Oliver Bullough at the TRACE London Forum
Bribe, Swindle or Steal
Alexandra Addison-Wrage of TRACE International
4.9 • 582 Ratings
🗓️ 10 September 2025
⏱️ 31 minutes
🧾️ Download transcript
Summary
Speaking at the 2022 TRACE London Forum, Oliver Bullough, author of Butler to the World, discusses the UK's role as an enabler of financial crime, efforts toward accountability, the balance between transparency and privacy, and the weaponization of lawsuits in British courts to silence journalists.
Transcript
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| 0:00.0 | Oliver Bolo is a fantastic author. |
| 0:10.0 | He is a journalist, investigative journalist. |
| 0:13.0 | You wrote the book that ruined my professional life. |
| 0:16.0 | Good. Good. I'm glad to hear it. I'm glad to know it had an impact on the world. |
| 0:19.0 | Having previously written two books that no one read at all, it's nice to know it had an impact. We in the compliance profession spend an enormous amount of time. I don't think most journalists believe this, but we spend an enormous amount of time talking about gifts and hospitality. Whether a gift over a hundred dollars is too much for a government official or if you can mitigate that by putting a logo on it. |
| 0:37.6 | And I don't think people realize that we really do have those conversations. |
| 0:42.1 | I have had oil and gas executives call me at absurd hours to say, I just paid a facilitating payment |
| 0:48.1 | and I'm not sure what to do about it. |
| 0:50.0 | Then I read your book, your first book, Moneyland, fantastic book, recommended to everybody who hasn't read it. |
| 0:56.0 | While we're working on facilitating payments and gifts and hospitality, what you describe is billions of dollars flying over our heads to offshore accounts for the benefit of oligarchs. |
| 1:06.6 | And I thought, okay, somehow you have to help me sync up that story with the work that we're doing and get some sense of how we may collectively make progress on this. |
| 1:17.1 | It is obviously an incredibly important question. |
| 1:20.6 | When you look at the scale of financial crime, kleptocracy, corruption, illicit financial flows in the world, you know, |
| 1:29.3 | hundreds upon hundreds of billions of dollars, trillions of dollars, flowing over our heads, |
| 1:34.3 | beneath our feet around us, through us, all the time. It must feel, if you're working in compliance, |
| 1:41.3 | a little bit like trying to stop a flood with a bucket and spade, the sheer amount |
| 1:45.7 | of what's happening. So I suppose, and I'm quite used to talking to people who work in |
| 1:50.5 | financial services, who, and I'm sure this is not telling you anything new, who see compliance |
| 1:55.5 | as a bit of a nuisance. So a little bit of what I do is trying to tell compliance people that |
| 1:59.4 | they're heroes. They are the thin red line standing between us and complete chaos. |
| 2:07.0 | But considering looking at the financial system as a whole and the world as a whole, |
| 2:12.1 | it does feel a little bit like we've built a castle with a very small amount of extremely |
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