The Annual Report describes UNAFEI's main activities in 2004. This encompasses its role and mandate, training activities, technical cooperation, research, information and documentation services, publications, and other activities. Information is provided on personnel and finances. Plans for UNAFEI's activities in 2005 are also reported. Papers presented at the 126th International Senior Seminar focus on the theme of countering economic crime, which is framed as a primary threat to the foundations of a country' economic, political, and social stability. The nature of and the response to economic crime is discussed for the following country's: Singapore, India, the United Kingdom, Cameroon, Ghana, Thailand, and Zimbabwe. The forms of economic crime in these countries are identified, and the tactics and structures used to counter them are described. Attention is given to specialized units that concentrate resources of knowledge and expertise in both investigating and prosecuting cases of complex economic crimes. Reports of the seminar are from three groups that addressed the following topics: the problems of serious economic crime in participating countries; problems and countermeasures in investigating and processing cases of economic crime; its prevention; and strengthening the legal framework and countermeasures.