Thank you for your question. It's a huge question.
The money that disappears out of developing countries for the most part passes through a global shadow financial system that brings it finally into our western coffers. This shadow financial system was developed by us in the west, beginning in the 1960s. It now comprises tax havens, more than 60 around the world, secrecy jurisdictions allowing tax haven entities to be set up behind nominees and trustees such that no one knows who is the real owner.
These disguised corporations, mostly, now number in the millions around the world. Quite honestly, more of them are in the United States than anywhere else. Anonymous trust accounts are part of this structure. Fake foundations are part of this structure. Money-laundering techniques of various kinds are used. Then the mispricing of trade is the key element in the movement of the commercial tax-evading component of money abroad, which, as I said to you, is about 60% to 65% of the global total. This is the system that operates to facilitate the flow of this money out of developing countries.
Part of my reason for explaining that to you is to make the point that solving this problem is very much a two-way street. It's not just the poor countries that need to develop better tax administrations and customs capabilities and so forth. It's us in the west who need to curtail our receptivity to that kind of money, that comes so easily out of developing countries.
This is one of the things that distinguish us from some other organizations: we stress that the solution to this problem is a two-way street, with a very big part of the problem resting in our own western economies, to curtail our receipt of that money.