Secret Money -- The Shadowy World of Tax Evasion, Capital Flight and Fraud

Preface.
List of Tables, Figures and Exhibits.

1. The World of Secret Money:
 The demand for financial secrecy.
 The supply of financial secrecy.
 The cost of secrecy.
 The price of secrecy.
 Market structure.
 Plan of attack.

2. The Nature of Secret Money:
 The underground economy.
 Internationalization of underground financial flows.
 Secret money vehicles.
  The direct approach.
  The indirect approach.
  The problem of death.
  Summary.

 3. Demand for Secret Money:
 Confidentiality.
 Capital flight.
 Bribery and corruption.
 Tax evasion.
  The Marc Rich case.
 Smuggling.
 Violations of securities laws.
 Fraud.
  Banco Ambrosiano.
 Money laundering.
 International undercover activities.
 Summary.

 4. Supply of Secret Money:
 Elements of supply.
 Patterns of secrecy supply.
 Switzerland.
 Caribbean and South Atlantic:
  Antigua.
  Bahamas.
  Bermuda.
  Cayman Islands.
  Montserrat.
  Netherlands Antilles.
  Panama.
 Other havens.
 Summary.

 5. Combating International Financial Secrecy:
 Self-control.
 Unilateral action:
  The Bank Secrecy Act.
  The Bank of Boston case.
  The E. F. Hutton case.
  New initiatives.
 Patterns of cooperation and external pressure.
  The problem of insider trading.
 External pressure.
 Cooperation.
 Multilateral approaches.
 Summary.

 6. Theory of International Financial Secrecy:
 Secrecy versus expected returns.
 Secrecy versus risk.
 Risk versus returns with secrecy.
 An overall view.
 Marginal costs and benefits.
 Value of secret assets.
 The principal-agent problem.
 Demand and supply.
 The externality problem.
 International trade in financial secrecy.
 Summary.

 7. Consequences: 
 Economic effects.
 Political effects.
 Social effects.
 Personal effects.
 Summary.

 8. The Outlook.
 
Appendix.

Bibliography.

Index.

About the Author.