[{"data":1,"prerenderedAt":335},["ShallowReactive",2],{"news-basel-institute-and-ecuador039s-attorney-general-sign-cooperation-agreement-to-tackle-acts-of-corruption-and-recover-stolen-assets-91":3,"news-basel-institute-and-ecuador039s-attorney-general-sign-cooperation-agreement-to-tackle-acts-of-corruption-and-recover-stolen-assets-91-similar":70,"i-heroicons:arrow-left-20-solid":330},[4],{"id":5,"status":6,"date_created":7,"date_updated":8,"title":9,"type":10,"body":11,"date":12,"topic":13,"slug":17,"activity":18,"nid":23,"topics":24,"activities":26,"programme":27,"area":27,"websites":28,"language":27,"image":30,"translation_of":27,"countries":42,"tags":65,"authors":66,"images":67,"translations":68,"content":69},9966,"published","2022-05-26T22:57:52.000Z","2026-05-29T22:22:05.000Z","Basel Institute and Ecuador's Attorney General sign cooperation agreement to tackle acts of corruption and recover stolen assets","News","The Basel Institute on Governance is further strengthening its global reputation for independent and practice-oriented expertise in asset recovery. On March 29, Gretta Fenner, Managing Director the Basel Institute, signed an agreement of cooperation with Ecuador’s Attorney General. The objective of the collaboration is to assist and support the Attorney General’s Office in identifying, locating, seizing and repatriating illicit assets arising from acts of corruption or the laundering of assets to the detriment of the Ecuadorian State.\n\nGretta Fenner was accompanied by Oscar Solórzano, the Basel Institute’s Country Manager in Peru, where the Basel Institute operates a country office that, among other, supports asset recovery efforts in Peru and the wider Latin American region.\n\nThe Attorney General of Ecuador, Dr. Carlos Baca Mancheno, underscored that the Basel Institute’s experience in asset recovery represents a very important complement to the activities and the work of his office in this area. He pointed out that Ecuador was inspired to seek support from the Basel Institute from the Institute’s work in other countries in the region. Gretta Fenner stressed that “corruption, in essence, is a human rights violation and the cause of many if not all hurdles to economic and social development. As such combating corruption should be the foremost concern for any government. It is encouraging to see Ecuador taking this matter seriously. We must understand however that asset recovery is a slow and complicated process; we cannot expect results tomorrow.”\n\nThe eruption of several large-scale corruption and money laundering cases in Latin America and other parts of the globe shows that we are far from rooting out corruption. The signing of the agreement takes place against the background of rising demand for hands-on technical assistance in the investigation and prosecution of concrete corruption and money laundering cases, and for the facilitation of international cooperation in legal and judicial matters.","2018-03-30",[14,15,16],"Anti-Money Laundering","Asset Recovery","Public Finance Management","basel-institute-and-ecuador039s-attorney-general-sign-cooperation-agreement-to-tackle-acts-of-corruption-and-recover-stolen-assets-91",[19,20,21,22],"Training","Partnerships","International cooperation","Media releases",91,[14,25,16],"Asset Recovery and Enforcement",[19,20,21,22],null,[29],"Main page",{"id":31,"storage":32,"filename_disk":33,"filename_download":34,"title":35,"type":36,"created_on":37,"modified_on":37,"charset":27,"filesize":38,"width":39,"height":40,"duration":27,"embed":27,"description":27,"location":27,"tags":27,"metadata":41,"focal_point_x":27,"focal_point_y":27,"tus_id":27,"tus_data":27,"uploaded_on":37},"6bd4f455-688f-42c2-95e4-ac45fb04d1c0","local","6bd4f455-688f-42c2-95e4-ac45fb04d1c0.webp","tmp.webp","Basel Institute and Ecuador's Attorney General sign cooperation agreement to tackle acts of corruption and recover stolen assets","image\u002Fwebp","2025-05-12T21:23:56.000Z",43354,1400,862,{},[43],{"id":44,"news_id":45,"countries_id":59},7537,{"id":5,"status":6,"user_created":46,"date_created":7,"user_updated":47,"date_updated":8,"title":9,"type":10,"body":11,"image":31,"date":12,"topic":48,"slug":17,"activity":49,"nid":23,"topics":50,"activities":51,"programme":27,"area":27,"websites":52,"translation_of":27,"language":27,"countries":53,"tags":54,"authors":55,"images":56,"translations":57,"content":58},"03bebfd8-0b40-4a2a-820d-b9d9c13b9de6","3d9ff205-1640-4f34-b5b6-86977f51bbd6",[14,15,16],[19,20,21,22],[14,25,16],[19,20,21,22],[29],[44],[],[],[],[],[],{"id":60,"name":61,"code":62,"latitude":63,"longitude":64},60,"Ecuador","EC",-1.83124,-78.18341,[],[],[],[],[],[71,94,116,139,167,188,227,259,281,309],{"id":72,"body":73,"status":6,"type":74,"date":75,"slug":76,"title":77,"image":78,"countries":79,"topic":80,"activity":81,"tags":83,"nid":84,"topics":85,"activities":86,"authors":87,"images":88,"websites":27,"area":27,"programme":27,"language":89,"translations":90,"translation_of":27,"user_created":46,"date_created":91,"user_updated":27,"date_updated":27,"content":92,"link":93},10617,"As the use of virtual assets accelerates worldwide, so too does their appeal to criminal actors looking to move money faster, hide transactions more effectively and stay one step ahead of enforcement authorities.\n\nAnd it’s natural that when people discuss crypto-related crime, the focus is often on governments, regulators, law enforcement agencies and the private sector – crypto exchanges, financial institutions and blockchain intelligence firms.\n\nWhat about international organisations, non-profits, expert networks and professional associations – what role do they play behind the scenes? And how much impact can they really have when it comes to tackling illicit activity involving virtual assets?\n\nThese questions were at the centre of a [webinar](https:\u002F\u002Fbaselgovernance.org\u002FIOs_virtualassets) co-hosted by the Basel Institute on Governance and the Organization for Security and Co-operation in Europe (OSCE). The discussion brought together experts from the OSCE, the Basel Institute, the Financial Intelligence Unit of Moldova, the United Nations Office on Drugs and Crime (UNODC), and the Global Coalition to Fight Financial Crime.\n\nAcross the discussion, speakers kept circling around the same point: the crypto-crime field does not need more vague talk about cooperation or more one-off awareness workshops. It needs practical, sustained and operational forms of support that help investigators, prosecutors and financial intelligence units respond to increasingly sophisticated criminal activity.\n\n### Beyond awareness raising\n\nA recurring theme throughout the discussion was the gap between recognising the problem and building the capability to address it.\n\nSpeakers noted that crypto-related crime evolves faster than most institutions can adapt. Bots on the Telegram messaging app are now providing money-laundering-as-a-service, as one speaker noted by way of example. Criminal actors – and bots – exploit regulatory gaps, fragmented information-sharing systems and uneven levels of expertise across jurisdictions.\n\nAt the same time, many authorities are still in the early stages of developing operational capacity.\n\nThis is where international organisations and networks can play an important role. Not simply by producing guidance documents or organising workshops and conferences – which are necessary but not sufficient – but by helping countries build practical and lasting capabilities.\n\nThe OSCE shared examples from its regional [project on mitigating the money laundering risks of virtual assets](https:\u002F\u002Fbaselgovernance.org\u002FIOs_virtualassets), which supports participating states across Eastern Europe, the South Caucasus, Central Asia and Mongolia.\n\nOne example was Moldova’s sectoral national risk assessment on virtual assets. Beyond identifying vulnerabilities, the process helped prompt institutional action and legislative development.\n\nThe OSCE also pointed to measurable operational outcomes linked to its capacity-building support. Institutions supported through the programme, for example, traced more than USD 100 million in illicit crypto assets in 2025 alone.\n\n### Why PowerPoint presentations are not enough\n\nSeveral speakers emphasised that complex investigations involving virtual assets and asset recovery require highly specialised expertise that cannot be built through isolated workshops.\n\nInvestigators need opportunities to apply knowledge in real cases. Financial intelligence units need ongoing mentoring and technical support. Prosecutors need to understand not only the technology itself but also how to present complex digital evidence in court.\n\nThe Basel Institute highlighted the importance of long-term engagement with practitioners. The approach of its [International Centre for Asset Recovery (ICAR)](https:\u002F\u002Fbaselgovernance.org\u002Fasset-recovery) includes combining case-centered training with hands-on mentoring, operational support on live cases and efforts to foster collaboration between different government agencies and with the private sector.\n\nTogether with highly effective train-the-trainer programmes, the focus is on helping agencies develop capabilities that can evolve alongside changing technologies and criminal methods, rather than delivering isolated workshops.\n\n### Networks that make cooperation operational\n\nThe webinar also challenged the tendency to talk about “international cooperation” in abstract terms. In practice, it’s difficult to develop trusting relationships between individuals and institutions operating in very different legal and cultural contexts, especially where there are language barriers.\n\nIn this environment, organisations such as the OSCE, Basel Institute, UNODC and the Global Coalition to Fight Financial Crime can act as connectors between sectors, jurisdictions and professional communities. They can:\n\n*   help investigators and practitioners exchange expertise and emerging typologies;\n*   create trusted channels for faster information sharing;\n*   connect authorities facing similar challenges across jurisdictions;\n*   support the development of common standards and approaches; and\n*   bridge gaps between public authorities, financial institutions and technical experts\n\nOne example is the Global Coalition’s proposal to develop a framework for sharing illict crypto wallet attribution data between public authorities – a major need, especially for jurisdictions without the resources to purchase multiple blockchain intelligence tools.\n\n### Research and analysis as a basis for action\n\nAnother important thread running through the webinar was the role of research and evidence-based analysis.\n\nAs technologies and criminal typologies evolve rapidly, policymakers and practitioners need reliable analysis rather than hype or speculation. Speakers discussed how international organisations support countries by analysing emerging threats, identifying trends and helping governments design informed legal and operational responses.\n\nSpeakers highlighted several concrete projects, such as UNODC research into [scam compounds](https:\u002F\u002Ftrack.unodc.org\u002Ftrack\u002Fen\u002Ftrack\u002Fresourcehub\u002F2025\u002Finflection_point_global_implications_of_scam_centres_underground_banking_and_illicit_online_marketplaces_in_southeast_asia.html) and cyber-enabled fraud in Southeast Asia and into the links between [cybercrime and corruption](https:\u002F\u002Ftrack.unodc.org\u002Ftrack\u002Fen\u002Ftrack\u002Fresourcehub\u002F2025\u002Fthe_nexus_between_cybercrime_and_corruption.html), and the Global Coalition’s research on links between gaming and crypto-related financial crime.\n\n### A rapidly evolving challenge\n\nThe webinar closed with a discussion on what aspects of collaboration participants would most like to strengthen in the virtual assets space.\n\nWhile perspectives differed, there was broad agreement that current models of cooperation and capacity building are still not moving fast enough to match the pace of technological change and criminal innovation.\n\nIt’s been said many times, but it warrants saying again: As virtual assets continue to evolve at breakneck speed, so too must the international response.\n\nThe discussion demonstrated that international organisations, non-profits and professional networks can have significant impact – particularly when they focus less on rhetoric and more on operational support, sustained partnerships and measurable outcomes.\n\n### Speakers\n\nWith thanks to our moderator, Vera Strobachova-Budway, Head of the Economic Governance Unit, OSCE, and to our excellent speakers:\n\n*   Erlin Agich, Associate Anti-Corruption Officer, OSCE\n*   Valentin Draganel, Deputy Head, Financial Intelligence Unit Moldova\n*   Alexandru Donciu, Specialist, Financial Investigations – Virtual Assets, Basel Institute on Governance\n*   Fabrizio Fioroni, AML\u002FCFT Advisor, United Nations Office on Drugs and Crime (UNODC)\n*   Michal Gromek, Chair, Digital Assets Task Force, Global Coalition to Fight Financial Crime\n\n### Learn more\n\n*   View the recordings: browse the [full playlist](https:\u002F\u002Fyoutube.com\u002Fplaylist?list=PLYRnhpCcnLP8mqlkcvhkC5kNXuX1M7ax4&si=HeEsEW6u_V9OnsCb) or go straight to individual interventions: [Vera Strobachova-Budway](https:\u002F\u002Fyoutu.be\u002FPyjFVx3Da1I), [Erlin Agich](https:\u002F\u002Fyoutu.be\u002FyxyKjh2qbc0), [Valentin Draganel](https:\u002F\u002Fyoutu.be\u002Ffn-P6Q1Q04Y), [Alexandru Donciu](https:\u002F\u002Fyoutu.be\u002Fi6AoR2bBGGk), [Fabrizio Fioroni](https:\u002F\u002Fyoutu.be\u002FJCET83V2nFk) and [Michal Gromek](https:\u002F\u002Fyoutu.be\u002Fb18ACqpIM64), plus the final [lightning round](https:\u002F\u002Fyoutu.be\u002Fu61VF8rxR5k).\n*   Sign up to the second joint Basel Institute-OSCE webinar on the role of [investigative journalists in tackling crime linked to virtual assets](https:\u002F\u002Fbaselgovernance.org\u002Fjournalism_virtualassets), on 2 June 2026.\n*   Read the OSCE’s [Decoding Crypto Crime – A Guide for Law Enforcement](https:\u002F\u002Foceea.osce.org\u002Foceea\u002F587475) in multiple languages.\n*   Learn more about the [OSCE Virtual Assets project](https:\u002F\u002Fprojects.osce.org\u002Fvirtualassets).\n*   Learn about the Global Coalition’s [Digital Asset Task Force](https:\u002F\u002Fwww.gcffc.org\u002Fsectors\u002Fdigital-asset-task-force-(datf)) and how you can get involved.\n\nThe Basel Institute’s training opportunities are now open to individuals – learn more about short online courses on [crypto and blockchain compliance](https:\u002F\u002Fbaselgovernance.org\u002Fcrypto-aml-training) and [financial investigations and asset recovery](https:\u002F\u002Fbaselgovernance.org\u002Fassetrecovery-openenrolment); plus [postgraduate courses on anti-corruption and asset recovery](https:\u002F\u002Fbaselgovernance.org\u002Fstudy).","Blog","2026-05-19","virtual-assets-real-world-crime-and-the-search-for-effective-responses-2967","Virtual assets, real-world crime and the search for effective responses","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002Fb16bddc0-613b-402f-baca-77cc9a835cd9?width=1000&height=650&format=webp&quality=80",[],[14,15],[82],"Events",[],2967,[14,15],[82],[],[],"English",[],"2026-06-04T21:13:46.000Z",[],"\u002Fresources\u002Fnews\u002Fvirtual-assets-real-world-crime-and-the-search-for-effective-responses-2967",{"id":95,"body":96,"status":6,"type":10,"date":97,"slug":98,"title":99,"image":100,"countries":101,"topic":103,"activity":104,"tags":105,"nid":106,"topics":107,"activities":108,"authors":109,"images":110,"websites":27,"area":27,"programme":27,"language":89,"translations":111,"translation_of":27,"user_created":46,"date_created":112,"user_updated":47,"date_updated":113,"content":114,"link":115},10605,"> These administrative steps are where asset recovery really happens… when dirty assets are transformed into resources that support law enforcement and serve the public good.\n\nWith these words, [Oscar Solórzano](https:\u002F\u002Fbaselgovernance.org\u002Fabout\u002Fpeople\u002Foscar-solorzano), Head of Latin America at the Basel Institute on Governance, captured the often unseen but transformative impact of asset recovery. \n\nHis remark follows a high-level meeting in Peru marking the final phase of a pioneering international agreement.\n\nOn 26 March 2026, the Ministry of Justice and Human Rights of Peru hosted the Meeting of the States Parties to the [Tripartite Agreement between Peru, Switzerland and Luxembourg](https:\u002F\u002Fbaselgovernance.org\u002Fnews\u002Fit-takes-three-tango-switzerland-luxembourg-and-peru-sign-agreement-return-usd-26-million) on the transfer of confiscated assets. \n\nOpened by Minister Luis Enrique Jiménez Borra, the meeting brought together key Peruvian institutions alongside representatives of the Swiss authorities to review progress, assess institutional impact and discuss the next steps towards closure.\n\n### From frozen assets to public benefit\n\nThrough this cooperation, assets derived from corruption cases and previously frozen abroad have been returned to Peru and reinvested in strengthening the justice system. \n\nProjects funded under the agreement have enhanced the capacity to investigate and prosecute corruption and organised crime, improved coordination between institutions and strengthened mechanisms for asset recovery and asset management.\n\nThe National Program for Seized Assets ([PRONABI](https:\u002F\u002Fwww.gob.pe\u002Fpronabi)) has overseen the transparent and accountable administration of these funds, ensuring they directly support institutions at the forefront of combating corruption.\n\nHighlighting the broader significance of the initiative, Minister Jiménez Borra stated:\n\n> International cooperation can turn assets derived from corruption into concrete tools for strengthening justice and public integrity. The Tripartite Agreement shows how recovered assets can be reinvested to benefit citizens and strengthen the rule of law.\n\n### Strong international partnership and Swiss engagement\n\nPeru’s tripartite collaboration with Switzerland and Luxembourg has provided a strong framework for cooperation. It demonstrates how countries can work together to return illicit assets in a transparent and impactful way. \n\nThe Basel Institute on Governance, through its [International Centre for Asset Recovery](https:\u002F\u002Fbaselgovernance.org\u002Fasset-recovery) (ICAR), has played a central role in supporting implementation by providing technical advice and accompanying institutions throughout the process. \n\nPaul Garnier, Ambassador of Switzerland to Peru, noted: \n\n> This meeting provides an important opportunity to review the current status of the project and the progress achieved so far. Switzerland also values the continued technical support provided by the Basel Institute on Governance throughout the implementation of this initiative. \n\nDuring the technical session, Oscar Solórzano and [Límberg Chero](https:\u002F\u002Fbaselgovernance.org\u002Fabout\u002Fpeople\u002Flimberg-chero), a senior member of the Basel Institute’s [Public Finance Management programme in Peru](https:\u002F\u002Fbaselgovernance.org\u002Fpublic-finance-peru), shared reflections on the implementation, impact and sustainability of the projects.\n\nCelso Alfredo Saavedra Sobrados, Executive Coordinator of PRONABI, emphasise that:\n\n> PRONABI has worked to ensure that the restituted funds are administered with transparency, efficiency and accountability, so that they directly contribute to strengthening the institutions responsible for combating corruption.\n\nHe also highlighted the close and timely technical support provided by the Basel Institute on Governance during the implementation of the project.\n\n### Setting a regional example for asset recovery\n\nThe experience demonstrates how sustained international cooperation, combined with targeted technical support, can ensure that recovered assets deliver tangible benefits for citizens and reinforce the rule of law.\n\nIt also offers a compelling example for other jurisdictions, showing that asset return can be both practical and impactful when underpinned by trust, transparency and shared objectives. \n\nThe hope is that this model will inspire further mutually beneficial efforts to return stolen assets and put them to work for the public good.","2026-04-02","where-asset-recovery-really-happens-peru-advances-landmark-restitution-initiative-2949","Where asset recovery really happens: Peru advances landmark restitution initiative","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002Facf1f9c4-3c0f-46da-a4c6-cb846ceacb26?width=1000&height=650&format=webp&quality=80",[102],7806,[15],[21],[],2949,[25],[21],[],[],[],"2026-04-15T22:45:17.000Z","2026-05-29T22:22:39.000Z",[],"\u002Fresources\u002Fnews\u002Fwhere-asset-recovery-really-happens-peru-advances-landmark-restitution-initiative-2949",{"id":117,"body":118,"status":6,"type":74,"date":119,"slug":120,"title":121,"image":122,"countries":123,"topic":124,"activity":125,"tags":127,"nid":128,"topics":129,"activities":130,"authors":131,"images":133,"websites":27,"area":27,"programme":27,"language":89,"translations":134,"translation_of":27,"user_created":46,"date_created":135,"user_updated":47,"date_updated":136,"content":137,"link":138},10608,"_Criminal assets can cross borders in hours, while international asset recovery often struggles to keep pace. The INTERPOL Silver Notice is designed to close this gap by enabling earlier identification and tracing of criminal assets across jurisdictions. Can this new instrument fundamentally change how law enforcement responds to the rapid flight of illicit wealth?_\n\nCriminal funds can be moved across jurisdictions, layered through shell companies or converted into digital assets in a matter of hours. By contrast, international legal cooperation frequently moves at a far slower pace. The mismatch between the speed of asset flight and the pace of enforcement is one of the central reasons why several international bodies estimate that a very high proportion of [criminal assets](https:\u002F\u002Fwww.interpol.int\u002Fen\u002FNews-and-Events\u002FNews\u002F2025\u002FINTERPOL-publishes-first-Silver-Notice-targeting-criminal-assets#:~:text=Valdecy%20Urquiza%2C%20INTERPOL%20Secretary%20General,of%20criminal%20assets%20remain%20unrecovered.) ultimately remain unrecovered.\n\nINTERPOL’s Silver Notices seek to narrow this gap. They provide law enforcement with an early, structured mechanism to identify and trace assets across borders, strengthening one of the weakest stages of asset recovery: the initial [identification of criminal assets](https:\u002F\u002Fbaselgovernance.org\u002Fblog\u002Finterpols-silver-notice-paving-way-improved-asset-recovery). For practitioners dealing with fraud, corruption, money laundering and organised crime, Silver Notices reflect a shift toward treating asset recovery as an enforcement priority rather than merely a consequence of criminal conviction.\n\n### The state of play\n\nINTERPOL launched the Silver Notice as a pilot initiative in January 2025, involving 52 jurisdictions across all regions. [As of November 2025, 133 Silver Notices and 35 Diffusions had been published](https:\u002F\u002Fwww.interpol.int\u002FNews-and-Events\u002FNews\u002F2025\u002FTogether-Against-Crime-INTERPOL-General-Assembly-approves-blueprint-for-future) at the request of 39 countries, linked to suspected financial harm exceeding EUR 30 billion, according to INTERPOL.\n\nSwitzerland does not currently participate in the pilot and therefore does not issue Silver Notices. However, Swiss authorities may still receive Silver Notices and share information through existing police cooperation channels.\n\nIn November 2025, during the 93rd INTERPOL General Assembly in Marrakech, delegates approved the extension of the Silver Notice pilot, allowing additional jurisdictions to participate. For practitioners, this expansion matters: broader participation directly increases the likelihood that assets can be identified and preserved before they are moved beyond the reach of enforcement authorities.\n\n### What is the Silver Notice?\n\nINTERPOL Notices enable countries to share critical criminal intelligence and request operational assistance across borders. A Silver Notice is a non-coercive intelligence tool designed to support the identification and tracing of assets linked to serious criminal offences. It does not, by itself, authorise the freezing, seizure or confiscation of assets. Any such measures must be taken in accordance with national law and applicable judicial procedures.\n\nIn practice, Silver Notices may be used to:\n\n*   flag bank accounts, real estate, corporate holdings and digital assets;\n*   identify beneficial owners or persons exercising control over assets;\n*   enable secure and structured intelligence sharing between participating jurisdictions.\n\n### From identification to legal action\n\nOne of the most persistent challenges in cross-border asset recovery lies in the slow and often complex operation of Mutual Legal Assistance (MLA) mechanisms used to gather evidence or freeze assets. Evidentiary thresholds and procedural requirements vary widely across jurisdictions, and delays in cooperation can allow assets to be dissipated.\n\nWhen a Silver Notice leads to the identification of assets, the jurisdiction in which they are located informs the requesting country and INTERPOL, outlines domestic legal options, and acts within its legal framework. Early bilateral engagement allows investigators and prosecutors to align MLA requests with domestic standards, shortening the transition from intelligence to evidence and from tracing to freezing, helping preserve asset value and improving the prospects of confiscation and victim restitution or compensation.\n\n### Safeguards and limits\n\nBefore any Notice is circulated, it must pass a strict legal compliance review to ensure that it complies with INTERPOL’s Constitution, including the prohibition on matters of a political, military, racial or religious character. These safeguards are essential to maintaining trust between member countries and protecting the system from misuse, particularly in sensitive or high-profile cases.\n\nThe Silver Notice is also deliberately designed to avoid coercive overreach. Key safeguards include:\n\n*   restriction to serious criminal offences;\n*   a requirement for a clear factual link between the assets and suspected criminal conduct;\n*   use within the framework of national legal systems, including judicial or prosecutorial oversight where required.\n\nAt the same time, Silver Notices are not without limitations. For example, in politically sensitive cases, careful scrutiny is required to ensure that asset-tracing requests are not used to advance improper objectives. This makes the robustness and independence of INTERPOL’s compliance review mechanisms particularly important.\n\nUltimately, Silver Notices are not a solution to all asset recovery challenges. Their effectiveness depends on domestic legal framework and the willingness and ability of authorities to act on shared intelligence. They enhance international cooperation, but they do not replace the need for strong national asset recovery regimes or effective MLA processes.\n\n### Closing the enforcement gap\n\nThe speed at which criminal assets move across borders continues to outpace traditional enforcement tools. Silver Notices respond to this challenge by enabling earlier asset tracing and more timely operational engagement between jurisdictions.\n\nMore broadly, Silver Notices reflect an evolving approach to financial crime enforcement that prioritises proactive, intelligence-led intervention over reactive asset recovery at the end of lengthy criminal proceedings. Silver Notices are an enabler, not a shortcut. Used effectively and responsibly, they can strengthen the strategic focus on asset recovery and materially improve the prospects of asset confiscation and victim restitution.\n\n_This blog is also published on the [Hochschule Luzern Economic Crime Blog here](https:\u002F\u002Fhub.hslu.ch\u002Feconomiccrime\u002F?p=6536)._","2026-03-16","interpol-silver-notices-speeding-up-the-tracing-of-criminal-assets-2944","INTERPOL Silver Notices: Speeding up the tracing of criminal assets","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002Fdaf2f81c-8270-46aa-93a2-3a8a469a7420?width=1000&height=650&format=webp&quality=80",[],[14,15],[126],"Insights",[],2944,[14,25],[126],[132],1371,[],[],"2026-04-15T22:45:19.000Z","2026-05-29T22:22:40.000Z",[],"\u002Fresources\u002Fnews\u002Finterpol-silver-notices-speeding-up-the-tracing-of-criminal-assets-2944",{"id":140,"body":141,"status":6,"type":74,"date":142,"slug":143,"title":144,"image":145,"countries":146,"topic":147,"activity":148,"tags":149,"nid":158,"topics":159,"activities":160,"authors":161,"images":162,"websites":27,"area":27,"programme":27,"language":89,"translations":163,"translation_of":27,"user_created":46,"date_created":164,"user_updated":47,"date_updated":113,"content":165,"link":166},10602,"_By J. Edward (Ned) Conway, Executive Secretary, The Wolfsberg Group_\n\nAs virtual assets move into the mainstream of traditional finance, tricky questions arise. What does a reasonable, risk-based control framework look like for banks that provide services to virtual asset service providers (VASPs)? And how can compliance teams strengthen private-to-private information sharing to better detect suspicious activity?\n\nThese were some of the questions tackled by the [Wolfsberg Group](https:\u002F\u002Fwolfsberg-group.org\u002F) at the 9th Global Conference on Criminal Finances and Cryptoassets, organised by the Basel Institute on Governance, Europol and UNODC and held in Vienna on 28–29 October 2025.\n\nThe Wolfsberg Group is an association of 12 global banks that develops frameworks and guidance for the management of financial crime risks. Housed at the Basel Institute on Governance, this long-standing initiative brings together senior financial crime compliance leaders through various working groups, including one dedicated to virtual assets.\n\nThis flagship event provided a valuable platform for the Group to explain its [Stablecoin Guidance](https:\u002F\u002Fwolfsberg-group.org\u002Fresources\u002F204\u002F), gauge interest in a specific Due Diligence Questionnaire focused on VASPs, and further advance efforts to break down silos in private-to-private information sharing.\n\nThis blog summarises some of the key discussions – dialogues that are continuing in dedicated meetings and consultations of the Wolfsberg Group with members, regulators and institutional partners.\n\n### Regulatory clarity as a catalyst for TradFi–VASP relationships?\n\nDay 1 of the conference saw Ned Conway, Executive Secretary of the Wolfsberg Group, moderate a high-level panel discussion featuring representatives from Circle, Bullish and Société Générale on the theme _“Bridging the TradFi–DeFi Gap.”_\n\nThe panel discussed the barriers to relationship building between traditional finance (TradFi) institutions such as banks and VASPs such as cryptocurrency exchanges and stablecoin issuers. The speakers noted that a lack of trust and understanding persists, particularly around risks specific to virtual assets.\n\nThat is one reason that TradFi is slow to onboard VASPs as clients and provide them with the banking services they need in order to operate. However, stablecoins are helping bridge this gap by bringing parts of the crypto universe under regulatory frameworks.\n\nTradFi institutions underlined that they would benefit from clearer scenarios from regulators on where collaboration and information sharing would be permissible between regulated entities and VASPs. Recent [guidance issued by regulators on stablecoins and virtual assets in Asia](https:\u002F\u002Fwww.hkma.gov.hk\u002Fmedia\u002Feng\u002Fdoc\u002Fkey-functions\u002Fifc\u002Fstablecoin-issuers\u002FGuideline_on_supervision_of_licensed_stablecoin_issuers_eng.pdf), in particular, could help improve confidence both ways in the TradFi-VASP relationship.\n\n### Aligning risk appetite, due diligence and monitoring for suspicious activity\n\nOn Day 2, a dedicated Wolfsberg side event brought together VASPs, FinTech firms and traditional banks for in-depth discussions. Representatives from several Wolfsberg member banks – Deutsche Bank, Citi, UBS, Société Générale, and Bank of America – joined the sessions.\n\nThe agenda focused on frameworks for information sharing, but the discussions touched upon a range of hot topics including:\n\n*   risk appetite and the risk-based approach;\n*   payment transparency (i.e. the [travel rule](https:\u002F\u002Fwww.eba.europa.eu\u002Fpublications-and-media\u002Fpress-releases\u002Feba-issues-travel-rule-guidance-tackle-money-laundering-and-terrorist-financing-transfers-funds-and)); and\n*   approaches to monitoring for suspicious activity.\n\nDuring the discussions, participants highlighted that one of the main barriers to effective collaboration between traditional financial institutions and VASPs is a lack of mutual trust. Both sectors face difficulties in interacting with each other.\n\nThe [Wolfsberg Correspondent Banking Due Diligence Questionnaire](https:\u002F\u002Fwolfsberg-group.org\u002Fresources?type=cbddq-fccq&category=questionnaires) (CBDDQ) is useful for setting standards, but onboarding challenges could be overcome by framing risk in common language. Many viewed the current onboarding approaches as fragmented, and expressed strong support for the Wolfsberg Group to develop standardised guidance and a due diligence questionnaire for VASPs.\n\nQuestions remain about what is “reasonable” and “risk-based” for VASPs, especially for smaller institutions, and whether banks should monitor blockchain transactions themselves. VASPs need to be able to articulate their risk appetite, and how this changes as they continue to develop innovative products and services.\n\nVASP participants viewed the Wolfsberg Group’s [Stablecoin Guidance](https:\u002F\u002Fwolfsberg-group.org\u002Fresources\u002F204\u002F) as applicable beyond stablecoin issuers to the wider VASP ecosystem. This is particularly true for the tailored questions on the underlying control environment, and the linking of risk appetite directly to monitoring approaches.\n\n### Improving private-private information sharing on suspicious activity\n\nDiscussion on information sharing between TradFi and VASPs highlighted that this can rely heavily on personal relationships across entities, limiting scalability.\n\nVASPs showed concern around sharing wallet addresses under private-to-private information sharing frameworks, given geopolitical trends and concerns around the EU’s General Data Protection Regulation (GDPR). However, consensus emerged that better data sharing both increases the quality of suspicious activity reports (SARs) and reduces SAR volumes.\n\nParticularly on this latter point, activities often thought to be suspicious in a silo are better understood when viewed from multiple perspectives, confirming the importance of information exchange.\n\n### Continuing to build bridges as the financial system evolves\n\nBridging the gap between TradFi and DeFi remains a central theme in the Wolfsberg Group’s strategy. The Vienna events offered a unique opportunity to engage key stakeholders across the sector and advance this important dialogue.\n\nThe side event was opened by Elizabeth Andersen, Executive Director of the Basel Institute on Governance. The Wolfsberg Group extends its sincere thanks to the Basel Institute for the opportunity to co-host this side event and to participate in the 9th Global Conference on Criminal Finances and Cryptoassets.\n\n### Learn more\n\n*   Learn more about the [Wolfsberg Group](https:\u002F\u002Fwolfsberg-group.org\u002F) and explores its guidance and [resources](https:\u002F\u002Fwolfsberg-group.org\u002Fresources) on managing financial crime risk, including its [Stablecoin Guidance](https:\u002F\u002Fwolfsberg-group.org\u002Fresources\u002F204\u002F).\n*   Learn more about the [9th Global Conference](https:\u002F\u002Fbaselgovernance.org\u002Fnews\u002Fglobal-experts-advance-joint-fight-against-crypto-enabled-crime) and see selected recordings.\n*   Find out about the [10th Global Conference on Criminal Finances and Cryptoassets](https:\u002F\u002Fbaselgovernance.org\u002F10crc) on 15–16 September 2026 in Luxembourg.","2026-02-11","advancing-trust-and-standards-between-banks-and-virtual-asset-service-providers-lessons-from-wolfsberg-group-events-at-the-9th-global-conference-2929","Advancing trust and standards between banks and virtual asset service providers – lessons from Wolfsberg Group events at the 9th Global Conference","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002Fc0f797c0-3af2-47b9-92aa-20efc3f95cce?width=1000&height=650&format=webp&quality=80",[],[14,15],[82],[150,154],{"tags_id":151},{"id":152,"name":153},854,"Virtual assets",{"tags_id":155},{"id":156,"name":157},818,"Anti-money laundering",2929,[14,25],[82],[],[],[],"2026-02-27T15:07:18.000Z",[],"\u002Fresources\u002Fnews\u002Fadvancing-trust-and-standards-between-banks-and-virtual-asset-service-providers-lessons-from-wolfsberg-group-events-at-the-9th-global-conference-2929",{"id":168,"body":169,"status":6,"type":10,"date":170,"slug":171,"title":172,"image":173,"countries":174,"topic":176,"activity":177,"tags":178,"nid":179,"topics":180,"activities":181,"authors":182,"images":183,"websites":27,"area":27,"programme":27,"language":89,"translations":184,"translation_of":27,"user_created":46,"date_created":185,"user_updated":47,"date_updated":113,"content":186,"link":187},10603,"The fight against criminal misuse of cryptoassets enters its next chapter.\n\nJoin us on 15–16 September 2026 for the 10th Global Conference on Criminal Finances and Cryptoassets – held this year in Luxembourg at the European Convention Centre and online.\n\nThis landmark edition will be hosted by Luxembourg’s [Bureau de gestion des avoirs](https:\u002F\u002Fbga.gouvernement.lu\u002Ffr.html) (BGA), alongside the Basel Institute on Governance, Europol and UNODC as co-organisers.\n\nRenowned as a leading global forum, the conference brings together practitioners from across sectors and regions to tackle the evolving threats posed by criminal exploitation of cryptoassets and related services.\n\nExpect cutting-edge insights, candid exchanges and practical solutions aimed at safeguarding individuals, businesses and the integrity of financial systems worldwide.\n\n*   Day 1 – 15 September: Open to experts from all sectors, with a strong focus on public–private collaboration, emerging risks and real-world practice.\n*   Day 2 – 16 September: Reserved for public authorities, including law enforcement, prosecutors, financial intelligence units, asset management offices and regulators, with in-depth case studies and operational insights.\n\n### Learn more\n\n*   See more information on the official [10th Global Conference event page](https:\u002F\u002Fbaselgovernance.org\u002F10crc).\n*   Sign up to the [conference mailing list](http:\u002F\u002Feepurl.com\u002FiCwSMo) to be notified when registration opens.\n*   If you would like to submit a proposal to present, moderate a panel discussion or lead a breakout session, [please use this form](https:\u002F\u002Fforms.gle\u002FvXZjotdYgxbk1oRT6).","2026-02-10","save-the-date-10th-global-conference-on-criminal-finances-and-cryptoassets-2932","Save the date: 10th Global Conference on Criminal Finances and Cryptoassets","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002F7048f59e-5619-4a67-a552-67d57cbf2cb5?width=1000&height=650&format=webp&quality=80",[175],7805,[14,15],[82,20],[],2932,[14,25],[82,20],[],[],[],"2026-02-27T15:07:20.000Z",[],"\u002Fresources\u002Fnews\u002Fsave-the-date-10th-global-conference-on-criminal-finances-and-cryptoassets-2932",{"id":189,"body":190,"status":6,"type":74,"date":191,"slug":192,"title":193,"image":194,"countries":195,"topic":197,"activity":198,"tags":200,"nid":216,"topics":217,"activities":218,"authors":219,"images":221,"websites":27,"area":27,"programme":27,"language":89,"translations":222,"translation_of":27,"user_created":46,"date_created":223,"user_updated":46,"date_updated":224,"content":225,"link":226},10596,"_Our colleague Límberg Chero has played an important role in establishing the Basel Institute’s strong presence in Peru. From the early years – even before a formal office existed in Lima – to his current work with the [Subnational Public Finance Management Programme](https:\u002F\u002Fbaselgovernance.org\u002Fpublic-finance-peru) ([Programa GFP Subnacional](https:\u002F\u002Fwww.gfpsubnacional.pe\u002F)), his journey reflects a great passion for fighting corruption. It began far from the capital, in an ancient town in northern Peru, and was strengthened through rigorous academic training and years of public service._\n\n_This article is part of a series on careers in fighting financial crime and opportunities to learn and study with the Basel Institute._\n\n### The take-off in Peru\n\nMy journey at the Basel Institute on Governance began even before the Lima office existed.\n\nIn 2014, together with colleagues from the Basel Institute – including our dearly missed Managing Director of two decades, Gretta Fenner, and my colleague Óscar Solórzano – we launched a public finance management project funded by the State Secretariat for Economic Affairs of Switzerland (SECO).\n\nAlthough centred on macroeconomics and fiscal policy, its essential goal was to make the public budget tangible and meaningful for citizens.\n\nTo do this, we moved beyond traditional approaches and integrated innovative tools, like the use of behavioural science to prevent corruption and foster integrity in the management of public finances. This comprehensive perspective – a novelty in Peru at the time – was key to the project proposal’s success.\n\nSince then, the Subnational Public Finance Management Programme for regional and municipal governments in Peru has retained SECO’s trust for more than 10 years.\n\nThe secret behind this success lies not only in improved processes and fiscal discipline, but in the continuous work with people committed to change. Internally, the Basel Institute’s team is multidisciplinary, open to change and committed to bridging practice and academic insight.\n\n### Bridging differences for sustainability\n\nWorking at the Basel Institute on Governance is truly a privilege. Our Lima office has gained remarkable regional recognition thanks to a distinctive approach: practical, rigorous and focused on building strong relationships with key actors in the fight against corruption, money laundering and terrorist financing.\n\nI currently lead the Subnational PFM Programme’s Interinstitutional Coordination, ensuring the programme’s effectiveness and, above all, the sustainability of reforms at subnational levels, in alignment with national efforts.\n\nThis work requires the continuous reconciliation of the different “languages”, worldviews and objectives of people across Peru’s diverse regions.\n\nOur aim is to craft strategies and messages that resonate equally to ministries, regional governments and municipalities – aligning technical agendas with political ones, and engaging civil society and academia along the way.\n\nThis challenge becomes more manageable because of my background: I come from an ancient town in northern Peru, Monsefú. Being perceived as someone close yet trained in competitive academic and professional environments fosters trust and legitimacy.\n\n### From economics to a global mission\n\nAs a child, leaving my town felt impossible. Universities were located in other regions and the educational options available largely led to local career paths tied to a modest economy with little real opportunities. At that time, the country had not yet experienced the trade openness or business development it has today.\n\nThrough hard work and the trust of people who believed in me, however, I earned scholarships that allowed me to study in highly competitive environments in Peru’s capital, Lima, more than 1,000 kilometres away from my hometown.\n\nMy foundations were solid: I completed my undergraduate studies in economics and later specialised through the Central Bank’s Economics Programme, which admits only 30 candidates out of thousands of applicants, as well as through an internship at the World Bank in Korea.\n\nI worked as an economist at institutions such as the Ministry of Economy and Finance, the Central Reserve Bank of Peru, the Andean Community (CAN) and the Inter-American Development Bank (IDB).\n\nAt that time, my professional life felt complete: it combined specialised technical work with teaching and active participation in international networks. These included the Andrés Bello Agreement Network, which brought together university researchers from multiple countries to reflect on and advance regional integration in Ibero-America, as well as the Puentes Network, which focused on promoting transparency in investment by Latin American companies.\n\nBut everything changed when I fully grasped the scope of the challenges posed by global corruption. I never imagined my economics degree would only be the starting point of a much bigger journey. From that moment on, my purpose became clear: to dedicate all my experience to strengthening this fight against forces that hinder global prosperity.\n\n### Innovating with little budget\n\nIn Latin America, the Basel Institute is known for results-oriented innovation. I have witnessed firsthand how every new skill quickly finds a practical application and how we can make significant contributions without the need for additional funding.\n\nFor example, I could draw on my Master’s degrees in Process Innovation and Government Control, and in Public Management and Education (Andragogy) to enrich various initiatives we pursued, such as:\n\n*   supporting regional governments in implementing structural reforms in significantly shorter timeframes;\n*   strengthening Peru’s [Public Finance Management Experts Network](https:\u002F\u002Fbaselgovernance.org\u002Fnews\u002Fswiss-support-public-finance-management-experts-network-peru), which was recognised during [Peru’s National Innovation Week](https:\u002F\u002Fbaselgovernance.org\u002Fnews\u002Fperus-innovation-week-showcases-training-concept-our-public-finance-management-team);\n*   and reducing dropout rates and increasing course completion in our Internal Control and Integrity courses through, among other things, the introduction of “virtual coffee breaks”.\n\nDuring the pandemic, we leveraged my background in education to [enhance our online learning and training approach and results](https:\u002F\u002Fbaselgovernance.org\u002Fblog\u002Fhow-design-virtual-training-course-works-your-context-experiences-peru). For example, we started to deliver courses and training across the country via Facebook, a platform that at the time did not charge for mobile data usage and allowed public officials to participate even using low-end mobile phones. These courses have since been integrated into [Basel LEARN](https:\u002F\u002Flearn.baselgovernance.org\u002F) – the Basel Institute’s online training and learning hub.\n\nTogether, these efforts enabled us to develop courses that reached more than 6,000 participants in five years – all without additional funding.\n\n### It’s all about people\n\nMy work has focused on ensuring the sustainability of tangible improvements to public finance management that the PFM Programme’s experts helped implement in areas as varied as:\n\n*   distribution of vaccines and educational materials for children;\n*   property tax collection in major cities;\n*   restitution of confiscated funds;\n*   and the fight against “green corruption”.\n\nIn this context, the most valuable asset is our network. I have more than 20,000 contacts on my business phone – all professionals who directly or indirectly contribute to the Programme’s goals, and above all, friends committed to building a better Peru.\n\nThis network generates mutual benefits: it enables the rapid dissemination of good practices, drastically reduces event preparation costs (we secure many venues at zero cost) and ensures massive impact.\n\nColleagues across the Basel Institute are a vital part of this network. Our close collaboration has led me to take part in a wide range of diverse and fascinating projects – from serving as a director and writer for several programme-produced videos, to moderating international events on asset recovery, and exchanging methodologies used in public finance management that can be applied to asset recovery and repatriation.\n\n### The foundation that inspires and sustains hope\n\nThe Peruvian context presents unique challenges. There is high political volatility, evidenced by the fact that there have been eight presidents in the past 10 years despite only two presidential elections in that period. This means that “VUCA” (volatility, uncertainty, complexity and ambiguity) and the notion of “chaos” are part of daily life.\n\nYet, beneath this instability lies a “subsoil” of ethically committed public officials and technical professionals who allow progress to continue. They are my daily source of inspiration.\n\nAs I often say: There are more good people than bad – they just make less noise. This reflects a reality: the visible efforts of honest Peruvians provide a stronger foundation than the corruption cases that shake us, even if public perception sometimes suggests otherwise.\n\nIn sum, I am deeply grateful for the privilege of engaging with my country and its challenges through work that strengthens public integrity and the fight against corruption. Thank you, Basel Institute – and its magnificent team around the globe – for allowing me to continue serving the world, and especially my country.\n\n### Inspired?\n\nTake a look at the learning opportunities we offer at the Basel Institute for individuals who are equally passionate about fighting corruption and financial crime:\n\n*   [Basel LEARN](https:\u002F\u002Flearn.baselgovernance.org\u002F) – our online training and learning hub with free eLearning courses and lots more\n*   [Basel STUDY](https:\u002F\u002Fbaselgovernance.org\u002Fstudy) – our postgraduate programmes on anti-corruption and asset recovery with the University of Basel","2026-01-12","a-career-with-purpose-in-public-finance-management-limberg-chero-2905","A career with purpose in public finance management: Límberg Chero","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002F0c87b8d7-c3ce-4c9f-912f-8bde8973453d?width=1000&height=650&format=webp&quality=80",[196],7801,[16],[19,199,126],"eLearning",[201,205,209,213],{"tags_id":202},{"id":203,"name":204},982,"Anti-corruption",{"tags_id":206},{"id":207,"name":208},867,"Financial crime",{"tags_id":210},{"id":211,"name":212},1300,"Education",{"tags_id":214},{"id":215,"name":19},1372,2905,[16],[19,199,126],[220],1366,[],[],"2026-01-12T11:01:44.000Z","2026-01-12T11:01:45.000Z",[],"\u002Fresources\u002Fnews\u002Fa-career-with-purpose-in-public-finance-management-limberg-chero-2905",{"id":228,"body":229,"status":6,"type":74,"date":191,"slug":230,"title":231,"image":232,"countries":233,"topic":235,"activity":236,"tags":237,"nid":246,"topics":247,"activities":248,"authors":249,"images":251,"websites":27,"area":27,"programme":27,"language":252,"translations":253,"translation_of":27,"user_created":46,"date_created":254,"user_updated":255,"date_updated":256,"content":257,"link":258},10597,"_Nuestro colega Límberg Chero ha desempeñado un rol importante en la consolidación de la presencia del Basel Institute en Perú. Desde los años previos a la apertura de la oficina en Lima hasta su trabajo actual en el [Programa GFP Subnacional](https:\u002F\u002Fwww.gfpsubnacional.pe\u002F), su trayectoria refleja un profundo compromiso con la integridad pública y la lucha contra la corrupción. Su camino comenzó lejos de la capital, en un pueblo milenario del norte del país, y se fue forjando a través de una rigurosa formación académica y años de servicio público._\n\n_Este artículo forma parte de una serie sobre carreras vinculadas al crimen financiero y sobre las oportunidades de aprendizaje y formación que ofrece el Basel Institute._\n\n### El despegue en Perú\n\nMi camino en el Basel Institute on Governance comenzó antes de que la sede de Lima existiera.\n\nEn el año 2014, junto a varios colegas del Basel Institute, incluyendo a nuestra recordada Directora General durante 20 años, Gretta Fenner, y mi colega Óscar Solórzano, iniciamos la puesta en marcha de un proyecto de finanzas públicas financiado por la Secretaría de Estado para Asuntos Económicos de la Confederación Suiza (SECO).\n\nAunque el núcleo del proyecto era la macroeconomía y la política fiscal, el objetivo esencial era asegurar que el presupuesto público fuera tangible y significativo para la ciudadanía.\n\nEsto nos obligó a trascender los enfoques tradicionales e integrar herramientas innovadoras, tales como las ciencias del comportamiento, para fomentar la integridad y prevenir la corrupción en la gestión de finanzas públicas. Esta visión integral, una novedad en el país en aquella época, fue vital para el éxito de la propuesta.\n\nDesde entonces, el Programa de fortalecimiento de la Gestión Financiera Pública de gobiernos regionales y locales del Perú ha mantenido la confianza de SECO por más de diez años, una longevidad prácticamente inigualable.\n\nEl secreto de este éxito no radica solo en la mejora de procesos o la disciplina fiscal, sino en el trabajo permanente con las personas que impulsan el cambio. Para ello, el Basel Institute cuenta con un equipo multidisciplinario, abierto al cambio y comprometido con crear puentes entre la práctica y la academia.\n\n### Uniendo lenguajes para la sostenibilidad\n\nTrabajar en el Basel Institute on Governance es un verdadero privilegio. Nuestra oficina en Lima ha logrado una notable aceptación regional gracias a un enfoque de trabajo único: práctico, profundo y enfocado en construir relaciones sólidas con actores clave en la lucha contra la corrupción, el lavado de activos y el financiamiento del terrorismo.\n\nActualmente, lidero la Coordinación Interinstitucional del Programa GFP Subnacional. Mi rol busca asegurar la buena marcha y, sobre todo, la sostenibilidad de reformas en los niveles subnacionales, en coordinación con el nivel nacional.\n\nEsto implica un esfuerzo constante por conjugar los lenguajes, cosmovisiones y objetivos completamente diferentes de personas de las distintas regiones del país.\n\nNuestra meta es crear estrategias y mensajes que sean relevantes tanto para un ministerio, un gobierno regional o una municipalidad por igual, para así alinear las agendas técnicas con las políticas, incluyendo tanto a la sociedad civil como a la academia.\n\nEste desafío se facilita gracias a mi origen: provengo de un pueblo milenario del norte del Perú, Monsefú. El ser percibido como alguien cercano, pero que se pudo formar en ambientes académicos y profesionales competitivos, facilita la confianza y legitimidad.\n\n### De la economía a una misión global\n\nDurante mi niñez, salir de mi pueblo parecía imposible. Las universidades estaban en otra ciudad y solo brindaban la oportunidad de seguir alguna carrera local, enfocada en actividades de una economía poco desarrollada y con escasas oportunidades reales. Por ese entonces, el país no tenía la apertura comercial ni el desarrollo empresarial que tiene hoy.\n\nGracias a mucho esfuerzo y la fe de personas anónimas, pude acceder a becas para formarme en ambientes altamente competitivos en Lima, la capital de Perú, a 1.000 kilómetros de mi ciudad natal.\n\nMi base fue sólida: estudié economía como carrera de pregrado y luego me especialicé con el curso de Economía del Banco Central (donde solo entran 30 de entre miles de postulantes) y haciendo una pasantía en el Banco Mundial en Corea.\n\nLuego trabajé con temas de macroeconomía en instituciones como el Ministerio de Economía y Finanzas, el Banco Central de Reserva del Perú, la Comunidad Andina (CAN) y el Banco Interamericano de Desarrollo (BID).\n\nPor ese entonces, mi vida profesional parecía completa: no solo incluía mis actividades profesionales especializadas, sino que también la docencia y la participación en redes internacionales. Por ejemplo, participaba en el Convenio Andrés Bello, que unía a investigadores de universidades de varios países para reflexionar y actuar en temas de integración en Iberoamérica, y en la Red Puentes, que unía esfuerzos en torno a la transparencia de las inversiones de las empresas translatinas.\n\nPero el giro llegó al entender a fondo los megadesafíos globales de la corrupción. Nunca imaginé que mis estudios en economía serían tan solo el punto de partida de una ruta mucho más importante. Desde entonces, mi propósito ha sido volcar toda mi experiencia para fortalecer la lucha contra los flagelos que impiden la prosperidad global.\n\n### Innovando con presupuesto cero\n\nEl Basel Institute en Latinoamérica se caracteriza por su innovación orientada a resultados. Yo mismo soy testigo de cómo cada nueva habilidad encuentra un espacio de aplicación y permite realizar importantes aportes sin requerir de presupuesto adicional.\n\nPor ejemplo, mis maestrías en Innovación de Procesos y Control Gubernamental y en Gerencia Pública y Educación (Andragogía) han sido canalizadas para enriquecer diversas iniciativas:\n\n*   ayudando a gobiernos regionales a realizar cambios estructurales en plazos mucho menores al promedio;\n*   enriqueciendo la [Red de Expertos GFP](https:\u002F\u002Fbaselgovernance.org\u002Fnews\u002Fswiss-support-public-finance-management-experts-network-peru) del país (iniciativa reconocida en la [Semana Nacional de Innovación de Perú](https:\u002F\u002Fbaselgovernance.org\u002Fnews\u002Fperus-innovation-week-showcases-training-concept-our-public-finance-management-team)),\n*   reduciendo la deserción a la vez que aumentando el número de aprobados en nuestros cursos de Control Interno e Integridad, gracias a la implementación de \"coffee breaks virtuales\".\n\nDurante la pandemia, aprovechamos mi formación en educación para [potenciar una iniciativa de educación y entrenamiento](https:\u002F\u002Fbaselgovernance.org\u002Fblog\u002Fhow-design-virtual-training-course-works-your-context-experiences-peru) que permitía llevar cursos y capacitaciones a todo el Perú a través de Facebook. En ese entonces, la red social no cobraba por el uso de datos móviles y permitía el acceso a todos los funcionarios públicos, incluso si solo tenían celulares de gama baja. Ahora, esos cursos se han integrado a [Basel LEARN](https:\u002F\u002Flearn.baselgovernance.org\u002F), la plataforma educativa del Basel Institute.\n\nEn conjunto, logramos implementar cursos que contaron con más de 6.000 alumnos durante cinco años, todo sin usar presupuesto adicional.\n\n### La importancia de las redes de contacto\n\nMi labor ha estado enfocada en asegurar la sostenibilidad de mejoras tangibles desarrolladas por los expertos del Programa GFP en temas tan variados como:\n\n*   la distribución de vacunas y materiales educativos a niños,\n*   la recaudación predial en ciudades principales,\n*   la restitución de fondos decomisados\n*   y la lucha contra la \"corrupción verde\".\n\nEn este contexto, lo más valioso es la red de trabajo. Actualmente, tengo más de 20 mil contactos en mi teléfono, todos profesionales relevantes directa o indirectamente en la actividad del Programa GFP, pero principalmente amigos comprometidos con el ideal de un Perú mejor.\n\nEsta gran red genera beneficios mutuos, ya que permite la difusión de buenas prácticas, reduce drásticamente los costos de preparación de eventos (tenemos muchos locales a costo cero) y asegura un impacto masivo.\n\nLos colegas dentro del mismo Basel Institute son también parte importante de esta red. Nuestra estrecha colaboración me ha llevado a participar en proyectos tan diferentes e interesantes como director y guionista en varios videos producidos por el programa, moderar eventos internacionales de recuperación de activos e intercambiar metodologías usadas en finanzas públicas para la recuperación y repatriación de activos.\n\n### La base que inspira y sostiene la esperanza\n\nEl contexto peruano presenta retos únicos. Hay una alta volatilidad política, evidenciada por el hecho de haber tenido ocho Presidentes en los últimos diez años, cuando en teoría elegimos uno cada cinco años. Esto hace que los entornos “VUCA” (volátiles, inciertos, complejos y ambiguos) y conceptos como “caos” cobren un sentido literal en nuestro día a día.\n\nNo obstante, existe un \"subsuelo\" de funcionarios y técnicos éticamente responsables que permite que el trabajo avance y que me inspira día a día.\n\nComo suelo decir en mis charlas: \"Los buenos somos más, pero hacemos menos bulla.\" Esta frase refleja la realidad: el esfuerzo visible de los peruanos honestos es una buena base que supera en valía a los casos de corrupción que nos golpean, aunque muchas veces la percepción nos diga lo contrario.\n\nEn suma, el privilegio de aproximarme al país y a sus desafíos, implementando temas que sé que aportan al fortalecimiento de la integridad pública y la lucha contra la corrupción, hace que agradezca la oportunidad:\n\nGracias, Basel Institute, gracias a su grandioso equipo en todo el mundo, por la oportunidad de seguir sirviendo al mundo y, especialmente, a mi país.\n\n### ¿Te gustó esta historia?\n\nSi también te interesa o apasiona dedicarte a la lucha contra la corrupción y el crimen financiero, te invitamos a revisar la oferta educativa del Basel Institute:\n\n*   [Basel LEARN](https:\u002F\u002Flearn.baselgovernance.org\u002F): nuestra plataforma de aprendizaje en línea, con cursos virtuales gratuitos y otros recursos\n*   [Basel STUDY](https:\u002F\u002Fbaselgovernance.org\u002Fstudy): nuestros programas de postgrado en anti-corrupción y recuperación de activos, dictados en conjunto con la Universidad de Basilea","una-carrera-con-proposito-en-gestion-de-finanzas-publicas-limberg-chero-2904","Una carrera con propósito en gestión de finanzas públicas: Límberg Chero","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002Fa52c7090-9a50-4ebc-88ce-177c6e84f215?width=1000&height=650&format=webp&quality=80",[234],7802,[16],[19,199,126],[238,240,242,244],{"tags_id":239},{"id":203,"name":204},{"tags_id":241},{"id":207,"name":208},{"tags_id":243},{"id":211,"name":212},{"tags_id":245},{"id":215,"name":19},2904,[16],[19,199,126],[250],1367,[],"Espanol",[],"2026-01-12T11:01:46.000Z","115250da-6c1d-42e7-888a-fbbe909fc524","2026-06-05T15:48:47.000Z",[],"\u002Fresources\u002Fnews\u002Funa-carrera-con-proposito-en-gestion-de-finanzas-publicas-limberg-chero-2904",{"id":260,"body":261,"status":6,"type":74,"date":262,"slug":263,"title":264,"image":265,"countries":266,"topic":27,"activity":27,"tags":267,"nid":27,"topics":268,"activities":269,"authors":271,"images":272,"websites":273,"area":274,"programme":27,"language":89,"translations":276,"translation_of":27,"user_created":277,"date_created":278,"user_updated":27,"date_updated":27,"content":279,"link":280},10592,"\u003Cp>In a world that feels increasingly unsettled, with rising concerns over corruption, organised crime and illicit finance, it is encouraging to see that the Basel AML Index does not show global money laundering risks getting worse. The average score across all jurisdictions has even improved slightly – and in today’s climate even a modest hint of progress is worth noting. \u003C\u002Fp>\n\n\u003Cp>Still, we all know that global averages are hardly meaningful. What matters is what people experience in their own countries and regions, where threats like corruption, fraud, environmental crime and drug trafficking continue to evolve fast and affect their everyday lives. \u003C\u002Fp>\n\n\u003Cp>I have spent more than two decades working to strengthen governance and the rule of law around the world, and I have seen firsthand the power of data and evidence to drive change. With respect to complex topics such as corruption, money laundering and other financial crimes, this is no simple task. They are difficult to define, to quantify and to track over time. But unless we make a sincere effort to assess the risks, and acknowledge where the gaps and uncertainties lie, policymakers and practitioners are left working in the dark. \u003C\u002Fp>\n\n\u003Cp>This is the purpose of the Basel AML Index. It is not a simple score to be copy-pasted into a risk assessment or put out in a press release. It is a tool to explore what lies behind a jurisdiction’s risk profile. Many users rely on the headline Public Edition score, but there is much to be gained by looking deeper. The Expert Edition, free for the public sector, non-profits, academia and the media, and reasonably priced for private firms, gives an overview of all 17 indicators and supports more informed decisions. \u003C\u002Fp>\n\n\u003Cp>Look behind the curtain and you will see that the Basel AML Index recognises that tackling money laundering is not only about laws, regulations and enforcement. It also depends on independent political and legal systems, a free and active media and real accountability in the public sector. These elements are essential to a jurisdiction’s resilience to financial crime, so the Basel AML Index incorporates measures of these as well as other factors more commonly associated with financial crime. \u003C\u002Fp>\n\n\u003Cp>Measurement alone, however, is not enough; it is just the starting point for progress. That is why the Basel Institute works directly with partner countries to help them understand their risks and strengthen their resilience to money laundering and related financial crimes. We often undertake this work in the context of preparations for Financial Action Task Force (FATF) evaluations or ongoing efforts to leave the FATF grey list.\u003C\u002Fp>\n\n\u003Cp>Last month we welcomed Mozambique’s exit from the grey list after intensive work by our team and other partners to support improvements in the country’s anti-money laundering framework and asset recovery capacity. Similar assistance is underway with other partner countries, and we continue to engage with FATF-style regional bodies such as GAFILAT and ESAAMLG as an active observer member. \u003C\u002Fp>\n\n\u003Cp>If we can say one thing for sure about the future, it is that financial crime will continue to evolve at speed. But I remain hopeful, because progress in tackling it is possible when decisions are rooted in solid evidence. By shedding light on the underlying factors driving money laundering risks at the jurisdiction level, the Basel AML Index aims to help focus attention and resources where they matter most. \u003C\u002Fp>\n\n\u003Cp>\u003Ca href=\"https:\u002F\u002Findex.baselgovernance.org\u002F\">Explore the Basel AML Index\u003C\u002Fa> and \u003Ca href=\"https:\u002F\u002Fbaselgovernance.org\u002Fpublications\u002Fbasel-aml-index-2025\">download this year's report\u003C\u002Fa>.\u003C\u002Fp>\n","2025-12-11","elizabeth-andersen-foreword-to-the-basel-aml-index-report","Elizabeth Andersen: Foreword to the Basel AML Index report","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002Fed3f18dd-4ed7-474a-911d-3048d406faf7?width=1000&height=650&format=webp&quality=80",[],[],[14],[270],"Basel AML Index",[],[],[270],[275],"Asset Recovery & Enforcement",[],"545a204d-e41b-4882-afda-481ecf3fd971","2025-12-11T09:55:09.000Z",[],"\u002Fresources\u002Fnews\u002Felizabeth-andersen-foreword-to-the-basel-aml-index-report",{"id":282,"body":283,"status":6,"type":74,"date":284,"slug":285,"title":286,"image":287,"countries":288,"topic":27,"activity":27,"tags":289,"nid":27,"topics":293,"activities":294,"authors":295,"images":297,"websites":298,"area":299,"programme":301,"language":89,"translations":303,"translation_of":27,"user_created":277,"date_created":304,"user_updated":305,"date_updated":306,"content":307,"link":308},10588,"\u003Cem>The following are key findings of the 14th Basel AML Index Public Edition – an independent, data-based ranking of money laundering and related financial crime risks worldwide. \u003C\u002Fem>\u003Cem>Risk, as measured by the Basel AML Index, is defined as a country's vulnerability to money laundering and related financial crimes and its capacities to counter these threats. The Index does not attempt to measure the actual amount of money laundering activity. \u003Ca href=\"https:\u002F\u002Findex.baselgovernance.org\u002Fdownloads\">Download the full report and related resources.\u003C\u002Fa>\u003C\u002Fem>\n\n### Not a race to the bottom – but a slow drift towards the middle\n\n\u003Cstrong>The global average score in the Basel AML Index improved only slightly in 2025\u003C\u002Fstrong>, from 5.30 to 5.28 (on a 0–10 scale where 10 equals maximum risk). The change is statistically insignificant. However, the fact that the global average is not \u003Cem>worsening \u003C\u002Fem>offers some reassurance that efforts to counter money laundering are not being entirely outpaced by fast-moving threats, including the rising use of virtual assets and artificial intelligence for illicit purposes.\n\n\u003Cstrong>Thirteen new jurisdictions were added to this year’s \u003Ca href=\"https:\u002F\u002Findex.baselgovernance.org\u002Franking\">Public Edition\u003C\u002Fa> \u003C\u002Fstrong>due to an increase in available data, bringing the total number covered to 177. Myanmar, Haiti and the Democratic Republic of the Congo remain at the top of the risk ranking. Finland is newly crowned as the lowest-risk jurisdiction for money laundering this year, despite a modest increase in its risk score, followed by Iceland and San Marino.\n\nOf the jurisdictions already assessed in last year’s Public Edition, 54 percent (88 jurisdictions) improved their risk scores this year. Forty-three percent (71 jurisdictions) saw their scores worsen and 3 percent (five jurisdictions) remained unchanged.\n\n\u003Cstrong>Overall, the global picture shows a slow drift towards the middle\u003C\u002Fstrong>. Improvements among several higher-risk jurisdictions – particularly in Africa – are encouraging, but they are offset by gradual declines among historically strong performers.\n\n### How jurisdictions performed across different risk domains\n\n\u003Cstrong>There was modest progress in the strength and quality of AML\u002FCFT\u002FCPF frameworks globally\u003C\u002Fstrong>, with the average risk level improving from 5.58 to 5.54. Risk levels in corruption and fraud also edged down (5.12 to 5.09).\n\n\u003Cstrong>One of the most notable deteriorations occurred in the area of financial transparency and standards\u003C\u002Fstrong>, highlighting growing concerns about beneficial ownership transparency and weaknesses in tax and financial regulation. This is particularly troubling at a time when mechanisms for evading oversight – such as the use of virtual assets (see page 19) – are expanding. Risks related to public accountability also increased slightly, from 4.23 to 4.35.\n\nIn terms of political and legal risks, the lack of meaningful change in the global average (from 4.45 to 4.46) masks significant variation between regions and individual jurisdictions.\n\n### Regional picture\n\n\u003Cstrong>Four regions saw their average risk scores increase\u003C\u002Fstrong>: North America, the EU and Western Europe, Eastern Europe and Central Asia, and the Middle East and North Africa.\n\n\u003Cstrong>In the EU and Western Europe, roughly 40 percent of jurisdictions received worse scores than last year\u003C\u002Fstrong>. While most remained in the same risk category, their worsening scores suggest that historically strong performers may now be stagnating or slipping back.\n\nIn contrast, Sub-Saharan Africa, South Asia, East Asia and the Pacific, and Latin America and the Caribbean saw small overall improvements.\n\n\u003Cstrong>Sub-Saharan Africa stands out\u003C\u002Fstrong>. Despite a still elevated regional average score (6.14), 70 percent of jurisdictions in this region improved significantly in 2025, and six left the FATF grey list after demonstrating improvements in their AML\u002FCFT frameworks. Seven of the top ten global improvers are African countries, and two – Burkina Faso and Côte d’Ivoire – moved from the higher to the medium risk category.\n\n\u003Ctable>\n\u003Ctbody>\n\u003Ctr>\n\u003Ctd>\n\u003Cstrong>Top 10 improvers (score ↓) \u003C\u002Fstrong>\n\u003C\u002Ftd>\n\u003Ctd>\n\u003Cstrong>Top 10 decliners (score ↑) \u003C\u002Fstrong>\n\u003C\u002Ftd>\n\u003C\u002Ftr>\n\u003Ctr>\n\u003Ctd>\n\u003Cp>\u003Cstrong>Liberia, Mozambique, \u003C\u002Fstrong>\u003Cstrong>Burkina Faso, \u003C\u002Fstrong>\u003Cstrong>Nigeria, Mali, \u003C\u002Fstrong>\u003Cstrong>Tanzania, Côte d’Ivoire, \u003C\u002Fstrong>\u003Cstrong>Armenia, \u003C\u002Fstrong>\u003Cstrong>Philippines, \u003C\u002Fstrong>\u003Cstrong>Croatia \u003C\u002Fstrong>\u003C\u002Fp>\n\u003C\u002Ftd>\n\u003Ctd>\n\u003Cp>\u003Cstrong>Kazakhstan, \u003C\u002Fstrong>\u003Cstrong>Lithuania, Taiwan (Chinese Taipei), \u003C\u002Fstrong>\u003Cstrong>Serbia, Costa Rica, Germany, \u003C\u002Fstrong>\u003Cstrong>Suriname, \u003C\u002Fstrong>\u003Cstrong>Barbados, \u003C\u002Fstrong>\u003Cstrong>Greece, \u003C\u002Fstrong>\u003Cstrong>Nicaragua \u003C\u002Fstrong>\u003C\u002Fp>\n\u003C\u002Ftd>\n\u003C\u002Ftr>\n\u003C\u002Ftbody>\n\u003C\u002Ftable>\n\n### A more nuanced understanding of risk levels\n\nThe overall picture is not one of global decline, but of a gradual clustering in the middle of the risk spectrum. This underscores the need for clearer distinctions between risk categories. For that reason, the \u003Ca href=\"https:\u002F\u002Findex.baselgovernance.org\u002Fexpert-edition\">Expert Edition of the Basel AML Index\u003C\u002Fa> introduces a more balanced three-tier system this year, replacing the broad middle band that previously captured most jurisdictions.\n\u003Cp>The change reduces the overcrowding in the “medium risk” category and improves comparability between jurisdictions.\u003C\u002Fp>","2025-12-08","key-findings","Key findings of the Basel AML Index 2025","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002F989a19a3-3c43-42e7-a7eb-b716058a6c3f?width=1000&height=650&format=webp&quality=80",[],[290],{"tags_id":291},{"id":292,"name":270},1346,[14],[270],[296],1363,[],[270],[275,300],"Business Integrity & Governance",[302],"International Centre for Asset Recovery",[],"2025-12-05T11:07:25.000Z","b0662e2a-864d-4888-a1b7-4342b7570b30","2026-06-03T21:58:45.000Z",[],"\u002Fresources\u002Fnews\u002Fkey-findings",{"id":310,"body":311,"status":6,"type":74,"date":284,"slug":312,"title":313,"image":314,"countries":315,"topic":27,"activity":27,"tags":316,"nid":27,"topics":317,"activities":318,"authors":319,"images":321,"websites":322,"area":323,"programme":324,"language":89,"translations":325,"translation_of":27,"user_created":277,"date_created":326,"user_updated":277,"date_updated":327,"content":328,"link":329},10589,"This feature appears in the 2025 Basel AML Index Public Edition report. \u003Ca href=\"https:\u002F\u002Findex.baselgovernance.org\u002Fdownloads\">Download the full report and related resources\u003C\u002Fa>.\n\n\u003Cblockquote>\n\u003Ch3>Key takeaways \u003C\u002Fh3>\n\n\u003Cul>\n\t\u003Cli>\u003Cstrong>A risk-based approach has long been at the core of efforts to mitigate risks of financial crimes \u003C\u002Fstrong>like money laundering and terrorist financing. But application of the approach has been uneven, often focusing too heavily on high-risk areas while paying too little attention to where risks are lower. \u003C\u002Fli>\n\t\u003Cli>\u003Cstrong>Global AML\u002FCFT standards now place stronger emphasis on applying the risk-based approach \u003C\u002Fstrong>\u003Cstrong>\u003Cem>proportionately\u003C\u002Fem>\u003C\u002Fstrong>, encouraging the use of simplified measures in lower-risk situations. \u003C\u002Fli>\n\t\u003Cli>\u003Cstrong>Many financial institutions and authorities find it difficult to assess or provide guidance on what constitutes lower risks \u003C\u002Fstrong>in specific contexts. This limits the use of simplified measures and adds to compliance burdens. \u003C\u002Fli>\n\t\u003Cli>\u003Cstrong>The Basel AML Index’s updated risk classification offers a more nuanced, data-driven way \u003C\u002Fstrong>to identify lower-risk jurisdictions and to support the application of a proportionate risk-based approach. \u003C\u002Fli>\n\u003C\u002Ful>\n\u003C\u002Fblockquote>\n\n\n### Proportionality: why clarity on lower-risk jurisdictions matters\n\nThe \u003Ca href=\"https:\u002F\u002Fwww.fatf-gafi.org\u002Fen\u002Ftopics\u002Ffatf-recommendations.html\">risk-based approach\u003C\u002Fa> has become the backbone of efforts to prevent money laundering, terrorist financing and related financial crimes. Its logic is straightforward: understand the different levels of risk, then apply stronger or lighter controls as appropriate.\n\nYet in many jurisdictions as well as in the private sector, the risk-based approach is not used as effectively as intended. Most attention is placed on identifying \u003Cem>high-risk \u003C\u002Fem>clients, products or jurisdictions – for example, through the FATF’s black and grey lists, international sanctions regimes or high-risk lists. By contrast, there has been much less discussion about what should count as \u003Cem>lower risk\u003C\u002Fem>.\n\nThis gap matters because lower-risk situations are where simplified measures should be used by financial institutions. If they are not, resources are not used efficiently and people or organisations can be unjustifiably \u003Ca href=\"https:\u002F\u002Fwww.fatf-gafi.org\u002Fen\u002Fpublications\u002FFinancialinclusionandnpoissues\u002Fguidance-financial-inclusion-aml-tf-measures.html\">excluded from accessing financial services\u003C\u002Fa>. Yet financial institutions often hesitate to use simplified measures out of fear that they may not be accepted by supervisors, which may not have clearly articulated their own risk tolerance.\n\nThe FATF, which sets global AML\u002FCFT standards, has recognised this imbalance and the unintended consequences. \u003Ca href=\"https:\u002F\u002Fwww.fatf-gafi.org\u002Fen\u002Fpublications\u002FFatfrecommendations\u002Fupdate-standards-promote-financial-conclusion-feb-2025.html\">Updates to its Recommendations\u003C\u002Fa> this year encourage jurisdictions not only to \u003Cem>consider \u003C\u002Fem>allowing simplified measures for lower-risk situations but to actually \u003Cem>allow and encourage \u003C\u002Fem>them.\n\nThe FATF has also shifted to using the word \u003Cem>proportionate \u003C\u002Fem>instead of \u003Cem>commensurate \u003C\u002Fem>to describe how controls should be applied. While this may sound like semantics, it does signal a stronger expectation that AML\u002FCFT measures should not be uniform or mechanistic, but carefully calibrated in a way that ensures effectiveness and reduces compliance burdens.\n\n### The missing piece: what exactly is “lower risk”?\n\nEven with this shift, many authorities and financial institutions find it difficult to decide what genuinely counts as lower risk. According to our review of several recent national risk assessments from different regions, and from discussions with public and private-sector experts, several factors contribute to this uncertainty:\n\n- \u003Cstrong>Lack of clear definitions\u003C\u002Fstrong>. The \u003Ca href=\"https:\u002F\u002Fwww.fatf-gafi.org\u002Fen\u002Ftopics\u002Ffatf-recommendations.html\">FATF distinguishes\u003C\u002Fa> between \u003Cem>low risk \u003C\u002Fem>or (where isolated exemptions from AML\u002FCFT measures may be possible) and \u003Cem>lower risk \u003C\u002Fem>(where simplified measures may be appropriate). Most national risk assessments do not draw this distinction.\n- \u003Cstrong>Different approaches\u003C\u002Fstrong>. Some jurisdictions use structured risk scales in their national risk assessments. \u003Ca href=\"https:\u002F\u002Famlcft.bnm.gov.my\u002Fpublications\">Malaysia’s\u003C\u002Fa> national risk assessment, for example, uses a four-band model: high, medium-high, medium and low. Others, such as that of the \u003Ca href=\"https:\u002F\u002Fhome.treasury.gov\u002Fnews\u002Fpress-releases\u002Fjy2080\">U.S.\u003C\u002Fa>, describe risks in narrative form without assigning categories. \n- \u003Cstrong>Unhelpful shortcuts\u003C\u002Fstrong>. Jurisdiction risk models sometimes rely mainly on sanctions lists or lists of offshore centres, which offer a limited picture of financial crime risk.\n\n### Why clearer lower-risk categories support better outcomes\n\nWhen lower-risk jurisdictions and other situations are clearly identified, the benefits are significant:\n\n- \u003Cstrong>Better resource allocation and reduced compliance burdens\u003C\u002Fstrong>. Staff and systems can be better directed towards higher-risk areas instead of being spread thinly.\n- \u003Cstrong>Improved quality of suspicious activity reports\u003C\u002Fstrong>. Financial intelligence units often complain of defensive reporting, i.e. reporting entities submitting large numbers of suspicious activity reports mainly to protect themselves from possible criticism, rather than because the activity is genuinely suspicious. Specifically allowing simplified measures in lower-risk situations would help to reduce this.\n- \u003Cstrong>Less de-risking\u003C\u002Fstrong>. When risk is assessed more accurately, financial institutions are less likely to withdraw services from whole countries or sectors based on broad assumptions.\n- \u003Cstrong>Public authorities \u003C\u002Fstrong>can also distinguish between jurisdictions or regions requiring intense scrutiny in terms of cross-border financial crime risks and those where less close attention is justified.\n\nTo achieve these outcomes, financial institutions need a clear internal framework and risk assessment methodologies, as well as reliable data sources, on which to base their decisions.\n\n### How the Basel AML Index’s updated classification helps\n\nThe \u003Ca href=\"https:\u002F\u002Findex.baselgovernance.org\u002Fexpert-edition\">Expert Edition\u003C\u002Fa> of the Basel AML Index has long provided an independent, data-driven assessment of money laundering and related financial crime risks across jurisdictions.\n\nPreviously it used three fixed risk bands: low, medium and high. This straightforward approach offers stability and simplicity, but may no longer capture the granularity needed by financial institutions and policymakers, especially where the rating drives due diligence or monitoring processes.\n\nFollowing our annual expert review meeting (see page 12), the Expert Edition will now use \u003Cstrong>Jenks natural breaks\u003C\u002Fstrong>, a statistical method that groups jurisdictions according to natural patterns in the data rather than fixed cut-off points. This results in the following categories:\n\n- \u003Cstrong>Lower risk\u003C\u002Fstrong>: < 4.70\n- \u003Cstrong>Medium ris\u003C\u002Fstrong>k: 4.70–6.08\n- \u003Cstrong>Higher risk\u003C\u002Fstrong>: > 6.08\n\n![](https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002F9b974fd1-47e9-49f8-9d2c-9f2ec25bd99c)\n\nThe categories have also been renamed “lower”, “medium” and “higher” to emphasise that risk is relative. This new approach produces a clearer spread across categories and helps users see which jurisdictions fall meaningfully below the global risk pattern.\n\nThe purpose is not to label any jurisdiction as “safe” or “unsafe” but to offer a practical tool that supports geographic risk assessments and the application of proportionate measures. The Index’s underlying data remain available to subscribers. Users can then consider specific indicators relevant to their company’s risk appetite.\n","streamlining-the-risk-based-approach-to-anti-money-laundering-compliance","Streamlining the risk-based approach to anti-money laundering compliance","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002Fd0c794ab-f975-4521-9333-579c5d947048?width=1000&height=650&format=webp&quality=80",[],[],[14],[270],[320],1364,[],[270],[275],[302],[],"2025-12-05T11:16:34.000Z","2025-12-08T07:09:33.000Z",[],"\u002Fresources\u002Fnews\u002Fstreamlining-the-risk-based-approach-to-anti-money-laundering-compliance",{"left":331,"top":331,"width":332,"height":332,"rotate":331,"vFlip":333,"hFlip":333,"body":334},0,20,false,"\u003Cpath fill=\"currentColor\" fill-rule=\"evenodd\" d=\"M17 10a.75.75 0 0 1-.75.75H5.612l4.158 3.96a.75.75 0 1 1-1.04 1.08l-5.5-5.25a.75.75 0 0 1 0-1.08l5.5-5.25a.75.75 0 1 1 1.04 1.08L5.612 9.25H16.25A.75.75 0 0 1 17 10\" clip-rule=\"evenodd\"\u002F>",1780676424666]