"Money laundering, according to IMF estimates for the 1990s, was between 590 billion and 1.5 trillion dollars a year. The proceeds of the drug trade are deposited in the banking system. Drug money is laundered in the numerous offshore banking havens in Switzerland, Luxembourg, the British Channel Islands, the Cayman Islands and some 50 other locations around the globe. It is here that criminal syndicates involved in the drug trade and the representatives of the world's largest commercial banks interact. Dirty money is deposited in these offshore havens, which are controlled by major Western banks and financial institutions which have a vested interest in maintaining and sustaining the drug trade."
Michel Chossudovsky in his book "America's War on Terrorism"