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. It focuses on anti-money laundering and countering the financing of terrorism (AML/CFT) frameworks, plus related factors that impact the risk of ML/TF, such as corruption, transparency and the rule of law. Overview of 129 countries according to their risk of money laundering and terrorist financing. Interactive ranking revealing trends and changes in risk over time. Research-led, composite index based on public sources and third-party assessments. AML risk assessment tool covering 203 countries for compliance purposes, policymaking and research (Expert Edition).
Mauritius has secured the 85th position in the list of 129 countries, up from its previous spot of 78, with a score of 4.94.
The results of the Basel AML Index 2018 shows that Tajikistan has the highest AML risk, followed by Mozambique, Afghanistan and Laos. The lowest risk countries were the same as last year: Finland followed by Estonia and Lithuania. The greatest improvements comparing to 2017 has been made by Trinidad and Tobago, Tanzania, Bolivia and Ghana and the countries whose scores deteriorated the most in 2018 are Denmark, Iceland, Slovenia, Taiwan (China), Cyprus, South Africa, Portugal and Netherlands.
Money laundering and terrorist financing risks vary greatly from region to region, country to country, and even within countries. However, some key patterns and trends in ML/TF risk can be identified. Key patterns identified includes the following:
- Little measurable progress in countering money laundering
- Effectiveness lags behind technical compliance
- ML/TF is not a standalone risk
- No such thing as zero risk of money laundering
The Basel AML Index 2018 provides important information for the future. It gives insight into the low-risk countries and what can be learnt from them. It further identifies reasons for deteriorating scores of high-risk countries and finally it provides two main reasons behind improvements in ML/TF risk ratings.
Please click HERE for the full Basel AML Index 2018 report.
Source: basalgovernence.org
Photo by Pepi Stojanovski on Unsplash
Relevant Amendments in line with the Finance (Miscellaneous Provisions) Act 2018 The FSC Mauritius posted the following relevant amendments in line …
Business Report: How A Small Island Nation Became Africa’s Business Champion The Business Report published its first-ever independently published investment guide. …
SAC offers compelling new route for fund managers in Bermuda Hedgeweek reported on Incu Global that operates a Segregated Account Company …