[{"data":1,"prerenderedAt":348},["ShallowReactive",2],{"news-is-malta-a-high-risk-or-low-risk-country-for-money-laundering-1002":3,"news-is-malta-a-high-risk-or-low-risk-country-for-money-laundering-1002-similar":101,"i-heroicons:arrow-left-20-solid":343},[4],{"id":5,"status":6,"date_created":7,"date_updated":8,"title":9,"type":10,"body":11,"date":12,"topic":13,"slug":16,"activity":17,"nid":20,"topics":21,"activities":23,"programme":24,"area":24,"websites":25,"language":24,"image":27,"translation_of":24,"countries":38,"tags":63,"authors":80,"images":98,"translations":99,"content":100},9808,"published","2022-05-26T22:55:58.000Z","2026-05-29T22:21:56.000Z","Is Malta a high-risk or low-risk country for money laundering?","Blog","Money laundering risks in Malta have been in the headlines recently.\n\nOne question puzzling commentators is this: why does the [Basel AML Index](https:\u002F\u002Fwww.baselgovernance.org\u002Fbasel-aml-index) rate Malta as a [relatively low-risk country](https:\u002F\u002Fwww.maltatoday.com.mt\u002Fnews\u002Fnational\u002F97286\u002Fmalta_is_low_risk_for_money_laundering_and_terrorist_financing_swiss_index_finds#.XYtEt5Mzai4) for money laundering, when the latest assessment by the Financial Action Task Force (FATF) [criticises](https:\u002F\u002Fwww.riskscreen.com\u002Fkyc360\u002Fnews\u002Fmaltas-anti-money-laundering-regime-fails-final-moneyval-review\u002F) the country’s AML\u002FCFT framework for being ineffective?\n\nThe answer is simple. A new [Mutual Evaluation Report for Malta](https:\u002F\u002Fwww.coe.int\u002Fen\u002Fweb\u002Fmoneyval\u002Fjurisdictions\u002Fmalta) was issued by the FATF on 18 July, shortly after the collection of data for the 8th Public Edition of the Basel AML Index was finalised. Malta’s ranking of 113 out of 125 countries in the Public Edition of the Basel AML Index, where 125 is the best position, therefore did not reflect this new data.\n\n### Why new FATF data can dramatically change risk assessments\n\nFATF Mutual Evaluation Reports are the most important data source for the Basel AML Index, with a 35 percent weight in the total score. (Learn about the [Basel AML Index methodology](https:\u002F\u002Fwww.baselgovernance.org\u002Fbasel-aml-index\u002Fmethodology) and 15 indicators.)\n\nThe new data has therefore had a tremendous impact on the position of Malta in the Basel AML Index. The overall risk score of the country has jumped up from 3.94 to 5.38 out of 10, where 10 is the highest possible risk. Risks related to the quality of the money laundering and terrorist financing (ML\u002FTF) framework in the country also jumped up from 4.48 to 6.70. The new FATF assessment is the main cause for such dramatic changes.\n\nThis does not necessarily indicate a sudden and dramatic deterioration in Malta’s ML\u002FTF risks. It is more likely that it points to longstanding gaps in relation to the effectiveness of the country’s AML\u002FCFT framework that have only just been highlighted by the FATF. A brief analysis of the new FATF report for Malta (see below) supports this conclusion.\n\n### How to obtain more reliable, up-to-date ML\u002FTF risk ratings\n\nThe Public Edition of the Basel AML Index is issued annually and is primarily used to identify trends in AML\u002FCFT and changes in country risk levels over longer periods of time. It covers only 125 countries with sufficient data to calculate a reliable score.\n\nTo properly assess specific country risks related to ML\u002FTF for compliance or policy purposes, we strongly advise using the [Expert Edition](https:\u002F\u002Fwww.baselgovernance.org\u002Fbasel-aml-index\u002Fexpert-edition) of the Basel AML Index. This is updated quarterly (and therefore takes into account the latest FATF data for Malta) and includes all 203 countries around the world. It also allows users to dive deep into individual indicators to see exactly where the risks lie and investigate further if needed. The Expert Edition is free for public institutions, non-profit organisations, academics and others.\n\n### Availability of data – an ongoing challenge\n\nThe case of Malta illustrates the challenge in obtaining quality, up-to-date data to calculate country risk scores for ML\u002FTF. While FATF reports are the most relevant and comprehensive data sets we have for this, they are issued too infrequently.\n\nThe FATF has taken positive steps by increasing the frequency of FATF updates and harmonising the methodology between different regional bodies. It is hoped that with a continuously increased frequency of evaluations by FATF and its regional bodies, we can soon achieve full coverage and as such avoid skewed data due to outdated reports.\n\nThe impact goes far beyond the Basel AML Index as the reports themselves, and the Basel AML Index, directly impact on the due diligence systems implemented by financial institutions and investors.\n\n### Other ML\u002FTF risk factors\n\nBesides FATF data, other important sources in calculating ML\u002FTF risks scores are [Financial Secrecy Index](https:\u002F\u002Fwww.baselgovernance.org\u002Fbasel-aml-index\u002Fmethodology\u002Findicators#3) (FSI) and US State Department [International Narcotics Control Strategy Report](https:\u002F\u002Fwww.baselgovernance.org\u002Fbasel-aml-index\u002Fmethodology\u002Findicators#4) (INCSR) data. The FSI evaluates Malta as a high-risk country in relation to financial secrecy. However, the US INCSR does not label it a major money laundering country.\n\nThe country has also medium level of risks when it comes to [corruption and bribery](https:\u002F\u002Fwww.baselgovernance.org\u002Fbasel-aml-index\u002Fmethodology\u002Findicators#5), based on Transparency International’s Corruption Perceptions Index and TRACE Bribery Risk Matrix Matrix.\n\nIt has low level of risks in public and financial transparency and accountability, as well as political and legal risks.\n\n### Analysis of Malta’s latest Mutual Evaluation Report\n\nThe [Mutual Evaluation Report for Malta](https:\u002F\u002Fwww.coe.int\u002Fen\u002Fweb\u002Fmoneyval\u002Fjurisdictions\u002Fmalta), prepared by the regional AML\u002FCFT monitoring body Moneyval, covers both the technical compliance of Malta's AML\u002FCFT systems according to the FATF’s 40 Recommendations (R) and th the effectiveness of these systems according to 11 “immediate outcomes” (IOs).\n\nMalta’s overall performance in technical compliance is 68 percent.The country is partially compliant with R8, R13, R15, R20, R26, R28, R36 and R38. This reflects moderate shortcomings in relation to preventive measure (corresponding banking, new technologies, reporting suspicious transactions) as well as to regulation and supervision of financial institutions and international cooperation (mutual legal assistance and international instruments).\n\nIn contrast, the overall effectiveness of Malta’s AML\u002FCFT systems was assessed at only 30 percent. It was not assessed as having a high level of effectiveness in any of the 11 IOs.\n\nMalta has demonstrated a particularly low level of effectiveness in relation to IO3, IO7 and IO8. Such results reflect low effectiveness in supervision of the financial institutions and designated non-financial businesses and professions, as well as issues related to the investigation and prosecution of ML offences and activities, and confiscation of proceeds of crime. The country needs substantial improvements to cover these issues.\n\nIt was assessed as having a substantial level of effectiveness in relation to IO2 and IO11. Such results reflect that international co-operation delivers appropriate financial intelligence and that persons and entities involved in the proliferation of weapons of mass destruction are prevented from raising, moving and using funds.\n\n### See more\n\n*   See the [Basel AML Index press release](https:\u002F\u002Fwww.baselgovernance.org\u002Fblog\u002Fbasel-aml-index-2019-too-little-progress-are-aml-systems-effective) and [key trends in 2019](https:\u002F\u002Fwww.baselgovernance.org\u002Fbasel-aml-index\u002Fbasel-aml-index-analysis).\n*   Learn [what FATF Mutual Evaluation Reports reveal about money laundering in 2019](https:\u002F\u002Fwww.baselgovernance.org\u002Fbasel-aml-index\u002Ffatf-analysis).\n\n_Photo of Valletta, Malta by [Ines Bahr](https:\u002F\u002Fwww.pexels.com\u002Fphoto\u002Ftwo-ship-on-body-of-water-near-buildings-2098179\u002F) from Pexels._","2019-09-25",[14,15],"Asset Recovery","Private Sector","is-malta-a-high-risk-or-low-risk-country-for-money-laundering-1002",[18,19],"Basel AML Index","Insights",1002,[22,15],"Asset Recovery and Enforcement",[18,19],null,[26,18],"Main page",{"id":28,"storage":29,"filename_disk":30,"filename_download":31,"title":9,"type":32,"created_on":33,"modified_on":33,"charset":24,"filesize":34,"width":35,"height":36,"duration":24,"embed":24,"description":24,"location":24,"tags":24,"metadata":37,"focal_point_x":24,"focal_point_y":24,"tus_id":24,"tus_data":24,"uploaded_on":33},"46991973-d7d4-4e92-a97b-1c50599ade79","local","46991973-d7d4-4e92-a97b-1c50599ade79.webp","tmp.webp","image\u002Fwebp","2025-05-12T21:21:41.000Z",192024,1400,1000,{},[39],{"id":40,"news_id":41,"countries_id":57},7447,{"id":5,"status":6,"user_created":42,"date_created":7,"user_updated":43,"date_updated":8,"title":9,"type":10,"body":11,"image":28,"date":12,"topic":44,"slug":16,"activity":45,"nid":20,"topics":46,"activities":47,"programme":24,"area":24,"websites":48,"translation_of":24,"language":24,"countries":49,"tags":50,"authors":52,"images":54,"translations":55,"content":56},"03bebfd8-0b40-4a2a-820d-b9d9c13b9de6","3d9ff205-1640-4f34-b5b6-86977f51bbd6",[14,15],[18,19],[22,15],[18,19],[26,18],[40],[51],5405,[53],1257,[],[],[],{"id":58,"name":59,"code":60,"latitude":61,"longitude":62},150,"Malta","MT",35.9375,14.37542,[64],{"id":51,"news_id":65,"tags_id":77},{"id":5,"status":6,"user_created":42,"date_created":7,"user_updated":43,"date_updated":8,"title":9,"type":10,"body":11,"image":28,"date":12,"topic":66,"slug":16,"activity":67,"nid":20,"topics":68,"activities":69,"programme":24,"area":24,"websites":70,"translation_of":24,"language":24,"countries":71,"tags":72,"authors":73,"images":74,"translations":75,"content":76},[14,15],[18,19],[22,15],[18,19],[26,18],[40],[51],[53],[],[],[],{"id":78,"name":79},818,"Anti-money laundering",[81],{"id":53,"news_id":82,"authors_id":94},{"id":5,"status":6,"user_created":42,"date_created":7,"user_updated":43,"date_updated":8,"title":9,"type":10,"body":11,"image":28,"date":12,"topic":83,"slug":16,"activity":84,"nid":20,"topics":85,"activities":86,"programme":24,"area":24,"websites":87,"translation_of":24,"language":24,"countries":88,"tags":89,"authors":90,"images":91,"translations":92,"content":93},[14,15],[18,19],[22,15],[18,19],[26,18],[40],[51],[53],[],[],[],{"id":95,"name":96,"position":24,"image":97},556,"Dr Kateryna Boguslavska","24433c58-4115-4c6c-b220-142b5a1b135b",[],[],[],[102,126,159,182,205,226,249,274,295,315],{"id":103,"body":104,"status":6,"type":105,"date":106,"slug":107,"title":108,"image":109,"countries":110,"topic":111,"activity":113,"tags":115,"nid":116,"topics":117,"activities":118,"authors":119,"images":120,"websites":24,"area":24,"programme":24,"language":121,"translations":122,"translation_of":24,"user_created":42,"date_created":123,"user_updated":24,"date_updated":24,"content":124,"link":125},10616,"From grassroots transparency tools to global business integrity networks, this year’s finalists for the [International Collective Action Awards](https:\u002F\u002Fcollective-action.com\u002Fget-involved\u002Fawards) show the breadth, creativity and growing impact of Collective Action around the world.\n\nPublic voting is now open and everyone is invited to help choose the winners.\n\nThe Awards recognise organisations advancing business integrity through Collective Action – bringing together businesses, governments, civil society and other stakeholders to tackle corruption and strengthen fairer, more transparent markets. The winners will be announced during the [6th International Collective Action Conference](https:\u002F\u002Fcollective-action.com\u002Fget-involved\u002Fevents\u002Ficac-2026) in Basel, Switzerland, on 9–10 June 2026.\n\nPresented by the Basel Institute on Governance since 2022, the Awards celebrate initiatives that demonstrate how Collective Action can deliver practical solutions to shared integrity challenges across sectors and regions.\n\n### A diverse field of finalists\n\nThis year’s finalists reflect the growing diversity of Collective Action initiatives worldwide. They range from long-running international integrity networks supporting small businesses, to innovative digital tools improving transparency in public infrastructure, to emerging platforms creating new opportunities for business engagement in global anti-corruption policymaking.\n\nThe shortlisted initiatives also highlight the geographical reach of Collective Action efforts today, with finalists working across Africa, Latin America, Europe and global multilateral platforms.\n\nAn international jury selected the finalists from a strong field of nominations representing a wide variety of sectors, approaches and partnerships.\n\n### Gretta Fenner Outstanding Achievement in Collective Action\n\nThis category is named in honour of the Basel Institute’s late Managing Director, [Gretta Fenner](https:\u002F\u002Fgretta.baselgovernance.org\u002F). It recognises organisations that have made a sustained and significant contribution to advancing Collective Action and promoting business integrity over time.\n\nThe 2026 finalists are:\n\n*   Alliance for Integrity – a global multi-stakeholder initiative that has built integrity networks across 16 countries and supported hundreds of trainers and companies in strengthening compliance and anti-corruption practices, particularly among SMEs.\n*   Anti-Corruption Collective Action Impact Centre – hosted by the International Anti-Corruption Academy (IACA), the Centre supports locally led anti-corruption initiatives worldwide through mentorship, training and practical implementation support.\n*   Integridad Corporativa 500 (IC500) – a Mexican transparency benchmark initiative that evaluates the anti-corruption policies and governance practices of the country’s 500 largest companies, helping drive measurable improvements in corporate transparency.\n\n### Collective Action Inspirational Newcomer\n\nThe Inspirational Newcomer category recognises initiatives active for fewer than two years that have already shown strong promise and early impact.\n\nThis year’s finalists are:\n\n*   COSP Private Sector Platform – launched by the United Nations Global Compact and UNODC to create new opportunities for private sector participation in global anti-corruption policymaking linked to the UN Convention against Corruption.\n*   CoST Malawi Infrastructure Transparency Initiative: Red Flags Algorithm – an innovative digital tool that uses data analysis to identify potential corruption and procurement risks in public infrastructure projects in Malawi.\n*   TRIPODE: Collective Action for Business Integrity and SME Inclusion in Mexico – a joint initiative helping companies, especially SMEs, navigate integrity expectations through practical guidance, peer learning and public-private dialogue.\n\nAlthough very different in focus, the finalists all demonstrate the value of collaborative approaches in addressing complex integrity challenges – whether through technology, policy engagement or hands-on support for businesses.\n\n### An international jury with deep expertise\n\nThe finalists were pre-selected by an international jury bringing together expertise from governance, anti-corruption, journalism, international law and public policy.\n\nThe jury included Nathalie Delapalme, CEO of the Mo Ibrahim Foundation, Nicola Bonucci, former OECD Director of Legal Affairs and Basel Institute Board member, Rhoda Weeks-Brown, former General Counsel of the IMF, and award-winning investigative journalist Sheila S. Coronel of Columbia Journalism School.\n\nTheir collective experience spans anti-corruption policy, rule of law, investigative journalism, international governance and responsible business conduct, reflecting the multidisciplinary nature of Collective Action itself.\n\n### Cast your vote\n\nPublic voting is open until 2 June 2026.\n\nVisit the [Awards page on the B20 Collective Action Hub](https:\u002F\u002Fcollective-action.com\u002Fget-involved\u002Fawards) to learn more about the finalists and cast your vote in each category.\n\nThe Collective Action Awards are supported by the Siemens Integrity Initiative.","News","2026-05-20","cast-your-vote-in-the-2026-collective-action-awards-2969","Cast your vote in the 2026 Collective Action Awards","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002Fa69747f0-c2e6-48f5-8e19-4e059e545b2f?width=1000&height=650&format=webp&quality=80",[],[112,15],"Collective Action",[114],"",[],2969,[112,15],[],[],[],"English",[],"2026-06-04T21:13:46.000Z",[],"\u002Fresources\u002Fnews\u002Fcast-your-vote-in-the-2026-collective-action-awards-2969",{"id":127,"body":128,"status":6,"type":10,"date":129,"slug":130,"title":131,"image":132,"countries":133,"topic":134,"activity":135,"tags":136,"nid":148,"topics":149,"activities":150,"authors":151,"images":152,"websites":24,"area":24,"programme":24,"language":121,"translations":153,"translation_of":24,"user_created":42,"date_created":154,"user_updated":155,"date_updated":156,"content":157,"link":158},10621,"In this article, Celia Lourens examines the role of cross-sectoral trust for a functional business environment. Collective Action, she argues, can be an approach to overcoming trust deficits between relevant stakeholders. Celia Lourens supports the organisation of our 6th International Collective Action Conference.\n\nAt its core, anti-corruption Collective Action is about tackling corruption challenges together, rather than alone. Collective Action is primarily driven by businesses, often in collaboration with government representatives and civil society, to address a shared challenge and attain a common objective.\n\nBuilding trust is one critical element of Collective Action efforts, as it requires a genuine and sustained willingness from all involved stakeholders to collaborate.\n\n### Trust across sectors: the foundation of effective markets\n\nMarkets depend on trust – not only between businesses and their customers or employees and their organisational leadership, but between the institutions that shape the business environment:\n\n*   Business relies on regulatory bodies to create fair and predictable markets.\n*   Governments depend on businesses to act with integrity, beyond merely meeting compliance requirements.\n*   Civil society holds both public and private sectors accountable whilst advancing transparency and public confidence.\n\nWhere these relationships are founded in trust, business ecosystems function more effectively and markets remain stable.\n\nYet, cross-sector trust is increasingly under strain. Geopolitical volatility, tightening regulations and elevated complexity within supply chains are creating distance between the very actors who need to collaborate.\n\n### The cost of low-trust systems\n\nWhen trust between the private sector, government and civil society breaks down, the consequences are immediate: slower transactions, higher compliance costs and due diligence burdens, duplicated oversight and heightened reputational risk. Oversight becomes adversarial, compliance turns reactive and businesses invest more time managing risks than creating value.\n\nIn an era of heightened competitiveness, trust across sectors becomes the most valuable currency. Where it is systemically weak, a vicious cycle takes hold: low trust demands heightened scrutiny and more controls, which in turn erode trust further. Government enforcement of standards becomes inconsistent and civil society turns sceptical rather than being a partner.\n\nBreaking this cycle requires a different approach – one built on shared commitment, sustained engagement and coordinated action. This is where Collective Action comes into play.\n\n### Collective Action as a trust-building mechanism\n\nIn practice, Collective Action enables organisations to jointly raise integrity standards across industries, develop sector-specific norms and tackle systemic risks such as bribery and unethical conduct. Its ultimate objective – and the key incentive to participate in Collective Action initiatives – is to create fairer, more transparent markets where companies can compete on equal terms.\n\nBut beyond its role as an anti-corruption approach, Collective Action also serves as a powerful trust-building mechanism. In a low-trust environment, individual organisations acting ethically on their own can find themselves at a disadvantage. Collective Action changes this dynamic. Shared commitments level the playing field, the involvement of multiple stakeholders builds credibility and joint accountability mechanisms increase transparency.\n\nOver time, this collaborative approach fosters trust where it is hardest to achieve – between actors with different roles, responsibilities and pressures. The result is a shift in systemic behaviour that lowers the cost of doing business and drives a more predictable business environment.\n\n### From compliance to competitive advantage\n\nToo often, doing business with integrity is treated as a compliance obligation rather than a source of competitive advantage. Yet, in high-trust business environments, stronger partnerships and faster decision-making enable organisations to withstand disruptions. Organisations invested in building trust across their business ecosystem are better positioned to navigate complexity and sustain long-term value.\n\nCollective Action supports this shift by helping to shape markets that reward integrity, moving beyond a risk mitigation exercise.\n\n### Building trust in practice\n\nThis is exactly the focus of the [6th International Collective Action Conference](https:\u002F\u002Fcollective-action.com\u002Fget-involved\u002Fevents\u002Ficac-2026), taking place on 9–10 June 2026 in Basel, Switzerland.\n\nBringing together leaders from business, government and civil society, the conference is designed as a space not just for dialogue, but for practical exchange. It showcases how Collective Action initiatives are being implemented across sectors, what makes them effective and how they can be adapted to different contexts.\n\nThe conference reflects a core conviction: trust across sectors does not happen by default but must be actively built. Organisations that commit to building trust together, as a collective, will not only manage risks more effectively, but help shape a new competitive advantage rooted in integrity.\n\n### Learn more\n\n*   [6th International Collective Action Conference 2026](https:\u002F\u002Fcollective-action.com\u002Fget-involved\u002Fevents\u002Ficac-2026)\n*   [B20 Collective Action Hub](https:\u002F\u002Fcollective-action.com)\n*   Working Paper 56: [Anti-corruption Collective Action: A typology for a new era](https:\u002F\u002Fcollective-action.com\u002Fexplore\u002Fpublications\u002F2397)\n*   Book: [Collective Action in practice: a game-changer for business integrity](https:\u002F\u002Fcollective-action.com\u002Fexplore\u002Fpublications\u002F2407)","2026-04-20","building-trust-how-collective-action-strengthens-business-ecosystems-2959","Building trust: how Collective Action strengthens business ecosystems","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002Fc470512d-6eaf-404e-86ec-545ebd052655?width=1000&height=650&format=webp&quality=80",[],[112,15],[19],[137,140,144],{"tags_id":138},{"id":139,"name":112},909,{"tags_id":141},{"id":142,"name":143},830,"Business integrity",{"tags_id":145},{"id":146,"name":147},982,"Anti-corruption",2959,[112,15],[19],[],[],[],"2026-06-04T21:13:50.000Z","b0662e2a-864d-4888-a1b7-4342b7570b30","2026-06-05T10:40:20.000Z",[],"\u002Fresources\u002Fnews\u002Fbuilding-trust-how-collective-action-strengthens-business-ecosystems-2959",{"id":160,"body":161,"status":6,"type":105,"date":162,"slug":163,"title":164,"image":165,"countries":166,"topic":168,"activity":169,"tags":171,"nid":172,"topics":173,"activities":174,"authors":175,"images":176,"websites":24,"area":24,"programme":24,"language":121,"translations":177,"translation_of":24,"user_created":42,"date_created":178,"user_updated":43,"date_updated":179,"content":180,"link":181},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",[167],7806,[14],[170],"International cooperation",[],2949,[22],[170],[],[],[],"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":183,"body":184,"status":6,"type":10,"date":185,"slug":186,"title":187,"image":188,"countries":189,"topic":190,"activity":192,"tags":193,"nid":194,"topics":195,"activities":196,"authors":197,"images":199,"websites":24,"area":24,"programme":24,"language":121,"translations":200,"translation_of":24,"user_created":42,"date_created":201,"user_updated":43,"date_updated":202,"content":203,"link":204},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",[],[191,14],"Anti-Money Laundering",[19],[],2944,[191,22],[19],[198],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":206,"body":207,"status":6,"type":105,"date":208,"slug":209,"title":210,"image":211,"countries":212,"topic":213,"activity":214,"tags":216,"nid":217,"topics":218,"activities":219,"authors":220,"images":221,"websites":24,"area":24,"programme":24,"language":121,"translations":222,"translation_of":24,"user_created":42,"date_created":223,"user_updated":24,"date_updated":24,"content":224,"link":225},10610,"Nominations are now open for the [International Anti-Corruption Collective Action Awards 2026](https:\u002F\u002Fcollective-action.com\u002Fget-involved\u002Fawards\u002F), recognising organisations and initiatives that demonstrate leadership, impact and innovation in advancing Collective Action to prevent corruption and strengthen business integrity.\n\nThe awards will be presented at the [International Collective Action Conference 2026](https:\u002F\u002Fbaselgovernance.org\u002Fnews\u002Fregistration-open-6th-international-collective-action-conference), taking place on 9–10 June 2026 in Basel, Switzerland.\n\nOrganisations and initiatives can submit their nomination for two award categories:\n\n*   Gretta Fenner Outstanding Achievement in Collective Action 2026 – acknowledging significant contributions towards fairer market conditions and the prevention of corruption through engagement in Collective Action.\n*   Collective Action Inspirational Newcomer 2026 – showcase accomplishments of initiatives that have been active in the field of anti-corruption Collective Action for less than two years.\n\nNomination are open until 27 March 2026.\n\nThe anti-corruption Collective Action Awards are non-monetary and will only be granted to organisations, not individuals. \n\n### Selection process\n\nEligible nominations will be reviewed by an international jury of experts. The three highest-scoring initiatives in each category will be shortlisted as finalists. Winners will then be determined through a combined vote of the jury and the public, with each jury member and the public vote carrying equal weight.\n\nPublic voting will take place online and will be anonymous. \n\n#### Jury members\n\nThe 2026 jury includes:\n\n*   Nathalie Delapalme, Chief Executive Officer of the Mo Ibrahim Foundation\n*   Nicola Bonucci, Board Member of the Basel Institute on Governance and former Director for Legal Affairs at the OECD\n*   Rhoda Weeks-Brown, Founder and CEO of Cape Palmas Global Advisors LLC and former General Counsel of the IMF\n\nThe awards are presented with the support of the [Siemens Integrity Initiative](https:\u002F\u002Fbaselgovernance.org\u002Fnews\u002Fbasel-institute-awarded-new-siemens-integrity-initiative-evolve-funding-advance-global).\n\n### Learn more\n\n*   For more information on the eligibility criteria, the selection process and the public vote, see our [award methodology](https:\u002F\u002Fb20-dev.baselgovernance.org\u002Fapi\u002Fassets\u002Fa54d560f-0d11-439a-ac88-8bf89a6a2120).\n*   Learn more on the [B20 Collective Action Hub](https:\u002F\u002Fcollective-action.com\u002F), the Basel Institute's platform for knowledge and engagement on anti-corruption Collective Action.","2026-03-04","international-collective-action-awards-2026-nominations-open-2941","International Collective Action Awards 2026: nominations open","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002F7d9267b4-5c9c-4c0d-81a2-a1ca5c34eaa9?width=1000&height=650&format=webp&quality=80",[],[112,15],[215],"Events",[],2941,[112,15],[215],[],[],[],"2026-04-15T22:45:21.000Z",[],"\u002Fresources\u002Fnews\u002Finternational-collective-action-awards-2026-nominations-open-2941",{"id":227,"body":228,"status":6,"type":105,"date":229,"slug":230,"title":231,"image":232,"countries":233,"topic":235,"activity":236,"tags":238,"nid":239,"topics":240,"activities":241,"authors":242,"images":243,"websites":24,"area":24,"programme":24,"language":121,"translations":244,"translation_of":24,"user_created":42,"date_created":245,"user_updated":42,"date_updated":246,"content":247,"link":248},10601,"The only international anti-corruption Collective Action Conference is back!\n\nAre you working on corruption prevention in the private sector, government, civil society or academia?\n\nThen join us for the sixth edition of this biannual landmark event on 9–10 June in Basel, Switzerland.\n\nOver one and a half days of expert sessions, fireside chats and networking, we’ll bring together practitioners from around the world to build and strengthen communities of practice in Collective Action.\n\nThis edition will focus on concrete measures to make markets fairer and more transparent – with a strong hands-on approach:\n\n*   What does Collective Action look like in practice, and what makes it work?\n*   How can a multi-stakeholder approach help organisations respond more effectively to global business challenges?\n\nThe 6th International Collective Action Conference is supported by the Siemens Integrity Initiative. Participation is free of charge, but places are limited and subject to approval. \n\nLearn more on the [official event page on the B20 Collective Action Hub](https:\u002F\u002Fcollective-action.com\u002Fget-involved\u002Fevents\u002Ficac-2026) and [submit your registration request here](https:\u002F\u002Fdocs.google.com\u002Fforms\u002Fd\u002Fe\u002F1FAIpQLSeoO9mw-xZxNATMMIIr7vPqUqBPEWuOXW-AT2t3WXiYYMysaw\u002Fviewform).\n\n### Sponsorship opportunities\n\nWe are seeking a limited number of sponsors to support the conference and help advance practical, multi-stakeholder approaches to business integrity and anti-corruption. [See more information on sponsorship options and benefits](https:\u002F\u002Fb20-dev.baselgovernance.org\u002Fapi\u002Fassets\u002Fb9939e69-4813-4b44-903e-2ab705068d45) and don't hesitate to get in touch.","2026-02-16","registration-open-6th-international-collective-action-conference-2933","Registration open: 6th International Collective Action Conference","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002F40e65081-b8a4-44f9-b6d1-b16f6a5083be?width=1000&height=650&format=webp&quality=80",[234],7804,[112,15],[215,237],"Partnerships",[],2933,[112,15],[215,237],[],[],[],"2026-02-27T15:07:17.000Z","2026-02-27T15:07:18.000Z",[],"\u002Fresources\u002Fnews\u002Fregistration-open-6th-international-collective-action-conference-2933",{"id":250,"body":251,"status":6,"type":10,"date":252,"slug":253,"title":254,"image":255,"countries":256,"topic":257,"activity":258,"tags":259,"nid":266,"topics":267,"activities":268,"authors":269,"images":270,"websites":24,"area":24,"programme":24,"language":121,"translations":271,"translation_of":24,"user_created":42,"date_created":246,"user_updated":43,"date_updated":179,"content":272,"link":273},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",[],[191,14],[215],[260,264],{"tags_id":261},{"id":262,"name":263},854,"Virtual assets",{"tags_id":265},{"id":78,"name":79},2929,[191,22],[215],[],[],[],[],"\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":275,"body":276,"status":6,"type":105,"date":277,"slug":278,"title":279,"image":280,"countries":281,"topic":283,"activity":284,"tags":285,"nid":286,"topics":287,"activities":288,"authors":289,"images":290,"websites":24,"area":24,"programme":24,"language":121,"translations":291,"translation_of":24,"user_created":42,"date_created":292,"user_updated":43,"date_updated":179,"content":293,"link":294},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",[282],7805,[191,14],[215,237],[],2932,[191,22],[215,237],[],[],[],"2026-02-27T15:07:20.000Z",[],"\u002Fresources\u002Fnews\u002Fsave-the-date-10th-global-conference-on-criminal-finances-and-cryptoassets-2932",{"id":296,"body":297,"status":6,"type":105,"date":298,"slug":299,"title":300,"image":301,"countries":302,"topic":303,"activity":304,"tags":305,"nid":306,"topics":307,"activities":308,"authors":309,"images":310,"websites":24,"area":24,"programme":24,"language":121,"translations":311,"translation_of":24,"user_created":42,"date_created":312,"user_updated":24,"date_updated":24,"content":313,"link":314},10593,"We are pleased to announce that the Basel Institute on Governance has received funding through the [Siemens Integrity Initiative](https:\u002F\u002Fwww.siemens.com\u002Fintegrity-initiative)’s Evolve Funding Round. This fresh support will help launch the new global project \"Unlocking the Potential of Collective Action\".\n\nThis new funding marks the next chapter in a partnership that began in 2009 and has played a decisive role in shaping today’s global Collective Action landscape for more than 15 years.\n\n### Unlocking the potential of Collective Action\n\nThrough this three-year initiative, the Basel Institute will work with partners across ASEAN (Association of Southeast Asian Nations) and South Africa to strengthen [Collective Action](https:\u002F\u002Fcollective-action.com\u002F) as a practical tool to prevent corruption.\n\nThe project combines tailored mentoring, technical assistance and peer learning with an embedded train-the-trainer approach. By empowering local champions to design and drive initiatives that respond to evolving risks and sector-specific challenges, the project aims to ensure that Collective Action remains resilient over time.\n\nBeyond capacity building, the initiative seeks to further embed Collective Action as a recognised global norm. By engaging a critical mass of public- and private-sector stakeholders, it will help transform high-level commitments into meaningful collaboration that strengthens integrity and levels the playing field.\n\nWe are deeply grateful to Siemens for their continued partnership and support through the Evolve round. Together, we look forward to reinforcing Collective Action as an impactful, long-term approach to creating fairer markets.\n\n### About the Siemens Integrity Initiative\n\nThe Siemens Integrity Initiative is a global programme that promotes fair competition and fights corruption by supporting Collective Action and education & training projects worldwide. Since 2009, it has funded 85 projects in more than 50 countries, helping strengthen legal and policy frameworks, build trust among stakeholders, and create level playing fields in high-risk markets.\n\nThrough its new Evolve Funding Round, the Initiative continues to expand this impact by investing in long-term, collaborative efforts that equip leaders and institutions to prevent corruption and drive sustainable ethical change.\n\n### Learn more\n\n*   Discover more about the Siemens Integrity Initiative, its global portfolio and the new Evolve funding round on their [official website](https:\u002F\u002Fwww.siemens.com\u002Fintegrity-initiative).\n*   To explore tools, case studies and resources on Collective Action, visit the Basel Institute’s dedicated global platform, the [Collective Action Hub](https:\u002F\u002Fcollective-action.com\u002F).","2025-12-11","basel-institute-awarded-new-siemens-integrity-initiative-evolve-funding-to-advance-global-collective-action-2884","Basel Institute awarded new Siemens Integrity Initiative Evolve funding to advance global Collective Action","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002F0307e41d-b638-4c77-84f1-c7abcd462d72?width=1000&height=650&format=webp&quality=80",[],[112,15],[237],[],2884,[112,15],[237],[],[],[],"2025-12-11T11:01:41.000Z",[],"\u002Fresources\u002Fnews\u002Fbasel-institute-awarded-new-siemens-integrity-initiative-evolve-funding-to-advance-global-collective-action-2884",{"id":316,"body":317,"status":6,"type":10,"date":318,"slug":319,"title":320,"image":321,"countries":322,"topic":24,"activity":24,"tags":323,"nid":24,"topics":324,"activities":327,"authors":329,"images":331,"websites":332,"area":333,"programme":336,"language":121,"translations":338,"translation_of":24,"user_created":339,"date_created":340,"user_updated":43,"date_updated":179,"content":341,"link":342},10590,"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\u003Cp>\u003Cstrong>Understanding national risks linked to virtual assets is now essential\u003C\u002Fstrong>, as their use has moved from niche to mainstream and is increasingly exploited for financial crime. \u003C\u002Fp>\n\n\u003Cp>\u003Cstrong>Risk assessments are inherently challenging \u003C\u002Fstrong>as (a) virtual assets are borderless by design, (b) large parts of the ecosystem fall outside regulation and (c) reliable national-level data remains limited. \u003C\u002Fp>\n\n\u003Cp>\u003Cstrong>Illicit activity involving virtual assets does not take place in isolation\u003C\u002Fstrong>: offenders exploit the same weaknesses – corruption, fraud, weak supervision and poor enforcement – that already undermine the wider financial system. \u003C\u002Fp>\n\n\u003Cp>\u003Cstrong>The Basel AML Index provides valuable indicators to assess both a jurisdiction’s structural vulnerabilities and its capacity to counter threats \u003C\u002Fstrong>related to financial crimes in general, including those related to virtual assets, even though it does not include a dedicated virtual assets risk indicator. \u003C\u002Fp>\n\u003C\u002Fblockquote>\n\n\u003Cem>Note: in this article we use the term virtual assets in line with the FATF’s \u003Ca href=\"https:\u002F\u002Fwww.fatf-gafi.org\u002Fen\u002Ftopics\u002Fvirtual-assets.html\">definition\u003C\u002Fa> of “any digital representation of value that can be digitally traded, transferred or used for payment”. The terms crypto, cryptoassets, digital assets, digital currencies, etc. form part of this loose family, though they are often defined differently in different contexts – a factor that also complicates risk assessments and data analysis.\u003C\u002Fem>\n\n\u003Ch3>\u003Cstrong>Why assessing risks related to virtual assets matters \u003C\u002Fstrong>\u003C\u002Fh3>\n\nGovernments and private firms alike are under growing pressure to understand the risks associated with virtual assets. What was once a niche is becoming a mainstream part of financial markets and a common feature in all forms of financial crime.\n\nAs the virtual assets industry continues to mature, national authorities that lack a clear understanding of the risks find themselves on the back foot when drafting legislation, supervising market participants or countering financial crime.\n\nFor financial institutions, a clear picture of jurisdiction-level risk is essential for customer due diligence, transaction monitoring, calibrating controls and taking strategic decisions about where or where not to operate. Financial institutions that misjudge these risks leave themselves exposed to illicit finance, reputational harm and potential regulatory action.\n\n\u003Ch3>Why jurisdiction-level risk assessments are difficult\u003C\u002Fh3>\n\n\u003Ch4>1. A borderless system by design\u003C\u002Fh4>\n\nUnlike bank accounts or trust funds, virtual asset wallets or addresses do not have a meaningful jurisdictional location. There is no crypto equivalent of “a bank account in Switzerland”. A wallet can be accessed anywhere and may be controlled by a person or entity whose location is unknown or easily obscured. Large parts of the virtual asset ecosystem also fall outside the boundaries of traditional financial regulation. Self-hosted wallets, peer-to-peer transfers, decentralised finance (DeFi) protocols and informal over-the-counter (OTC) brokers create pockets of activity that are largely invisible. Any jurisdiction-level assessment will inevitably be incomplete.\n\nThe activities of virtual asset service providers (VASPs) further complicate matters. A VASP may be established in one jurisdiction while primarily serving customers in another. In the absence of harmonised legislation or cooperation among supervisors, many operate across numerous markets with minimal physical presence or regulatory engagement.\n\n\u003Ch4>2. Data is limited, patchy and uncertain\u003C\u002Fh4>\n\nReliable quantitative data on financial crime risks related to virtual assets at the national level is scarce. In addition to the issue of contrasting definitions and the technology’s borderless nature, several factors contribute to this lack.\n\nFirst, commercial blockchain analytics providers publish broad indicators of virtual asset adoption and estimates of illicit usage. These can be helpful for spotting trends but require careful interpretation. They rely on estimates and proxies, including web traffic to exchanges or intermediaries, and do not provide precise amounts or reliably distinguish licit from illicit activity.\n\nSecond, it is reasonable to assume that where adoption rises, illicit activity will also increase, simply because criminals use the same infrastructure as legitimate users. However, such relationships cannot be measured with confidence.\n\nThird, at the government level, many jurisdictions still lack a coordinated approach across authorities to collect, share and analyse statistics on money laundering and related financial crimes. In many jurisdictions, data on virtual assets is either not gathered consistently or not collected at all.\n\nWithout reliable data on virtual assets usage and risks, national risk assessments may become detached from real-world threats. The result: regulation and supervision that is either insufficient or unnecessarily burdensome.\n\n### How the Basel AML Index can be used\n\nFor the above reasons, the Basel AML Index does not offer a dedicated indicator for virtual assets. Nevertheless, the Index data is still useful because illicit activity involving virtual assets typically exploits the same underlying weaknesses that enable money laundering, corruption, fraud and other financial crimes in the traditional financial system. Where protections against fraud are weak, for example, where supervision is lacking or where enforcement of regulations is inconsistent or politically compromised, opportunities to misuse virtual assets for illegal purposes tend to expand.\n\n\u003Cblockquote>\n\u003Cstrong>Two components of risk \u003C\u002Fstrong>\n\nIn line with the holistic methodology of the Basel AML Index and most AML\u002FCFT risk assessment frameworks, evaluating jurisdiction-level risk related to virtual assets centres on two elements:\n\n\u003Cp>a) \u003Cem>vulnerability \u003C\u002Fem>to the illicit use of virtual assets; and b) \u003Cem>capacity to mitigate \u003C\u002Fem>and respond to these threats. \u003C\u002Fp>\n\u003C\u002Fblockquote>\n\n### Relevant indicators\n\nThe following graphic highlights indicators of the Basel AML Index that are relevant for assessing either \u003Cem>structural vulnerabilities \u003C\u002Fem>that illicit actors may exploit, or a jurisdiction’s \u003Cem>capacity to counter \u003C\u002Fem>threats. These can be viewed individually in the Expert Edition.\n\n![](https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002F7f446525-136f-4018-a322-8a4e8872f23b) *Indicators visible in the Basel AML Index Edition that are particularly relevant to assessing national risks relating to virtual assets.*\n\n\n#### FATF data\n\nUsing the Expert Edition Plus subscription and its quantitative analysis of the latest FATF mutual evaluation and follow-up reports, Basel AML Index users can gain rapid insights into whether a jurisdiction’s AML\u002FCFT framework provides it with the capacity to \u003Cem>counter threats \u003C\u002Fem>related to financial crimes generally, including those involving virtual assets. FATF Recommendations that may be highly relevant for this include:\n\n- R.15 (new technologies)\n- R.16 (payment transparency)\n- R.26 & 27 (regulation and supervision)\n- R.29–31 (law enforcement)\n- R.36–40 (international cooperation)\n\nAn additional useful source of information for jurisdiction-level risk assessments is the FATF’s \u003Ca href=\"https:\u002F\u002Fwww.fatf-gafi.org\u002Fen\u002Fpublications\u002FFatfrecommendations\u002Ftargeted-update-virtual-assets-vasps-2025.html\">\u003Cem>2025 Targeted Update on Implementation of the FATF Standards on Virtual Assets and Virtual Asset Service Providers\u003C\u002Fem>\u003C\u002Fa>. This report summarises progress in implementing FATF Recommendation 15 by FATF members and additional jurisdictions with materially important global virtual asset activity. “Materially important” refers to the presence of large VASPs (accounting for more than 0.25 percent of global trading) and\u002For a large virtual asset user base.\n\n### Where to start\n\nFor jurisdictions at an early stage of assessing national risks related to virtual assets, the World Bank’s \u003Cem>\u003Ca href=\"https:\u002F\u002Fopenknowledge.worldbank.org\u002Fentities\u002Fpublication\u002Fbb5a7475-ac52-4697-afdc-5f618a550623\">AML\u002FCFT National Risk Assessment on Virtual Assets and Virtual Asset Service Providers: Guidance Manual\u003C\u002Fa> \u003C\u002Fem>(published in October 2025) is a strong starting point. It covers both threats and vulnerabilities, as well as the effectiveness of mitigation measures.\n\nAdditional useful resources include:\n- \u003Ca href=\"https:\u002F\u002Fbaselgovernance.org\u002F9crc-crypto-regulation\">\u003Cstrong>Practical recommendations from regulators and supervisors\u003C\u002Fstrong>\u003C\u002Fa>, developed at the 9th Global Conference on Criminal Finances and Cryptoassets, on understanding financial crime risks linked to virtual assets and designing effective regulatory and supervisory frameworks.\n- \u003Cstrong>Structured public–private partnerships\u003C\u002Fstrong>, such as the \u003Ca href=\"https:\u002F\u002Fefippp.eu\u002F\">Europol Financial Intelligence Sharing Public Private Partnership\u003C\u002Fa>, which offer opportunities to learn from peers and obtain early insights into emerging threats and financial crime typologies involving virtual assets.\n","2025-12-08","assessing-national-risks-related-to-virtual-assets","Assessing national risks related to virtual assets","https:\u002F\u002Fjam.baselgovernance.org\u002Fapi\u002Fassets\u002F78f8a1ec-bf8d-469a-ab92-228e79ddd8f2?width=1000&height=650&format=webp&quality=80",[],[],[191,22,325,326],"Business Integrity Ethics and Compliance","Corruption Prevention and Public Governance",[18,328],"Research",[330],1365,[],[18],[334,335],"Asset Recovery & Enforcement","Business Integrity & Governance",[337],"International Centre for Asset Recovery",[],"545a204d-e41b-4882-afda-481ecf3fd971","2025-12-05T11:43:36.000Z",[],"\u002Fresources\u002Fnews\u002Fassessing-national-risks-related-to-virtual-assets",{"left":344,"top":344,"width":345,"height":345,"rotate":344,"vFlip":346,"hFlip":346,"body":347},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>",1780676403479]