A Rough Guide to Money Laundering

A Rough Guide to Money Laundering

From The LRB Podcast by The London Review of Books

May 20, 2026 · 46 min

About this episode

John Lanchester discusses the complexities of money laundering and the hidden cash economy.

More than 90 per cent of transactions in the UK are now cashless, yet there is more cash in circulation than ever before. In the UK, there’s about £1300 circulating for every individual; in the US it’s more than $7000, and the majority of this exists in the highest-denomination banknotes, such as the $100 and €500 bills. So where is it all? Remarkably, nobody really knows, but the assumption is that it’s underpinning much of the world’s criminal activity. John Lanchester joins Tom to talk through the many ways this money is hidden and processed, from the three classic stages of money laundering (placement, layering and integration) to the methods used to bypass banks entirely, through the purchase of agricultural equipment or the use of store cards and cash-only businesses such as vape shops and nail bars. Read John Lanchester on money laundering: https://lrb.me/lanchester052026pod From the LRB Subscribe to the LRB: ⁠⁠https://lrb.me/subslrbpod Close Readings podcast: ⁠https://lrb.me/crlrbpod⁠ LRB Audiobooks: ⁠https://lrb.me/audiobookslrbpod⁠ Bags, binders and more at the LRB Store: ⁠https://lrb.me/storelrbpod⁠ Get in touch: podcasts@lrb.co.uk Learn more about your ad choices…

People in this episode

Host: Tom

Guest: John Lanchester

Topics covered

  • money laundering
  • cashless transactions
  • criminal activity
  • financial systems
  • banking methods

Keywords

  • money laundering
  • cash circulation
  • criminal activity
  • financial methods
  • UK cashless transactions

Mentioned in this episode

Organizations: The London Review of Books

Products: $100, €500

Places: UK, US

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