” Adam reveals how these policies, supported by...
2025-11-2745 minCorylatedCan carbon credits overcome their chequered past & save the planet?In this week’s Corylated podcast Lindsey and Rachel discuss carbon markets. They begin with the ongoing UN climate conference (COP30) in Brazil and a recap of the current state of CO2 emissions and rollback on sustainable finance rules underway in the European Union. Next, they discuss the alleged $100 million fraud at Cookstove and how it adds to a chequered history of carbon credits. They then move on to outline the financial crime and fraud vulnerabilities of these instruments, as first set out in a 2013 report by INTERPOL and now being explored by the Royal United Services Institute (RUSI). Lindsey then expl...
2025-11-2042 minCorylatedNo sense of urgency in UK fraud responseThe UK still lacks a new fraud strategy, leaving consumers and businesses exposed to escalating threats. In this episode, Lindsey and Rachel unpack why the lack of government action and explore the blame game between tech giants, financial services and policymakers. Meta faces criticism for enabling fraud through its platforms—but Meta points the finger back at payments providers. Meanwhile, identity fraud is becoming a jigsaw puzzle of stolen data, weak controls, and fragmented accountability. Amid the chaos, Starling Bank stands out as a bright spot with its innovative fraud intelligence tool, proving that thoughtful measures may make a real difference.
2025-11-1334 minCorylatedWill Britcard be panacea for reducing fraud?In this episode Lindsey Rogerson, founding editor and Elizabeth Lumley, special correspondent, discuss the newly announced plan for a digital ID – or Britcard -- in the UK. Elizabeth highlights the lack of detail in what the government has announced, and they discuss the politicisation of announcement. The conversation then turns to the digital IDs that already exit in the UK as well as the merits of the numerous examples of introductions of digital IDs by governments in countries including India, Singapore, Brazil, the United Arab Emirates and Estonia. Elizabeth and Lindsey then discuss the bank-led digital IDs initiatives in Norway and...
2025-11-0631 minCorylatedSterlingov vs the blockchain analytics industryIn this episode, Rachel Wolcott speaks with Patrick Tan, general counsel at ChainArgos about the controversial use of blockchain analytics in criminal investigations, focusing on the case of Roman Sterlingov, convicted of operating Bitcoin Fog. Patrick discusses the limitations and risks of relying on blockchain tracing heuristics as forensic evidence, the amicus brief ChainArgos filed in Sterlingov’s appeal. Rachel and Patrick also discuss the Bybit hack and Iranian crypto flows and nested exchanges. Rights to replyChainalysis declined to comment on the ChainArgos Amicus Brief.TRM Labs said it did not see a d...
2025-10-3052 minCorylatedMissing the red flags in UK payments service provider failuresIn this week’s Corylated podcast Rachel and Niece discuss yet another failed UK payment service provider and examine the UK Financial Conduct Authority’s recent track record supervising this market segment. As UK PSPs continue to fail, the FCA would like to speed up authorisations. Niece and Rachel wonder about these plans, as well as the lighter touch crypto regimes developing in the US and UK. Also, Niece tells Rachel about “strong views” aired at the recent US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) crypto roundtable! Links Complaints Commissioner’s report on Firm...
2025-10-2336 minCorylatedGetting curious about human trafficking transaction typologiesIn this week’s Corylated podcast Rachel speaks to Neil Giles, president of the TraffikAnalysis Hub at UK charity Stop the Traffik. Neil shares his deep expertise in identifying human trafficking through financial transaction data and using persona-based typologies and survivor-informed intelligence.The conversation explores how financial institutions can detect trafficking patterns, the role of typologies, and why getting curious about this crime can help set someone free. The episode also covers:• The growing market for child sexual exploitation and its financial footprint• Payment service providers and high-risk transactions• The importance of public-private par...
2025-10-1639 minCorylatedQ3 enforcement analysis – MAS steps up as French reject Shein’s cookiesIn this episode Rachel Wolcott and Lindsey Rogerson discuss third quarter enforcement data provided by Corlytics. They begin by reviewing the largest fine of the quarter handed down to fast fashion chain, Shein, by French privacy watchdog Commission nationale de l’informatique et des libertés’ (CNIL). Shein was fined US$175.7 million for multiple breaches of Article 82 of the EU General Data Protection Regulation (GDPR) after an August 2023 investigationproblems with the retailers’ cookies. Rachel then explains the enforcement actions which lie behind a record quarter of fines from the Monetary Authority of Singapore (MAS), before moving on to...
2025-10-0932 minCorylatedThe Dark Pattern, a conversation with Guido PalazzoThe Corylated podcast is back with a conversation with Guido Palazzo, professor of business ethics at the University of Lausanne in Switzerland. Guido spoke to Rachel this week about his new book The Dark Pattern.Join Guido and Rachel for a sobering journey through corporate hell exploring the human toll of some of the worst corporate scandals of recent times. Guido and his co-author Ulrich Hoffrage have identified nine traits of the dark pattern and explain how they manifested at companies from Theranos and Wells Fargo to Uber, Foxconn and FranceTelecom—all scenes of serious corporate malfeasance. Finall...
2025-10-0244 min
The LaundryE132: The rise of the NepoPEPs – Russia's golden youthYoung, educated, multi-lingual, tech-savvy, operating across multiple countries.NepoPEPs are the sons, daughters, and other younger relatives of typical oligarchs—a new generation that has become instrumental in moving money across borders through crypto and other illicit means.But make no mistake—stopping this network of young politically exposed persons is no child’s play!Our expert host, Robin Lycka, is joined by Rachel Wolcott, founder and editor of Compliance Corylated, to explore: the rise of the NepoPEPs!The pair discuss: the new face of Russia's golden youth...
2025-08-2837 min
Gov Efficiency Report: Bureaucracy Barking Mad? (DOGE Angle)DOGE AI Tool Promises Radical Federal Deregulation Amid Legal Challenges and Government Efficiency EffortsIn the latest Gov Efficiency Report, bureaucracy looks barking mad—and the DOGE angle is front and center. Bloomberg Tax reports that the Department of Government Efficiency’s July 1 presentation promised to eliminate 50% of all federal regulations using a new AI tool touted as 15 times faster than staff review, but experts warn its bark may be bigger than its bite as courts scrutinize how agencies honor public comment and due process under the Administrative Procedure Act. According to Bloomberg Tax, the push envisions killing roughly 100,000 rules, yet legal and operational hurdles loom large.The Conference Board explains that a “D...
2025-08-1203 minCorylatedIt’s all about (ML/CFT) controlsIn this episode Rachel Wolcott and Lindsey Rogerson discuss how the US is diverging from the Rest of the World when it comes to expectation on financial crime expectation and the checks it requires financial institutions to make. They begin talking about US Treasury plans to reduce Bank Secrecy Act anti-money laundering obligations for smaller banks. Rachel raises the case of Summit National Bank in Hulett, Wyoming (pop.
2025-08-0740 minCorylatedSM&CR went from ‘just right’ to ‘too much’ in a decadeIn this episode Rachel Wolcott and Lindsey Rogerson discuss the proposed changes to the UK’s landmark Senior Managers & Certification Regime (SM&CR). At its inception it was deemed to be framework proportionate to challenge of holding financial services senior managers accountable, but 10 years on the UK government and regulators view some aspects to be a burden. Rachel and Lindsey look back at the post-Global Financial Crisis landscape that brought SM&CR into being, the lack of enforcement action around the regime as well as some of the proposed changes. LinksMore senior manager penalties com...
2025-07-3136 minCorylatedCryptically speaking: Increasing use of common financial terminology is blurring crypto risk lines for consumersIn this episode Niece Prayoonrat discusses her recent reporting with Lindsey Rogerson. They begin with failed crypto firm, Ziglu. Niece explains how she first became aware that something might be amiss at the group, before moving on to discuss the uncertainty over whether investors will get any money they had in its so-called “boost deposit account” back. Niece then turns to neo-broker Robinhood’s recent product launch on the French Riviera, and why its regulator – the Bank of Lithuania – has some questions over its Open AI and Space X private stock tokens. They discuss why the regulator’s de...
2025-07-2424 minCorylatedUnpacking the Korfuzi judgment and the rise of OCGs involvement in insider dealingIn this episode Rachel Wolcott and Lindsey Rogerson discuss the jailing of siblings Redinel and Oerta Korfuzi at Southwark Crown Court in London on July 4. The pair were found sentenced to a combined 11 years after Redinel used his position as an analyst at Janus Henderson to trade on inside information. They begin by discussing why the Financial Conduct Authority (FCA) might be a celebratory mood after this and other recent successful insider dealing prosecutions, before considering the details of the judgment and the lessons therein for financial services professionals. The conversation then moves on to ponder...
2025-07-1731 minCorylatedNon-financial misconductIn this episode, Rachel Wolcott and Lindsey Rogerson discuss the UK Financial Conduct Authority’s proposals to apply non-financial misconduct rules to an additional 37,000 regulated firms and lessons from the recent Upper Tribunal decision in the Jes Staley case. They begin by recapping the findings from the FCA’s survey of non-financial misconduct which was published last year as way of highlighting why the rule changes to the Code of Conduct (COCON) and Fit and Proper assessments is needed. They discuss why compliance and legal professional think guidance will help firms decide what “serious” bullying and harass...
2025-07-1036 minCorylatedThe NepoPep: Exploring deep connections between Russian elitesThis week we’re bringing an episode featuring Ilia Shumanov, board member at Transparency International Russia in Exile and the co-founder of Arctida, a non-profit focused on challenges facing the Russian arctic. Ilia speaks with Rachel Wolcott, Compliance Corylated’s founding editor about their recent collaboration investigating the son of a Russian Duma deputy and alleged gangster who grew up outside Russia in the US and UK private schools. Boris Borisovich Ivanyuzhenkov is another wealthy, young Russian with elite connections. Despite his father Boris Viktorovich Ivanyuzhenkov being a high-ranking figure in the legendary Podolsk OCG, young Boris has travel...
2025-07-0353 minCorylatedGolden Youth: How a wealthy Gen-Z Russian came to run a cash-to-crypto money laundering scheme from his Kensington flatThis week we’re bringing an episode featuring Ilia Shumanov, board member at Transparency International Russia in Exile and the co-founder of Arctida, a non-profit focused on challenges facing the Russian arctic. Ilia speaks with Rachel Wolcott, Compliance Corylated’s founding editor about the ‘Golden Youth’ series of articles examining one of the actors involved in multi-billion-pound crypto laundering scheme. Ilia and Rachel recently collaborated on an investigation into the Semen Kuksov case. Kuksov, a young wealthy Russian, was jailed in 2024 in the UK after pleaded guilty to laundering £12 million through his cash-to-crypto operation. Ilia and Rachel unpack the case and...
2025-06-2645 minCorylatedHard Bargain: Working in a regulated sector brings responsibilitiesIn this episode, Lindsey and Rachel cover the sentencing of UK art dealer for failing to report suspicion of terrorist financing when dealing with a sanctioned individual. Oghenochuko Ojiri, who was given two and a half years in prison, subscribed to an art market due diligence service, but did not heed its findings. Mrs Justice Cheema-Grubb told Ojiri during sentencing: “These offences are so severe that only a custodial sentence can be justified. Working in a regulated sector brings responsibilities, but you closed your eyes to what you knew.” Listen in for further insights from the sentencing. Links:
2025-06-1924 minCorylatedMeet the UK FCA’s new enforcement approach, same as the old oneIn this episode Lindsey Rogerson and Rachel Wolcott discuss the UK Financial Conduct Authority’s updated version of its Enforcement Guide. They begin by recapping on the intentions behind proposals to change the “exceptional circumstance” test for disclosing if/when a financial services firm was under investigation. They discuss the entirely foreseeable backlash and justifiable industry concern about naming firms when time for FCA to complete investigations was running at an average of 42 months. The conversation then moves onto consider where the consultation landed on transparency and what if anything has really changed. Rachel als...
2025-06-1226 minCorylatedVulnerable customers, digital inclusion: An interview with Howard Taylor, a director at PwC’s risk and compliance practiceUK financial services firms are still falling short when it comes to their vulnerable customers. The Financial Conduct Authority (FCA) explored the issue in its March review, highlighting that the financial services industry is still not doing enough. To unpack the challenge, Niece Prayoonrat, a reporter at Corylated, speaks to Howard Taylor, a director at PwC’s Risk and Compliance Transformation Consulting practice. Howard participated in the FCA’s panel launching its most recent work on vulnerability and has advocated for a needs-led and customer-focused approach to vulnerable customers. He also offers valuable insights as a wheelchair user...
2025-06-0525 minCorylatedFraud, between caveat emptor and accountabilityIn this episode Lindsey Rogerson and Rachel Wolcott begin by discussing why the UK is such a hotbed for fraud and go onto consider the recent drop in authorised push payment (APP) fraud in the UK following the introduction of mandatory reimbursement in October 2024. The conversation then moves onto the European Payments Services Directive (PSD3) and how it is being updated in an effort to clampdown on the use of virtual IBANs by fraudsters. The lack of user-friendliness of fraud warning lists issued by European and global regulators is then discussed alongside the Financial Conduct Authority's Register.
2025-04-2442 minCorylatedDisharmony and trade war convergenceIn this episode Rachel Wolcott and Lindsey Rogerson discuss the state of play with various sanctions regimes. Following Russia’s invasion of Ukraine in 2022, the United States, European Union, United Kingdom and others imposed sanctions and Russian sanctions are still the big story as the war passed its third anniversary in February. The return of Donald Trump to the White House caused initial uncertainty, but this month saw the US renew its Russian sanctions package. The discussion looks at how the US, UK and EU have evolved their Russian sanctions, including a close look at two cases in the UK –involving respect...
2025-04-1744 minCorylatedThey get knocked down, can they get up again?In this episode Rachel Wolcott and Lindsey Rogerson discuss the timely arrival of the European Union’s Digital Operational Resilience Act (DORA) and the requirement for UK financial institutions to identify their critical third party suppliers.The Crowdstrike event last summer highlighted the risk of third party suppliers. The need for such DORA/UK work was furthered underscored in letters sent to the UK parliament’s Treasury Committee in February by the country’s nine largest banks. The breakdown of the cause of every bank outage in the last two year is illuminating – issues at third party supplier...
2025-04-1040 minCorylatedDo Over – open banking needs a resetIn this episode, Lindsey Rogerson is joined by Elizabeth Lumley to discuss what is happening with open banking and open finance in the UK, EU and elsewhere. The UK used to be a global leader in open banking but with even the chief executive of the Financial Conduct Authority (FCA) saying recently that the country is falling behind the likes of Brazil and India we take a look at what can be done to course correct. We discuss what went wrong and what is needed, from government, regulators and incumbent banks to get things moving again and wh...
2025-04-0334 minCorylatedEarth wind and fire – why mitigating climate risk is now a resilience exerciseIn this episode, we take a look at the growing economic risk from physical climate change and the increasing intensity of natural catastrophes as a result of a warming planet. In Europe only around one quarter of damage from natural catastrophes have historically been covered by insurance, in Asia the figure is 13%. And in the US state of California home sales are falling through because potential buyers cannot procure mortgages due to the risk of wildfires.We discuss how the European Insurance and Occupational Pensions Authority (EIOPA) and the European Central Bank (ECB) have been leading the...
2025-03-2739 minCorylatedSocial media’s insidious influence on financeIn this episode, we delve into the powerful role social media plays in amplifying and accelerating financial risks. We revisit the 2023 collapse of Silicon Valley Bank, a prime example of a social media fuelled bank run where $40 billion fled in hours after online doubt spread. Experts and regulators, including Janet Yellen, have highlighted how social media can endanger banks through rapid deposit flight.We also explore how social media amplifies sows distrust in regulators, auditors and the justice system. The episode touches on how strategic leaks and rumours surrounding mergers and acquisitions amplified online.The...
2025-03-2039 minCorylatedThe Big DEI RebrandIn this episode, Lindsey Rogerson and Rachel Wolcott talk about International Women’s Day 30 years on and how diversity, equity and inclusion (DEI) conversations have changed as a younger generation (well, younger than us!) come into the workplace. This year Lindsey found women at a fintech event in London to be optimistic about work and their place at work. She tells us about trends like silent meetings (sounds delightful!) and what young women have to say about mentorship and maternity leave.Rachel meets some women in Canary Wharf and talks about the state of DEI in...
2025-03-1331 minCorylatedTaming the Street: An interview with financial journalist and historian Diana HenriquesFinancial services deregulation has become a global theme. At a time when policy makers and regulators are seeking to slim down rulebooks governing financial services, Rachel Wolcott speaks to Diana Henriques, author of Taming the Street: The Old Guard, the New Deal, and FDR’s Fight to Regulate American Capitalism.Diana’s 2023 book dramatizes the birth of the US Securities and Exchange Commission (SEC) in the aftermath of the 1929 stock market crash. How much has conduct and culture moved on from the Wall Street of the New Deal? What can we learn about the early days of fina...
2025-03-0656 minCorylatedUK Motor finance and the FCA's surprise claims surgeIn this episode, Lindsey Rogerson unpacks the details of the potential claims facing UK motor finance lenders. Lloyds Banking Group the UK’s biggest motor finance lender just upped its provisioning to almost £1.2 billion. And they are not happy about it. The problem arises from the Financial Conduct Authority (FCA) 2021 ban on discretionary commission arrangements or DCAs. These were hidden commissions that incentivized car salespeople to achieve a higher interest rate in turn for a bigger commission. The issue here was no one declared this DCA feature to customers. Once the ban was in place, complaints and claims flooded in...
2025-02-2728 minCorylatedDeregulatory drumbeat reaching a crescendoIn this first episode of Corylated, founding editors Rachel Wolcott and Lindsey Rogerson discuss how the global political clamor for deregulation is manifesting on the ground in the United States, Europe and the United Kingdom. They discuss how compliance officers need to dial back the noise and stay focused on what rules their firms need to comply with. And go on to discuss the voices emerging to question if deregulation really will lead to economic growth.Links:The White House executive order on cryptoFinancial Conduct Authority application to Supreme Court to intervene...
2025-02-2041 minCorylatedWelcome to CorylatedWelcome to 'Corylated', the podcast for compliance and risk aficionados. Rachel Woolcott and Lindsey Rogerson dive deep into the ever-evolving world of regulation and compliance. Unveiling trends, providing expert insights, and building a vibrant community, each episode is your gateway to mastering the historical context and current shifts in regulatory landscapes. Tune in, stay informed, and enjoy the some of the trusty guidance we promise to deliver!
2025-02-1803 min