The fight against complex financial crimes has evolved, with open-source intelligence (OSINT) becoming a key player. OSINT has shown great potential in revealing illegal activities that cross country borders. A clear example of this is the Cyprus Confidential investigation led by the International Consortium of Investigative Journalists (ICIJ).
International financial crimes are often very difficult to uncover. They involve multiple countries and complicated financial transactions that are not easy to follow. However, with OSINT now being used more often, investigators have new ways to find and understand these crimes.
Understanding OSINT: How It’s different from other methods
Open-source intelligence is a way of finding information that’s openly available to anyone. Unlike surveillance or technology dependant methods used in other types of intelligence, OSINT uses information you can easily find from public sources like social media, online databases, and websites.
The big advantage of OSINT is that it’s cheaper and faster. You don’t need expensive tech or a big team to start digging into publicly available data, you can just quickly grab and use the information that’s already out there. Other methods typically take a lot more time and money.
OSINT works well alongside other intelligence methods. It helps fill in the gaps that other methods might miss because OSINT covers a wide range of freely available information. By combining OSINT with other approaches, investigators can get a fuller picture of the situation they’re looking at.
Inside the Cyprus Confidential investigation
The Cyprus Confidential investigation by ICIJ and 68 media partners is a perfect example of how OSINT can be effectively used to combat financial crime. This investigation involved the analysis of over 3.6 million leaked documents to expose Cyprus as a strategic location used by Russian oligarchs to conceal wealth and potentially evade financial sanctions. By sifting through leaked documents and using resources like OpenCorporates for company data, the investigation showed the complex networks of shell companies and financial transactions designed to hide the oligarchs’ assets.
The Cyprus Confidential investigation showcased the importance of international collaboration in the fight against complex financial crimes. By working together, journalists and researchers can pool their skills, resources, and access to information, significantly enhancing their effectiveness. This collaborative approach, enabled by OSINT, not only helps in piecing together the puzzle of financial crimes but also in raising public awareness about the scale of these illicit activities.
The success of the Cyprus Confidential investigation serves as a powerful reminder of the potential of OSINT in exposing international financial crimes. It demonstrates that with the right skills, resources, and collaborative effort, it is possible to unravel the complex webs of transactions and shell companies that criminals use to hide their assets.
Conclusion
While the battle against complex international crimes is tough, it’s not impossible to win. The Cyprus Confidential investigation by ICIJ and its media partners has demonstrated that OSINT is a very effective tool in this fight. It helps to uncover financial crimes and break through the opacity of shell companies’ structures. Moving forward, using OSINT in collaborative international investigations will be essential in breaking down these complex criminal networks and promoting a fairer and more transparent global economy.
For more information
Visit the ICIJ website: https://www.icij.org/
Visit the OpenCorporates website: https://opencorporates.com/
Or contact our sales team: sales@opencorporates.com
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