In this episode, Ray Blake, Director at The Dark Money Files, discusses the misconceptions shaping financial crime controls, arguing that technology cannot replace human accountability or eliminate risk. He explores the limitations of the UK’s failure to prevent fraud offence, the need to measure real harm rather than activity, and the importance of consistent supervision across gatekeepers.

Ray also challenges siloed approaches to fraud and AML, warns against automating inefficiency with AI, and urges the industry to anticipate emerging threats.