Our recently released Basel AML Index 2023 says that countries need to supercharge their efforts to understand the evolving financial crime risks of new technologies – especially cryptocurrencies and other virtual assets.

We are pleased to see States embracing the business community in corruption prevention activities in Africa. At a recent anti-corruption conference in Rabat, a new declaration emphasised the importance of the "involvement of all stakeholders, with a shared vision and an action based on collective mobilisation…”. This language underlies the Collective Action approach that we at the Basel Institute have long promoted to increase standards of integrity and fair business around the world.

Mozambique faces critical infrastructure challenges – and opportunities – across all areas of its economy.

Yet the type of high-value procurement and infrastructure projects needed to boost development in the country are well known to be vulnerable to corruption. Risk factors include the high complexity, large transactions and multi-party negotiations that require close cooperation between the public and private sectors.

A high-level meeting of heads of anti-corruption agencies in the Southern African Development Community (SADC) last month was a chance to take stock of member countries’ efforts to tackle corruption.

The meeting allowed for a reflection on many ongoing activities and discussions around Collective Action in the region this year. It was the perfect opportunity to reflect on how to galvanise joint efforts against the region’s biggest scourge.