Corruption, money laundering, and tax evasion are global problems, not just challenges for developing countries.

Changing much-cherished bank secrecy laws is worth the effort. Corruption, tax evasion, and the capture of natural resource revenues undermine the rule of law, weaken the social fabric, erode citizens' trust in institutions, fuel conflict and insecurity, and hamper job creation.

At the World Bank, we are already working with our clients in developing countries to improve their governance systems, collect taxes, fight corruption, and recover stolen assets.

Sri Mulyani Indrawati Quotes