The Laundromat with Dawn Pretorius

Episodes

• Money Laundering in all its glory 28.02.2025 18m

  Episode 1 of The Laundromat dives deep into the world of money laundering, exposing the staggering scale of financial crime across the globe. From major banking scandals like TD Bank’s involvement in laundering fentanyl profits to Mozambique’s $2 billion fraud, we uncover how illicit funds flow through legitimate systems, often with minimal consequences for the perpetrators. Cyber scams, shell companies, and underground banking networks all play a role in this multi-trillion-dollar problem, affecting economies, businesses, and everyday people. With technological advancements, criminals continue to adapt, making it increasingly difficult for authorities to keep up. But what about the fight against money laundering? We explore the challenges regulators face, the evolving landscape of financial crime, and the role of AI in detecting fraudulent activity. From cybercriminals exploiting cryptocurrencies to governments struggling to close loopholes, this episode raises critical questions: Why are AML controls failing? What are the biggest red flags investigators look for? And most importantly, what can be done to curb this ever-growing threat? Join us as we peel back the layers of corruption, fraud, and deception shaping the financial underworld.
• Politics, Rule of Law and Tax 28.02.2025 14m

  In this episode, we dive into the intricate connections between politics, the rule of law, and global economics—where money laundering plays a central role. From corporate power and tax havens to the unintended consequences of globalization, we explore how illicit financial flows distort economies, deepen inequality, and undermine democracy. With billions of dollars hidden offshore, governments lose vital resources needed for infrastructure, healthcare, and education, widening the wealth gap. Is money laundering as serious as climate change? Absolutely. It fuels corruption, strengthens organized crime, and weakens financial systems worldwide. We’ll unpack how compliance efforts often fall short and why financial institutions face an uphill battle against an ever-evolving global network of illicit finance. Join the conversation and challenge the narratives shaping our economic reality.
• FATF: Fighting Financial Crime or Fueling Illusions? 13.05.2025 34m

  In this thought-provoking episode, financial integrity expert Dawn Pretorius and Professor Louis de Koker delve into the complex world of the Financial Action Task Force (FATF); its origins, effectiveness, and the unintended consequences of its global standards. Established in 1989 by the G7 to combat money laundering and terrorist financing, FATF now influences global financial regulations. But has it lived up to its mission? Dawn and Lois unpack the nuances behind the numbers, the realities of implementation, and the costs — both financial and social.
• Tick-a-box vs Outcomes - are documented risk assessments necessary? 23.06.2025 30m

  Don't give me rules, give outcomes; don't ask for risk assessments. This episode explores the effectiveness or otherwise of rules-based legislation versus principles-based legislation intended for anti-money laundering. Will financial institutions find it easier to apply or not? A related regulatory requirement is to draft extensive risk assessments. Do we consult them when a risk occurs? Businesses manage their risks anyway - why do they need it to be documented? An opinion is given on whether the financial impact of money laundering is ever factored into published economic statistics such as GDP. Join Dawn as she speaks with Louize Hermitage-Holt and Aziz Boghani from The Goose.
• Is the Rule of Law Crumbling? 13.08.2025 9m

  According to the World Justice Project, 2024 marked the seventh consecutive year of global rule-of-law decline. From South Africa to the United States, from Europe to Latin America, the trends are worrying… and the consequences could shape global compliance for years to come. If powerful individuals can escape consequences in the world’s leading democracy, what message does that send to countries already on the edge? What do you think? Which trends worry you the most in 2025 — judicial interference, corruption, or civic repression? How does rule-of-law erosion increase risks for compliance professionals?
• The Shame of Shell Companies 13.08.2025 12m

  The empty vessels that are moving billions of dollars supporting criminals. In this episode, we’re diving into a topic that’s both mysterious and infuriating: the use of shell companies, which involves secret wealth, global corruption, and the reason why your country might be losing billions in tax revenue every year. The real shock is that the world’s richest economies are quietly the world’s biggest enablers. It’s not just small islands — it’s the big players that set the rules and then exploit them Enter the fray and take up the fight.
• Hawala: The Invisible Artery of Illicit Finance 01.10.2025 13m

  Hawala is more than a remittance tool - it's a silent counter-economy. Rooted in ancient trust-based systems, the hawala system allows funds to travel across borders without ever entering the formal financial system. For financial criminals, hawala is an off-the-books express lane. For AML professionals, it's the ultimate blind spot. But for foreigners sending money home, it's cheap, fast, and trustworthy.
• Grey list, global scams, and AML realities | Bela Carvalho-Olivier 03.10.2025 32m

  A candid, insider view of AML’s wins, failures and future. ✅ South Africa’s greylisting journey — are we really out of the woods? ✅ The rise of scams as a global, multi-billion-dollar industry. ✅ The real challenges faced by AML professionals on the ground. ✅ Whether SMEs and non-financial businesses can realistically keep up with compliance. ✅ Public perceptions of AML — does it matter to ordinary people? ✅ And if Bela were in charge of the FIC or FATF, what would she change?
• The Compliance Crunch: Tech, Risk & Regulation | Jonnie Davis 17.11.2025 43m

  Where technology, crime, and compliance collide. A sharp, investigative podcast that exposes how technology is reshaping the global fight against money laundering. Hosted by Dawn Pretorius, The Laundromat tackles the fast-evolving world of AML through expert conversations, real-world cases, and bold questions about regulation, innovation, and the launderers who always seem one step ahead.
• Are we fighting crime or feeding the system? | Pieter Rossouw 17.11.2025 52m

  Rethinking the RBA, AML effectiveness, and UBO failures. In this hard-hitting episode, Dawn Pretorius is joined by seasoned financial-crime expert Pieter Rossouw to unpack whether our global AML systems are truly fighting illicit finance — or unintentionally fuelling it. From the misuse of the risk-based approach, to the startling ineffectiveness of the global AML regime, to South Africa’s still-fragile UBO framework, this conversation asks the uncomfortable question: are we solving the problem, or sustaining it?
• A lifestyle audit is just a piece of paper. Why bother? 18.12.2025 21m

  Lifestyle audits are symbolically unsubstantial. Lifestyle audits can be extremely valuable, especially considering the high level of crime within the public sector, and South Africa is a notable example. Many public departments treat audits as mere self-reporting exercises without verification. There is poor follow-through on findings, a lack of mandatory referral to criminal procedures, complications with offshore assets, and political interference. Pretorius concludes that lifestyle audits in South Africa remain largely symbolic rather than substantive, exposing corruption without deterring it. She argues that for lifestyle audits to be effective, they must be backed by law, enforced independently, and result in asset seizure and confiscation. Imagine what could change?
• Are we fighting crime or ticking boxes? | Oonagh van den Berg 19.12.2025 40m

  Discover what FSIs can do (and should do) but don't do, to fight crime. This episode with Oonagh van den Berg of Raw Compliance takes a bold step in re-looking at how we comply with our AML regulatory requirements. Oonagh argues that many current control frameworks are not fully fit for purpose as they were designed for a slower financial world and struggle to keep up with instant payments, embedded finance, crypto, and AI-driven fraud. While these frameworks may be technically compliant, they lack operational effectiveness. The conversation covers issues of overregulation, data fragmentation, the disconnect between compliance and business operations, and the limitations of Financial Action Task Force (FATF) evaluations. Oonagh advocates for a shift from rule-based to data-first, dynamic, and tech-enabled frameworks that can adapt to evolving criminal behaviours. She stresses the importance of compliance officers developing skills in data analytics, technology, and business understanding rather than focusing solely on regulatory knowledge
• How organised crime professionalised in South Africa | Chad Thomas 25.02.2026 27m

  In the first 2026 episode of The Laundromat, Dawn Pretorius speaks to veteran investigator Chad Thomas about how organised crime in South Africa has evolved into structured, corporate-style enterprises. From a billion-rand international boiler room scam to the use of boutiques, barber shops and churches as laundering vehicles, Chad exposes how criminal networks professionalise and scale. He discusses South Africa’s cash-heavy economy, the misuse of POPIA, “tick-box” compliance culture, and the real impact of the country’s removal from the FATF grey list. This episode is a hard look at the financial backbone of organised crime — and why disrupting money flows matters more than ever.
• Drugs move. Money wins | Why financial flows (not drug seizures) describe the global drug war 25.02.2026 18m

  Governments seize tons of drugs every year — yet the global drug trade continues to expand. Why? In this episode of The Laundromat, Dawn Pretorius examines what actually works in the fight against drug trafficking. From border interdictions and crop eradication to international cooperation and demand reduction, she breaks down why the most visible strategies often produce the least structural impact. The core argument is simple: trafficking survives because profits are successfully laundered. As long as money moves through financial systems, trade channels, shell companies, and professional enablers, drug markets regenerate. For AML and compliance professionals, this episode reframes the debate — the real battleground isn’t at the border. It’s in the financial system.
• Under the Radar: Terrorism and Security in South Africa 20.05.2026 19m

  In South Africa, terrorism hasn’t historically taken the form of large-scale, frequent attacks like you’d see in places affected by groups like ISIS or Al-Qaeda. Instead, the threat is lower in frequency but still very real — and evolving. Organised crime networks are deeply entrenched. These networks — while not terrorist in nature — can overlap with terrorism in terms of smuggling routes, forged documents, and illicit financing. SA is a transit point, a funding node, and a recruitment ground. How do we manage this?