Fighting the dirt

LEGEND has it that Al Capone used a string of coin-operated launderettes in Chicago to disguise his revenues from gambling, prostitution and protection rackets. Since then, money laundering has grown rapidly. Some $500 billion-1.5 trillion a year (equivalent to 1.5-4.5% of gross world product) generated by illegal activities is washed through the banking system, according to estimates by the International Monetary Fund. Until recently, governments talked tough about the problem, but did little about it. All that changed two years ago, with the birth of a campaign that celebrated a triumph of sorts this week in Paris.