The Basel Anti-Money Laundering Index is an independent annual ranking that assesses the risk of money laundering and terrorist financing (ML/TF) around the world.
Money laundering continue to cripple economies, distort international finances and harm citizens around the globe. Estimates of the amount of money laundered worldwide range from US$500 billion to a staggering US$1 trillion.
- Tajikistan and Afghanistan are Top countries in AML index
- Portugal and Cyprus have significantly improved their AML compliance.
- Grenada showed greatest improvements in risk score in the Basel AML Index 2018
Basel AML Index 2018: Cyprus is among the top 10 decliners in 2018. https://t.co/9ARsS1iYlL
— Ministry of Finance (@MoF_Cyprus) October 11, 2018
The top 10 decliners in Basel AML Index 2018 are:
| Country | Overall score 2017 | Overall score 2018 | Change in score 2017–2018 |
|---|---|---|---|
| DENMARK* | 2.98 | 4.11 | +1.14 |
| ICELAND* | 3.52 | 4.59 | +1.07 |
| SLOVENIA* | 2.78 | 3.75 | +0.97 |
| TAIWAN, CHINA | 4.34 | 5.15 | +0.81 |
| FINLAND | 1.78 | 2.57 | +0.80 |
| POLAND | 3.62 | 4.38 | +0.77 |
| CYPRUS | 4.26 | 5.01 | +0.75 |
| SOUTH AFRICA | 4.59 | 5.34 | +0.75 |
| PORTUGAL* | 3.95 | 4.66 | +0.72 |
| NETHERLANDS | 4.30 | 4.90 | +0.60 |
*Countries accessed according to the new FATF methodology
Low-risk countries wishing to maintain their low risk ranking, and all countries wishing to improve their ranking, should take guidance in the following characteristics that low-risk countries typically share:
- Strong AML/CFT legislation including on the freezing of terrorist funds
- Competent authorities with the mandate and resources to investigate and prosecute ML/TF offences and issue sanctions for non-compliance
- Comprehensive measures for domestic and international cooperation
- High level of press freedom, with the media playing a central role in uncovering and reporting financial crime
- Financial sector highly regulated with competent supervisory authorities and minimal, if any, cash-based transactions
- High levels of transparency and integrity in public institutions and businesses
- Low levels of corruption
Read more here: https://index.baselgovernance.org/
