But old problems did not disappear. Rivalries among national agencies, weaknesses in the private sector, and differences in approach between US and international regulators, continue. The two agencies who know most about the money trail in Asia - India's CBI and Pakistan's ISI - are not talking to each other.

New laws have given more powers to public and private investigators. But unless new techniques are developed, they may be overwhelmed by the sheer volume of information available.