The Listening Devices Act was supposed to stop unauthorised bugging. But, according to spy extraordinaire Frank Monte of Monte's Investigation Services, there are ways and means of getting around the Act.

"You can beat the statutes by doing the wrong thing legally," he said. "You can use the law."

Monte has a plush office in Sydney's Australia Square building. No bare boards and blown lightbulbs here. The walls are designer salmon, the chairs deep. On his desk are a box of Dunhill cigars and a large phallic ornament. The man himself dresses expensively; blue suit, chunky gold jewellery and a whiff of eau-de-Cologne. A white raincoat is thrown across a chair.

In more than 20 years in the business, Monte has used people's desire to know - and to be protected - very successfully. He makes, he says, "more than a judge."

In the basement carpark is a Rolls-Royce. Another is at home, along with a Ferrari.

Monte's clients have included the Sheikh of Dubai and the Rockefeller family of the US. He has supplied mercenaries, put together bodyguard corps and more recently trained industrial spies.

Monte says that he is often approached by people with information they want to sell. They want Monte to find a buyer. But it is not that simple, he says. He prefers to put someone into a company to get the right information. The sort of information that people will pay for is details of competitor's trade figures, loans, who the customers are and how much different customers are being charged.

In these days of uncertain stock and money markets, the main targets for industrial espionage are bankers and brokerage firms. A few years ago, it was mineral companies.

Monte's people - he employs about 10 "operatives" at any one time - are debugging premises constantly. According to Monte, mechanically, espionage and counter-espionage are the same thing. Sending someone to work for a stockbroker, for example, for months presents no problem to him.

Monte concedes that he will do some things which other operators won't. He says he can "bug an office from a mile away." But he says he will not do anything illegal. He has his morality, strict guidelines as to what he will and will not do. He sees himself as a businessman, rather than as a private eye. Receiving $40,000 to $90,000 for a job is standard. Others in the business think he overcharges but Monte's philosophy is that his clients are happy to pay it, get results and come back for more. But, then, Monte does no have a very high regard for other spies. "They're not geniuses, these guys...they all think they're James Bond."