Rachel Morgan writes about George Cottrell's new book, How to Launder Money, which takes a satirical look at the world of illicit finance. The book, co-authored by Cottrell, who has personal experience with money laundering, offers a provocative exploration of current anti-money laundering (AML) legislation.
Cottrell's conviction on wire fraud charges in the US led to an eight-month prison sentence following a plea bargain. His involvement in money-laundering accusations has been well-documented. According to sources, including John Crace's parliamentary sketch for The Guardian, Cottrell uses his personal experience to frame the book's narrative. This includes highlighting the perceived shortcomings of global AML laws, which are intended to halt illicit funds but have largely proven ineffective.
The book is presented as a guide on how to avoid mistakes made by Cottrell himself, provocatively blurring the lines between informing authorities and offering insights into successful money laundering methods. It also delves into opaque aspects of political party funding, questioning how easily donations can be obscured, even if not illegal.
Crace's narrative for Cottrell's book outlines various methods of cleaning 'dirty' money, including purchasing fake artworks to legitimate their value and donating them to museums. The book reportedly distinguishes between money laundering and 'grifting', with the latter defined as entirely legal methods of earning money. Examples cited include personalised video messages.
The imagined text also references a £5 million gift to Nigel Farage from a Thai crypto billionaire, which was flagged by the National Crime Agency (NCA) due to money laundering concerns. This underscores the complexities and scrutiny surrounding large financial contributions in the political sphere. The book even speculates on the potential for a UK Prime Minister to facilitate illicit financial flows, turning the UK into a global centre for illegal finance.