The experts aim to stimulate discussion of bank secrecy and financial havens but do not necessarily represent the views of the United Nations. They note that many criminals--such as drug traffickers, perpetrators of stock fraud, embezzlers, and commodity smugglers--must launder the money flowing from their crimes. Criminal money is frequently moved abroad and then cycled through the international payments system to obscure the audit trail. The rule in successful money laundering is always to approximate as closely as possible legal transactions. Developments in the international financial system that have made finding, freezing, and forfeiting criminally derived income and assets more difficult are examined. The impact of advances in technology and communications on money laundering is discussed, characteristics of offshore financial centers and bank secrecy jurisdictions are described, and efforts to create greater transparency in financial transactions are noted. Issues meriting further consideration in efforts to control money laundering are outlined that pertain to sovereignty, secrecy, international business corporations, trusts, the lawyer-client privilege, and credit cards. 5 figures and 1 map