The Secret Money Market: Inside the Dark World of Tax Evasion, Financial Fraud, Insider Trading, Money Laundering, and Capital Flight

Few aspects of international finance are more fascinating than secrecy. Images flash through the mind of suitcases crammed with currency crossing national boundaries, of close-mouthed couriers slipping easily into and out of airports, hotels and banking offices, of expatriates living handsomely along palm-shaded beaches with no visible means of support, of churning money laundries and quiet slush funds. All find their parallels in the real world. But there are many other, less dramatic but much more important images as well: the tax evader skimming unreported income into an offshore account; the briber shuffling funds to the bribee; the violator of securities laws squirreling away illegal profits; the insecure politician or government official building a retirement fund abroad; the businessman fleeing his creditors; the husband fleeing his wife; the law-abiding citizen fleeing exposure to political or economic risk. All are players in the global financial secrecy game.