International financial fraud is growing and is likely to increase in the future. The reasons: rapid internationalization of banking, financial deregulation, and the entry of banks from developing countries into more sophisticated international capital markets, says Robert F. Brodegaard, a managing partner with the New York law firm of Thacher Proffitt & Wood.

Mr. Brodegaard should know. For the past several years, he has spent a good part of his time tracking international fraud in order to recover assets for bilked investors, including banks.

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