This week police chiefs, interior ministers, international crime experts from Bulgaria, the rest of South Eastern Europe and EU attended a conference at the Foreign Office in London which heard Jack Straw and David Blunkett pledge Britain's support for a new campaign against international crime in South East Europe. International crime touches on all our countries, whether they be EU Member states, Candidate countries, Asian, African or American.

From the cocaine smuggled in from Colombia to the gangs who transport people, drugs and cigarettes into Britain, the front line of Britain's domestic security lies thousands of miles from our shores. As usual it is the poor who suffer most from global crime. Cocaine may be fashionable in the salons of well off London districts but drug abuse in former mining villages and towns of industrial England is devastating communities. Drug abuse is also increasing in Bulgaria. But perhaps the worst abuse, which demonstrates the pan-european nature of international crime, is that of trading young, insecure women across Central and Eastern Europe into the hands of the most ruthless sex industry exploiters in Western Europe.

Bulgarian agencies cooperate closely with police in Europe and the Americas. Such cooperation must continue, to help strengthen the new armoury being developed to combat global crime. Enhanced extradition procedures, confiscation of the proceeds of crime, and a crackdown on the lawyers who protect international criminals by abusing the legal systems of Europe and America are all strategies we need to bolster. Such cooperation is expected of all member states, and candidates are encouraged to play an active role.

From an economic point of view, the unpalatable fact is that crime pays. Money laundered from crime is estimated to account for 2% to 5% of the global economy or about GBP 1 trillion per year. That is larger than the value of the British economy. Again, this is a worldwide problem. It involved many countries and we must all work together in the battle to stop it. Both British and, I know, American, officials have been working over the last few years with the Bureau of Financial Investigation sharing experience and best practice. But improving systems is not enough. Results matter, and whether it is Britain, US or Bulgaria, we want to see concrete cases of people apprehended for money laundering, prosecuted and brought to justice.

The profitable conduits of global crime are eased by one great secret left on earth that no one is prepared openly to discuss. This is the money taboo - the deeply held belief that ownership of money is no business of anyone other than the owner.

The world's banks have stewardship of trillions of dollars, euros, roubles and pounds but they guard information about ownership of this money more jealously than any secret of state or religion.

In the days of capital controls there were some fire breaks but today 's post-national cyber economy allows money to be stored or to flow without any public interest check or balance.

Owning land or owning shares provides wealth and power but these ownerships are dwarfed by the ownership of money. For centuries it has been accepted that ownership of land could not be a secret matter.

From the Domesday Book to modern land registries, ownership of land is in the public realm. So too, the modern market economy cannot work if ownership of shares is a secret. The most hard-edged market economies send people to prison for trying to hide share ownership.

Britain's position is that all European states, including those not in the EU, should exchange information about EU citizens who have bank accounts in other countries for the purpose of avoiding paying taxes. "Cherchez l'argent" will be the next cry of those who want to make an open, international trading economy work against the fears of the protectionists and the assaults of globalisation's criminal class.

The terrorist, drug-runner, international criminal, tax-dodger and even the low-grade smuggler all got on with their business because collectively we are too nervous to pierce the barrier of money secrecy.

Money laundering protected by banking confidentiality has the effect of corrupting markets and even destabilising the economies of certain states. It is a major obstacle to growth in countries where kleptocratic elites pillage state coffers and assets, and launder the proceeds. Terrorists still exploit poorly regulated financial institutions to fund the murderous activities.

The EU is getting tough on global crime and tough on the associates and accomplices of global crime. The need for a common European campaign against crime becomes ever more urgent - for all of us.

The NGO and business community has a key role to play in raising public awareness of such issues (and I thank CSD for providing the platform for this event today). There are good cops, decent judges and honest government officials in Bulgaria who are courageous in fighting gangs that transit drugs, arms, young women and cigarettes into the richer regions of Europe. But they need help. The best step would be to end the taboo on money secrecy and make money ownership an accountable, transparent component of a modern society.