A Torrent of Dirty Dollars

Money laundering is a runaway global industry that serves customers ranging from cocaine cartels to tax-dodging corporations

In Willemstad, the sunny Caribbean capital of the Netherlands Antilles, a banker ushers an American visitor through a hotel casino and into a dining room overlooking the harbor. During refreshments, the prospective customer says he expects a six-figure cash windfall soon and would like to bring the money "quietly" into the U.S. At first the banker responds cautiously. "This money isn't, ah, tainted, is it?" When the American assures him it is not, the officer of the Curacao branch of the French-owned Credit Lyonnais Nederland smiles and orders another tonic water. In that case, says the banker, he can arrange a...

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