1. The challenge of financial transparency Krishen Mehta A developing country perspective

2. Why is recovery of funds so difficult? The principle of layering

3. How does layering affect information exchange? Licit accounts subject to information exchange, but only a small amount Illicit accounts, real owner is unknown, and the majority of the funds are here

4. Who protects these accounts? Switzerland, Singapore, Dubai Island nations like Cayman, Jersey, Isle of Man (UK) Enclaves like Delaware, Wyoming, Florida (US)

5. The cost benefit of "Swiss Banking”

6. Who wins, who loses? Implications, long-term

7. How beneficial are DTAA, TIEA and AEI to developing countries?

8. Some Solutions to Consider A. Rein in the informal economy that feeds into the Hawala system

9. B: Strengthen the beneficial ownership laws in each country, 'un layer' the layers

10. C: Automatic withholding on anonymous accounts, will require cross-border agreements

11. D: Domestic disclosure of overseas bank accounts and other assets

12. E: Strengthening of Financial Intelligence Units (FIU) and AML policies and procedures

13. F: Heavier penalties on banks, financial institutions, and individuals for transgressions

14. 12 Conclusion the way forward...