At the beginning of the millennium, the Þght against money laundering features very high on the international, and in many countries, also on the domestic, political agenda. The speed with which norm-makers have put in place a set of legal rules designed to Þght the laundering of the pro- ceeds, Þrst from drug trafÞcking, and, later on, of the proceeds from many other criminal activities as well, is impressive. There is of course more than one explanation for the high level of attention the subject of money laundering is receiving. The vigorousness with which authorities beat the drum of the Þght against money laundering should of course be.