Raymond Baker, Director of Global Financial Integrity in Washington, describes how offshore banks are used to hide stolen money and the proceeds of crime and used by drug cartels to launder their earnings. However, the majority of funds passing through tax havens are international corporate transactions. Corporations use these offshore mechanisms to facilitate tax evasion by assigning costs in high tax jurisdictions and profits in low tax jurisdictions. Baker has become one of the world’s leading advocates for reform of the global financial system.