[{"data":1,"prerenderedAt":781},["ShallowReactive",2],{"tag-1346":3,"tag-events-1346-1":6,"tag-stories-1346-1":9,"tag-publications-1346-1":11,"tag-news-1346-1":409},{"id":4,"name":5},1346,"Basel AML Index",{"items":7,"total":8},[],0,{"items":10,"total":8},[],{"items":12,"total":408},[13,94,160,228,300],{"id":14,"status":15,"sort":16,"date_created":17,"date_updated":18,"nid":19,"slug":20,"title":21,"body":22,"citation":23,"language":24,"year":25,"publisher":26,"date_published":27,"external":28,"topic":29,"link_internal":32,"link_external":33,"featured":28,"topics":37,"languages":16,"type":39,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"image":41,"countries":52,"tags":53,"pdf":71,"authors":93},2429,"published",null,"2025-12-08T11:05:33.000Z","2026-05-29T22:23:02.000Z",2893,"basel-aml-index-2025","Basel AML Index 2025","This is the 14th annual Public Edition report of the Basel AML Index, an independent, data-based ranking and risk assessment tool for money laundering and related financial crime risks around the world.\n\nThe Basel AML Index provides risk scores for jurisdictions based on data from 17 publicly accessible sources such as the Financial Action Task Force (FATF), Transparency International and the Global Initiative against Transnational Organized Crime. The risk scores cover five domains considered to contribute to a high money laundering risk:\n\n\n- Quality of AML\u002FCFT\u002FCPF framework\n- Corruption and fraud risks\n- Financial transparency and standards\n- Public transparency and accountability\n- Political and legal risks\n\n\nThe Basel AML Index is developed and maintained by the Basel Institute on Governance through its \u003Ca href=\"https:\u002F\u002Fbaselgovernance.org\u002Fnode\u002F25\">International Centre for Asset Recovery\u003C\u002Fa> (ICAR). ICAR receives core funding from the Governments of Jersey, Liechtenstein, Norway, Switzerland and the UK.","","English",2025,"Basel Institute on Governance","2025-12-08",false,[30,31],"Anti-Money Laundering","Asset Recovery",[],[34],{"url":35,"caption":36},"https:\u002F\u002Findex.baselgovernance.org\u002F"," View Basel AML Index website",[30,38],"Asset Recovery and Enforcement",[40],"Report",{"id":42,"storage":43,"filename_disk":44,"filename_download":45,"title":46,"type":47,"created_on":17,"modified_on":17,"charset":16,"filesize":48,"width":49,"height":50,"duration":16,"embed":16,"description":16,"location":16,"tags":16,"metadata":51,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":17},"19665416-644c-4110-9642-07b31f849971","local","19665416-644c-4110-9642-07b31f849971.jpg?itok=P1WbvzV-","Basel-AML-Index-2025-cover.jpg?itok=P1WbvzV-","Basel_AML_Index_2025_cover.jpg","image\u002Fjpeg",37896,500,707,{},[],[54],{"id":55,"publications_id":56,"tags_id":70},4671,{"id":14,"status":15,"sort":16,"user_created":57,"date_created":17,"user_updated":58,"date_updated":18,"nid":19,"slug":20,"image":42,"title":21,"body":22,"citation":23,"language":24,"year":25,"publisher":26,"date_published":27,"external":28,"topic":59,"link_internal":60,"link_external":61,"featured":28,"topics":63,"languages":16,"type":64,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"countries":65,"tags":66,"pdf":67,"authors":69},"03bebfd8-0b40-4a2a-820d-b9d9c13b9de6","3d9ff205-1640-4f34-b5b6-86977f51bbd6",[30,31],[],[62],{"url":35,"caption":36},[30,38],[40],[],[55],[68],2484,[],{"id":4,"name":5},[72],{"id":68,"publications_id":73,"directus_files_id":84},{"id":14,"status":15,"sort":16,"user_created":57,"date_created":17,"user_updated":58,"date_updated":18,"nid":19,"slug":20,"image":42,"title":21,"body":22,"citation":23,"language":24,"year":25,"publisher":26,"date_published":27,"external":28,"topic":74,"link_internal":75,"link_external":76,"featured":28,"topics":78,"languages":16,"type":79,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"countries":80,"tags":81,"pdf":82,"authors":83},[30,31],[],[77],{"url":35,"caption":36},[30,38],[40],[],[55],[68],[],{"id":85,"storage":43,"filename_disk":86,"filename_download":87,"title":87,"type":88,"folder":89,"uploaded_by":57,"created_on":17,"modified_by":16,"modified_on":90,"charset":16,"filesize":91,"width":16,"height":16,"duration":16,"embed":16,"description":92,"location":16,"tags":16,"metadata":16,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":90},"acda2850-9664-4c95-87b8-c978baf7a5c6","acda2850-9664-4c95-87b8-c978baf7a5c6.pdf","Basel-AML-Index-2025.pdf","application\u002Fpdf","67f22e04-d26f-4baa-b91f-acc5f89d87f5","2025-12-08T11:05:34.000Z",7356526,"Download 2025 report",[],{"id":95,"status":15,"sort":16,"date_created":96,"date_updated":97,"nid":98,"slug":99,"title":100,"body":101,"citation":23,"language":24,"year":102,"publisher":26,"date_published":103,"external":28,"topic":104,"link_internal":105,"link_external":106,"featured":109,"topics":110,"languages":111,"type":112,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"image":113,"countries":120,"tags":121,"pdf":138,"authors":159},2376,"2024-12-05T14:06:45.000Z","2026-05-23T20:07:54.000Z",2722,"basel-aml-index-2024","Basel AML Index 2024","This is the 13th annual Public Edition report of the Basel AML Index, an independent, data-based ranking and risk assessment tool for money laundering and related financial crime risks around the world.\n\nThe Basel AML Index provides risk scores for countries and jurisdictions based on data from 17 publicly available sources such as the Financial Action Task Force (FATF), Transparency International and the Global Initiative against Transnational Organized Crime. The risk scores cover five domains considered to contribute to a high money laundering risk:\n\n\n- Quality of AML\u002FCFT\u002FCPF framework\n- Corruption and fraud risks\n- Financial transparency and standards\n- Public transparency and accountability\n- Legal and political risks\n\n\nThe Basel AML Index is developed and maintained by the Basel Institute on Governance through its \u003Ca href=\"https:\u002F\u002Fbaselgovernance.org\u002Fnode\u002F25\">International Centre for Asset Recovery\u003C\u002Fa> (ICAR). ICAR receives core funding from the Governments of Jersey, Liechtenstein, Norway, Switzerland and the UK.",2024,"2024-12-02",[30],[],[107],{"url":108,"caption":36},"https:\u002F\u002Findex.baselgovernance.org",true,[30],[24],[40],{"id":114,"storage":43,"filename_disk":115,"filename_download":116,"title":117,"type":47,"created_on":96,"modified_on":96,"charset":16,"filesize":118,"width":49,"height":50,"duration":16,"embed":16,"description":16,"location":16,"tags":16,"metadata":119,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":96},"b6616785-af49-4050-805b-b607dacfe6e4","b6616785-af49-4050-805b-b607dacfe6e4.jpg?itok=36YMKZTn","Cover-page-of-Basel-AML-Index-2024.jpg?itok=36YMKZTn","Cover page of Basel AML Index 2024",69190,{},[],[122],{"id":123,"publications_id":124,"tags_id":137},4748,{"id":95,"status":15,"sort":16,"user_created":57,"date_created":96,"user_updated":58,"date_updated":97,"nid":98,"slug":99,"image":114,"title":100,"body":101,"citation":23,"language":24,"year":102,"publisher":26,"date_published":103,"external":28,"topic":125,"link_internal":126,"link_external":127,"featured":109,"topics":129,"languages":130,"type":131,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"countries":132,"tags":133,"pdf":134,"authors":136},[30],[],[128],{"url":108,"caption":36},[30],[24],[40],[],[123],[135],2414,[],{"id":4,"name":5},[139],{"id":135,"publications_id":140,"directus_files_id":152},{"id":95,"status":15,"sort":16,"user_created":57,"date_created":96,"user_updated":58,"date_updated":97,"nid":98,"slug":99,"image":114,"title":100,"body":101,"citation":23,"language":24,"year":102,"publisher":26,"date_published":103,"external":28,"topic":141,"link_internal":142,"link_external":143,"featured":109,"topics":145,"languages":146,"type":147,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"countries":148,"tags":149,"pdf":150,"authors":151},[30],[],[144],{"url":108,"caption":36},[30],[24],[40],[],[123],[135],[],{"id":153,"storage":43,"filename_disk":154,"filename_download":155,"title":155,"type":88,"folder":89,"uploaded_by":57,"created_on":96,"modified_by":16,"modified_on":156,"charset":16,"filesize":157,"width":16,"height":16,"duration":16,"embed":16,"description":158,"location":16,"tags":16,"metadata":16,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":156},"59b3ea9f-c809-4c94-9319-fd3eb646f066","59b3ea9f-c809-4c94-9319-fd3eb646f066.pdf","2024-Basel-AML-Index-report.pdf","2024-12-05T14:06:46.000Z",3325543,"Download 2024 report",[],{"id":161,"status":15,"sort":16,"date_created":162,"date_updated":163,"nid":164,"slug":165,"title":166,"body":167,"citation":23,"language":24,"year":168,"publisher":26,"date_published":169,"external":28,"topic":170,"link_internal":171,"link_external":175,"featured":28,"topics":177,"languages":178,"type":179,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"image":180,"countries":187,"tags":188,"pdf":206,"authors":227},2317,"2023-11-13T11:04:46.000Z","2026-06-02T14:08:42.000Z",2532,"basel-aml-index-2023","Basel AML Index 2023","This is the 12th Public Edition of the Basel AML Index.\n\nThe Basel AML Index is an independent annual ranking that assesses the risk of money laundering and terrorist financing (ML\u002FTF) around the world.\n\nPublished by the Basel Institute on Governance since 2012, it provides risk scores based on data from 18 publicly available sources such as the Financial Action Task Force (FATF), Transparency International, the World Bank and the World Economic Forum. The risk scores cover five domains:\n\n\n- Quality of AML\u002FCFT Framework\n- Bribery and Corruption\n- Financial Transparency and Standards\n- Public Transparency and Accountability\n- Legal and Political Risks\n\n\nThe Basel AML Index is developed and maintained by the Basel Institute's \u003Ca href=\"\u002Fnode\u002F25\">International Centre for Asset Recovery\u003C\u002Fa>.\n\n### Public vs Expert Editions\n\nThe Public Edition of the Basel AML Index 2023 covers 152 countries with sufficient data to calculate a reliable ML\u002FTF risk score. \n\nA comprehensive list of scores and sub-indicators for 203 countries is available in the \u003Ca href=\"https:\u002F\u002Findex.baselgovernance.org\u002Fexpert-edition\">Expert Edition\u003C\u002Fa>, which is available free for public-sector, international, non-profit, media and academic organisations. It is reasonably priced for companies and financial institutions, which use the Expert Edition as an ML\u002FTF country risk-rating tool for compliance and risk assessment purposes. ",2023,"2023-11-13",[30],[172],{"url":173,"caption":174},"\u002Fresources\u002Fnews\u002Fbasel-aml-index-2023-action-on-money-laundering-more-urgent-than-ever-2531"," View press release",[176],{"url":108,"caption":36},[30],[24],[40],{"id":181,"storage":43,"filename_disk":182,"filename_download":183,"title":184,"type":47,"created_on":162,"modified_on":162,"charset":16,"filesize":185,"width":49,"height":50,"duration":16,"embed":16,"description":16,"location":16,"tags":16,"metadata":186,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":162},"1f380d49-adcb-4784-919b-5f3dd0b621df","1f380d49-adcb-4784-919b-5f3dd0b621df.jpg?itok=j8ZQ-T-K","Pages-from-Basel-AML-Index-2023-pre-publication-reduced-size.jpg?itok=j8ZQ-T-K","Cover page of Basel AML Index 2023",57079,{},[],[189],{"id":190,"publications_id":191,"tags_id":205},4767,{"id":161,"status":15,"sort":16,"user_created":57,"date_created":162,"user_updated":58,"date_updated":163,"nid":164,"slug":165,"image":181,"title":166,"body":167,"citation":23,"language":24,"year":168,"publisher":26,"date_published":169,"external":28,"topic":192,"link_internal":193,"link_external":195,"featured":28,"topics":197,"languages":198,"type":199,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"countries":200,"tags":201,"pdf":202,"authors":204},[30],[194],{"url":173,"caption":174},[196],{"url":108,"caption":36},[30],[24],[40],[],[190],[203],2353,[],{"id":4,"name":5},[207],{"id":203,"publications_id":208,"directus_files_id":221},{"id":161,"status":15,"sort":16,"user_created":57,"date_created":162,"user_updated":58,"date_updated":163,"nid":164,"slug":165,"image":181,"title":166,"body":167,"citation":23,"language":24,"year":168,"publisher":26,"date_published":169,"external":28,"topic":209,"link_internal":210,"link_external":212,"featured":28,"topics":214,"languages":215,"type":216,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"countries":217,"tags":218,"pdf":219,"authors":220},[30],[211],{"url":173,"caption":174},[213],{"url":108,"caption":36},[30],[24],[40],[],[190],[203],[],{"id":222,"storage":43,"filename_disk":223,"filename_download":224,"title":224,"type":88,"folder":89,"uploaded_by":57,"created_on":162,"modified_by":16,"modified_on":162,"charset":16,"filesize":225,"width":16,"height":16,"duration":16,"embed":16,"description":226,"location":16,"tags":16,"metadata":16,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":162},"a84f4527-9c86-4cd6-8507-493089075642","a84f4527-9c86-4cd6-8507-493089075642.pdf","Basel-AML-Index-2023-12th-Edition.pdf",3548386,"Download report",[],{"id":229,"status":15,"sort":16,"date_created":230,"date_updated":231,"nid":232,"slug":233,"title":234,"body":235,"citation":23,"language":24,"year":236,"publisher":26,"date_published":237,"external":28,"topic":238,"link_internal":239,"link_external":243,"featured":28,"topics":246,"languages":247,"type":248,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"image":249,"countries":258,"tags":259,"pdf":277,"authors":299},2231,"2022-09-30T16:04:13.000Z","2026-06-04T21:50:44.000Z",2289,"basel-aml-index-2022","Basel AML Index 2022","This is the 11th Public Edition of the Basel AML Index.\n\nThe Basel AML Index is an independent annual ranking that assesses the risk of money laundering and terrorist financing (ML\u002FTF) around the world.\n\nPublished by the Basel Institute on Governance since 2012, it provides risk scores based on data from 18 publicly available sources such as the Financial Action Task Force (FATF), Transparency International, the World Bank and the World Economic Forum. The risk scores cover five domains:\n\n- Quality of AML\u002FCFT Framework\n- Bribery and Corruption\n- Financial Transparency and Standards\n- Public Transparency and Accountability\n- Legal and Political Risks\n\nThe Basel AML Index is developed and maintained by the Basel Institute's \u003Ca href=\"\u002Fnode\u002F25\">International Centre for Asset Recovery\u003C\u002Fa>.\n\n### Public vs Expert Editions\n\nThe Public Edition of the Basel AML Index 2022 covers 128 countries with sufficient data to calculate a reliable ML\u002FTF risk score.\n\nA comprehensive list of scores and sub-indicators for 203 countries is available in the \u003Ca href=\"https:\u002F\u002Findex.baselgovernance.org\u002Fexpert-edition\">Expert Edition\u003C\u002Fa>, which is available free for public-sector, international, non-profit, media and academic organisations. It is reasonably priced for companies and financial institutions, which use the Expert Edition as an ML\u002FTF country risk-rating tool for compliance and risk assessment purposes.",2022,"2022-10-04",[30],[240],{"url":241,"caption":242},"\u002Fresources\u002Fnews\u002Fbasel-aml-index-2022-one-step-forward-four-steps-back-in-tackling-money-laundering-2286","View press release",[244],{"url":108,"caption":245},"View Basel AML Index website",[30],[24],[40],{"id":250,"storage":43,"filename_disk":251,"filename_download":252,"title":253,"type":47,"created_on":231,"modified_on":231,"charset":16,"filesize":254,"width":255,"height":256,"duration":16,"embed":16,"description":16,"location":16,"tags":16,"metadata":257,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":231},"c00e597b-9a20-49de-b6cb-4c1a03d6aa07","c00e597b-9a20-49de-b6cb-4c1a03d6aa07.jpg","Pages-from-Basel-AML-Index-2022-final.jpg","Cover page of Basel AML Index 2022",91629,827,1170,{},[],[260],{"id":261,"publications_id":262,"tags_id":276},4806,{"id":229,"status":15,"sort":16,"user_created":57,"date_created":230,"user_updated":58,"date_updated":231,"nid":232,"slug":233,"image":250,"title":234,"body":235,"citation":23,"language":24,"year":236,"publisher":26,"date_published":237,"external":28,"topic":263,"link_internal":264,"link_external":266,"featured":28,"topics":268,"languages":269,"type":270,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"countries":271,"tags":272,"pdf":273,"authors":275},[30],[265],{"url":241,"caption":242},[267],{"url":108,"caption":245},[30],[24],[40],[],[261],[274],2500,[],{"id":4,"name":5},[278],{"id":274,"publications_id":279,"directus_files_id":292},{"id":229,"status":15,"sort":16,"user_created":57,"date_created":230,"user_updated":58,"date_updated":231,"nid":232,"slug":233,"image":250,"title":234,"body":235,"citation":23,"language":24,"year":236,"publisher":26,"date_published":237,"external":28,"topic":280,"link_internal":281,"link_external":283,"featured":28,"topics":285,"languages":286,"type":287,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"countries":288,"tags":289,"pdf":290,"authors":291},[30],[282],{"url":241,"caption":242},[284],{"url":108,"caption":245},[30],[24],[40],[],[261],[274],[],{"id":293,"storage":43,"filename_disk":294,"filename_download":295,"title":296,"type":88,"folder":89,"uploaded_by":58,"created_on":297,"modified_by":16,"modified_on":297,"charset":16,"filesize":298,"width":16,"height":16,"duration":16,"embed":16,"description":16,"location":16,"tags":16,"metadata":16,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":297},"a14941f5-1135-4f42-82cc-e87bea7ae9fa","a14941f5-1135-4f42-82cc-e87bea7ae9fa.pdf","221004_Basel_AML_Index_2022.pdf","Basel AML Index 2022 report","2026-06-04T21:50:43.000Z",2225791,[],{"id":301,"status":15,"sort":16,"date_created":302,"date_updated":303,"nid":304,"slug":305,"title":306,"body":307,"citation":23,"language":24,"year":308,"publisher":26,"date_published":309,"external":28,"topic":310,"link_internal":311,"link_external":324,"featured":28,"topics":326,"languages":327,"type":328,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"image":329,"countries":338,"tags":339,"pdf":361,"authors":407},1791,"2022-04-27T11:53:39.000Z","2026-06-02T14:09:09.000Z",2092,"basel-aml-index-2021","Basel AML Index 2021","This is the 10th Public Edition of the Basel AML Index.\n\nThe Basel AML Index is an independent annual ranking that assesses the risk of money laundering and terrorist financing (ML\u002FTF) around the world.\n\nPublished by the Basel Institute on Governance since 2012, it provides risk scores based on data from 17 publicly available sources such as the Financial Action Task Force (FATF), Transparency International, the World Bank and the World Economic Forum. The risk scores cover five domains:\n\n\n- Quality of AML\u002FCFT Framework\n- Bribery and Corruption\n- Financial Transparency and Standards\n- Public Transparency and Accountability\n- Legal and Political Risks\n\n\nThe Basel AML Index is developed and maintained by the Basel Institute's \u003Ca href=\"\u002Fnode\u002F25\">International Centre for Asset Recovery\u003C\u002Fa>.\n\n*Note: The ranking contained in the Public Edition report was updated on 23 November 2021 following a correction to the original source data used to calculate Mauritania's risk score. The same correction was made to the \u003Ca href=\"https:\u002F\u002Findex.baselgovernance.org\u002Franking\">online ranking table\u003C\u002Fa>.*\n\n### Public vs Expert and Expert Plus Editions\n\nThe Public Edition of the Basel AML Index 2021 covers 110 countries with sufficient data to calculate a reliable ML\u002FTF risk score. Data requirements this year have been raised to include at least a fourth-round FATF Mutual Evaluation Report, which measures effectiveness as well as technical compliance with the FATF’s AML\u002FCFT standards. \n\nA comprehensive list of scores and sub-indicators for 203 countries is available in the \u003Ca href=\"https:\u002F\u002Findex.baselgovernance.org\u002Fexpert-edition\">Expert Edition\u003C\u002Fa>, a subscription-based service used by companies and financial institutions as an ML\u002FTF country risk-rating tool for compliance and risk assessment purposes. \n\nThe Expert Edition Plus option offers a detailed comparative analysis of the FATF Mutual Evaluation Reports. This allows users to assess each FATF recommendation individually by focusing on specific compliance needs, for example due diligence or terrorist financing regulations. It also includes special reports on ML\u002FTF risks in the ML\u002FTF risks in Jersey, Guernsey, Isle of Man, Gibraltar and the Cayman Islands.\n\nSubscription to the Expert and Expert Plus editions is free for public-sector, international, non-profit and academic organisations.\n\nSee the website at \u003Ca href=\"https:\u002F\u002Findex.baselgovernance.org\">index.baselgovernance.org\u003C\u002Fa> for more information or request an account.",2021,"2021-09-13",[30],[312,315,318,321],{"url":313,"caption":314},"\u002Fresources\u002Fnews\u002Fwhat-this-year039s-basel-aml-index-says-about-money-laundering-threats-from-cryptocurrencies-2093"," Excerpt: Money laundering risks from virtual assets",{"url":316,"caption":317},"\u002Fresources\u002Fnews\u002Fbeneficial-ownership-transparency-is-a-pillar-of-anti-money-laundering-systems-so-it-needs-to-stand-up-insights-from-the-basel-aml-index-2021-2095"," Excerpt: Beneficial ownership transparency",{"url":319,"caption":320},"\u002Fresources\u002Fnews\u002Fmoney-laundering-risks-are-we-paying-enough-attention-to-lawyers-accountants-and-others-beyond-the-financial-sector-2096"," Excerpt: Money laundering risks among lawyers, accountants and other non-financial businesses and professions",{"url":322,"caption":323},"\u002Fresources\u002Fnews\u002Fhow-effective-are-jurisdictions-at-preventing-money-laundering-insights-from-the-10th-basel-aml-index-2094"," Excerpt: Effectiveness of AML preventive measures",[325],{"url":108,"caption":36},[30],[24],[40],{"id":330,"storage":43,"filename_disk":331,"filename_download":332,"title":333,"type":47,"created_on":302,"modified_on":302,"charset":16,"filesize":334,"width":335,"height":336,"duration":16,"embed":16,"description":16,"location":16,"tags":16,"metadata":337,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":302},"9068464e-0232-4875-b2b4-64cfbade7c5a","9068464e-0232-4875-b2b4-64cfbade7c5a.jpg","Pages-from-Basel-AML-Index-2021-final.jpg","Cover page of Basel AML Index_2021",268644,2481,3508,{},[],[340],{"id":341,"publications_id":342,"tags_id":360},4863,{"id":301,"status":15,"sort":16,"user_created":57,"date_created":302,"user_updated":58,"date_updated":303,"nid":304,"slug":305,"image":330,"title":306,"body":307,"citation":23,"language":24,"year":308,"publisher":26,"date_published":309,"external":28,"topic":343,"link_internal":344,"link_external":349,"featured":28,"topics":351,"languages":352,"type":353,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"countries":354,"tags":355,"pdf":356,"authors":359},[30],[345,346,347,348],{"url":313,"caption":314},{"url":316,"caption":317},{"url":319,"caption":320},{"url":322,"caption":323},[350],{"url":108,"caption":36},[30],[24],[40],[],[341],[357,358],1826,1827,[],{"id":4,"name":5},[362,384],{"id":357,"publications_id":363,"directus_files_id":379},{"id":301,"status":15,"sort":16,"user_created":57,"date_created":302,"user_updated":58,"date_updated":303,"nid":304,"slug":305,"image":330,"title":306,"body":307,"citation":23,"language":24,"year":308,"publisher":26,"date_published":309,"external":28,"topic":364,"link_internal":365,"link_external":370,"featured":28,"topics":372,"languages":373,"type":374,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"countries":375,"tags":376,"pdf":377,"authors":378},[30],[366,367,368,369],{"url":313,"caption":314},{"url":316,"caption":317},{"url":319,"caption":320},{"url":322,"caption":323},[371],{"url":108,"caption":36},[30],[24],[40],[],[341],[357,358],[],{"id":380,"storage":43,"filename_disk":381,"filename_download":382,"title":382,"type":88,"folder":89,"uploaded_by":57,"created_on":302,"modified_by":16,"modified_on":302,"charset":16,"filesize":383,"width":16,"height":16,"duration":16,"embed":16,"description":226,"location":16,"tags":16,"metadata":16,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":302},"c08939c3-8a2a-4c38-a242-0c6e48024038","c08939c3-8a2a-4c38-a242-0c6e48024038.pdf","Basel-AML-Index-2021-10th-Edition.pdf",2519468,{"id":358,"publications_id":385,"directus_files_id":401},{"id":301,"status":15,"sort":16,"user_created":57,"date_created":302,"user_updated":58,"date_updated":303,"nid":304,"slug":305,"image":330,"title":306,"body":307,"citation":23,"language":24,"year":308,"publisher":26,"date_published":309,"external":28,"topic":386,"link_internal":387,"link_external":392,"featured":28,"topics":394,"languages":395,"type":396,"area":16,"programme":16,"websites":16,"summary":16,"pdf_text":16,"main_points":16,"short_version":16,"subtitle":16,"countries":397,"tags":398,"pdf":399,"authors":400},[30],[388,389,390,391],{"url":313,"caption":314},{"url":316,"caption":317},{"url":319,"caption":320},{"url":322,"caption":323},[393],{"url":108,"caption":36},[30],[24],[40],[],[341],[357,358],[],{"id":402,"storage":43,"filename_disk":403,"filename_download":404,"title":404,"type":88,"folder":89,"uploaded_by":57,"created_on":302,"modified_by":16,"modified_on":302,"charset":16,"filesize":405,"width":16,"height":16,"duration":16,"embed":16,"description":406,"location":16,"tags":16,"metadata":16,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":302},"7908c544-9d1f-4bdb-8773-4c6f72969ad3","7908c544-9d1f-4bdb-8773-4c6f72969ad3.pdf","Basel-AML-Index-2021-press-release-13Sep2021.pdf",141163," Download press release",[],14,{"items":410,"total":780},[411,479,557,633,689],{"id":412,"status":15,"date_created":413,"date_updated":414,"title":415,"type":416,"body":417,"date":27,"topic":16,"slug":418,"activity":16,"nid":16,"topics":419,"activities":420,"programme":421,"area":423,"websites":426,"language":24,"image":427,"translation_of":16,"countries":439,"tags":440,"authors":459,"images":476,"translations":477,"content":478},10588,"2025-12-05T11:07:25.000Z","2026-06-03T21:58:45.000Z","Key findings of the Basel AML Index 2025","Blog","\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>","key-findings",[30],[5],[422],"International Centre for Asset Recovery",[424,425],"Asset Recovery & Enforcement","Business Integrity & Governance",[5],{"id":428,"storage":43,"filename_disk":429,"filename_download":430,"title":431,"type":432,"created_on":433,"modified_on":434,"charset":16,"filesize":435,"width":436,"height":437,"duration":16,"embed":16,"description":16,"location":16,"tags":16,"metadata":438,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":434},"989a19a3-3c43-42e7-a7eb-b716058a6c3f","989a19a3-3c43-42e7-a7eb-b716058a6c3f.png","Basel AML Index mockup.png","Basel Aml Index Mockup","image\u002Fpng","2025-12-05T11:06:25.000Z","2025-12-05T11:06:27.000Z",6081490,5000,3333,{},[],[441],{"id":442,"news_id":443,"tags_id":458},5994,{"id":412,"status":15,"user_created":444,"date_created":413,"user_updated":445,"date_updated":414,"title":415,"type":416,"body":417,"image":428,"date":27,"topic":16,"slug":418,"activity":16,"nid":16,"topics":446,"activities":447,"programme":448,"area":449,"websites":450,"translation_of":16,"language":24,"countries":451,"tags":452,"authors":453,"images":455,"translations":456,"content":457},"545a204d-e41b-4882-afda-481ecf3fd971","b0662e2a-864d-4888-a1b7-4342b7570b30",[30],[5],[422],[424,425],[5],[],[442],[454],1363,[],[],[],{"id":4,"name":5},[460],{"id":454,"news_id":461,"authors_id":473},{"id":412,"status":15,"user_created":444,"date_created":413,"user_updated":445,"date_updated":414,"title":415,"type":416,"body":417,"image":428,"date":27,"topic":16,"slug":418,"activity":16,"nid":16,"topics":462,"activities":463,"programme":464,"area":465,"websites":466,"translation_of":16,"language":24,"countries":467,"tags":468,"authors":469,"images":470,"translations":471,"content":472},[30],[5],[422],[424,425],[5],[],[442],[454],[],[],[],{"id":474,"name":475,"position":16,"image":16},575,"Kateryna Boguslavska",[],[],[],{"id":480,"status":15,"date_created":481,"date_updated":482,"title":483,"type":416,"body":484,"date":485,"topic":486,"slug":487,"activity":488,"nid":492,"topics":493,"activities":494,"programme":16,"area":16,"websites":16,"language":24,"image":495,"translation_of":16,"countries":504,"tags":505,"authors":537,"images":554,"translations":555,"content":556},10587,"2025-12-04T11:01:47.000Z","2026-05-29T22:22:39.000Z","Anti-money laundering: what is success?","_This article is adapted from the_ [_2024 Basel AML Index public report_](https:\u002F\u002Fbaselgovernance.org\u002Fpublications\u002Fbasel-aml-index-2024)_._\n\nPrivate companies and governments invest significant resources in efforts to combat money laundering and related financial crimes. Financial institutions alone spent an [estimated USD 206 billion globally](https:\u002F\u002Frisk.lexisnexis.com\u002Fglobal\u002Fen\u002Finsights-resources\u002Fresearch\u002Ftrue-cost-of-financial-crime-compliance-study-global-report) on anti-money laundering (AML) compliance in 2023 – and that figure is rising. Yet illicit assets continue to flow through and outside of regulated financial systems. Confiscation rates are still very low, with a long way to go before asset recovery becomes an effective deterrence to financially motivated crimes.\n\nThis is a disaster for countries deprived of [desperately needed funds for development](https:\u002F\u002Functad.org\u002Fsystem\u002Ffiles\u002Fofficial-document\u002Faldcafrica2020_en.pdf), while also negatively impacting on [economies](https:\u002F\u002Fwww.imf.org\u002Fen\u002FBlogs\u002FArticles\u002F2023\u002F12\u002F07\u002Ffinancial-crimes-hurt-economies-and-must-be-better-understood-and-curbed), [security](https:\u002F\u002Fbaselgovernance.org\u002Fblog\u002Fframing-financial-crime-security-threat) and the health of our [planet](https:\u002F\u002Fbaselgovernance.org\u002Fpublications\u002Fwp-50).\n\nIt is right to question whether we are on the path to success, and indeed what we mean by success in the fight against money laundering and related financial crimes. This article looks at what data we have and what else we should consider in answering this question.\n\n### 1 Are we making progress in terms of international standards?\n\nA very basic question is whether countries and regions are at least in line with minimum international standards for AML set by the FATF.\n\nWhile it is important to [question](https:\u002F\u002Fwww.rusi.org\u002Fexplore-our-research\u002Fpublications\u002Fcommentary\u002Fwhats-point-financial-action-task-force-standards) FATF data and standards, and to identify [abuses](https:\u002F\u002Fwww.rusi.org\u002Fexplore-our-research\u002Fprojects\u002Fcharting-authoritarian-abuses-fatf-standards) and [unintended consequences](https:\u002F\u002Fwww.fatf-gafi.org\u002Fen\u002Fpublications\u002FFinancialinclusionandnpoissues\u002FUnintended-consequences-project.html), ultimately they are the foundation of a harmonised global framework aimed at reducing opportunities for criminals to hide and launder illicit funds.\n\n#### _Technical compliance: fewer black holes on the map_\n\nFirst, the good news. Technical compliance with the FATF’s 40 Recommendations has, on average, increased by 12 percentage points globally since the start of the fourth round of evaluations in 2013. Much of that improvement comes from lower-performing countries catching up with the others. This indicates that more countries are at least meeting basic standards of an AML legal and institutional infrastructure. There are fewer black holes on the map.\n\nTo reach the 12 percentage point figure, we analysed data on 113 countries and jurisdictions that had both mutual evaluation reports (MERs) and subsequent follow-up reports (FURs) from the FATF.\n\nThe greatest progress has taken place in the area of preventive measures and targeted financial sanctions. The following table indicates the highest level of progress in technical compliance with FATF Recommendations across all 113 jurisdictions assessed with MERs and FURs:\n\nRecommendation\n\nAverage technical compliance\n\nR.7: Targeted financial sanctions – proliferation of weapons of mass destruction\n\n57% (up from 31%)\n\nR.19: Higher-risk countries\n\n74% (up from 51%)\n\nR.12: Politically exposed persons\n\n73% (up from 51%)\n\nR.16: Wire transfers\n\n71% (up from 50%)\n\nR.22: DNFBPs – Customer due diligence\n\n59% (up from 40%)\n\nR.6: Targeted financial sanctions – terrorism and terrorist financing\n\n62% (up from 43%)\n\nIt is good to see progress in R.22 on designated non-financial businesses and professions (DNFBPs), since this has traditionally been an area of low performance globally and a frequently criticised weakness in AML systems.\n\nThe progress brings hope that more countries have now imposed stricter customer due diligence requirements for gambling businesses, improved record-keeping standards on customer information and transactions, increased the coverage of customer due diligence requirements to relevant professionals such as property developers and precious metal dealers, and increased the responsibilities and obligations for legal professionals.\n\nWhile improvements in most Recommendations may show real progress across countries, the dynamics in R.16 on wire transfers are complicated by the increase in new payment systems and methods that are not captured by this Recommendation.\n\nIn early 2024, the FATF conducted [public consultations](https:\u002F\u002Fwww.fatf-gafi.org\u002Fen\u002Fpublications\u002FFatfrecommendations\u002FR16-public-consultation-Feb24.html) on possible amendments to R.16 to reflect this evolution in payment systems and to increase the transparency of cross-border payments. It may be that stricter requirements under R.16 will lead to a rapid deterioration in compliance in the next period.\n\n#### _Regional picture: closing the gap_\n\nIn general, countries and regions with low scores in technical compliance with the FATF Recommendations are catching up, including as a result of being [grey listed](https:\u002F\u002Fbaselgovernance.org\u002Fblog\u002Ffatf-grey-list-truth-and-myths). The top 20 countries and jurisdictions in terms of progress are mostly in Sub-Saharan Africa and Latin America and the Caribbean, followed by East Asia and Pacific, regions with low average performance previously.\n\nThe following table shows countries with the highest level of progress in technical compliance with FATF Recommendations, out of all those assessed with MERs and FURs. Countries with an asterisk (\\*) are those that are or have been on the FATF grey list.\n\nProgress between mutual evaluation report and latest follow-up report\n\nCountries and jurisdictions (progress in percentage points)\n\n40–52 percentage points\n\nMauritius\\* (52), Botswana\\* (50), Vanuatu\\* (49), Mauritania (48), Uganda\\* (40)\n\n25–39 percentage points\n\nPakistan\\* (33), Iceland\\* (33), Saint Lucia (29), Bahamas\\* (28), Sri Lanka\\* (27), Zimbabwe\\* (26)\n\n20–25 percentage points\n\nMongolia\\* (24), Kenya\\* (24), Norway (24), Costa Rica (23), Morocco\\* (23), Fiji (22), Jamaica\\* (22), Bhutan (21), Trinidad and Tobago\\* (21), Tunisia\\* (20)\n\nThese leaps in performance are not the norm, however: more than half of the assessed countries made progress of less than 10 percentage points.\n\n#### _Effectiveness is falling_\n\nMore challenging, and more depressing, is to assess changes in effectiveness according to the FATF’s 11 Immediate Outcomes (IOs). FATF follow-up reports do not currently reassess countries against these effectiveness criteria. At the global level, however, we can see that effectiveness is decreasing. And that decrease is happening from an already very low base.\n\nWe analysed the difference in global effectiveness scores as the FATF increased its coverage of fourth-round evaluation reports from 115 countries and jurisdictions in 2021 to 178 in 2024.\n\nAverage effectiveness dropped from 30 percent in 2021 to 28 percent in 2023 and remained at that low level in 2024. That means newly assessed countries have similarly low levels of effectiveness as those assessed in earlier years.\n\nWhat’s falling the most? The following table displays the IOs with the lowest effectiveness scores on average across all jurisdictions assessed with mutual evaluation reports. All of them dropped still further between 2021 and 2024:\n\nImmediate Outcome (paraphrased)\n\nAverage effectiveness\n\nIO7: Money laundering investigations, prosecutions and effective, proportionate and dissuasive sanctions\n\n20% (down from 21% in 2021)\n\nIO5: Legal persons and arrangements prevented from misuse for money laundering and terrorist financing (ML\u002FTF); beneficial ownership information available to competent authorities\n\n21% (down from 22%)\n\nIO4: Financial institutions and DNFBPs apply AML\u002FCFT preventive measures commensurate with their risks and report suspicious transactions\n\n22% (down from 24%)\n\nIO11: Prevention of financing of proliferation of weapons of mass destruction\n\n22% (down from 24%)\n\nIO3: Appropriate supervision according to a risk-based approach\n\n23% (down from 26%)\n\nIO10: Prevention of terrorist financing \u002F abuse of non-profit sector\n\n24% (down from 27%)\n\nEven in the IOs with the highest average performance globally across all jurisdictions assessed with MERs, we see decreasing effectiveness as more countries are assessed:\n\nImmediate Outcome (paraphrased)\n\nAverage effectiveness\n\nIO2: International cooperation on information, financial intelligence and evidence against criminals and assets\n\n44% (down from 49% in 2021)\n\nIO1: Risks understood and domestic coordination to combat ML\u002FTF and proliferation financing\n\n36% (down from 38%)\n\nIO6: Financial intelligence and other information used investigations\n\n34% (down from 37%)\n\nIO9: Terrorist financing investigations, prosecutions and effective, proportionate and dissuasive sanctions\n\n33% (down from 37%)\n\nIO8: Proceeds and instrumentalities of crime confiscated\n\n27% (down from 29%)\n\nIO8 on proceeds and instrumentalities of crime confiscated dropped despite hopes for a rise, as [asset recovery was an FATF priority](https:\u002F\u002Fwww.fatf-gafi.org\u002Fen\u002Ftopics\u002Fasset-recovery.html) in 2022–2023.\n\nThe big picture? Overall, countries’ AML frameworks are gradually becoming more technical compliant with the global standards but less effective in practice.\n\n### Effectiveness along the asset recovery chain\n\nData from the Basel AML Index Expert Edition Plus, which includes the full FATF dataset, can help to identify weak links in what we call the asset recovery “chain” – all the steps from preventing and detecting illicit financial flows through to their confiscation and restitution.\n\nApplying this concept to FATF data on effectiveness can give us a simplified picture of what might be weak links in the chain. The following figure shows FATF average effectiveness ratings applied to key links in the asset recovery “chain”:\n\n> The concept of the asset recovery chain is at the heart of the support provided by our International Centre for Asset Recovery (ICAR) to partner countries, including Basel AML Index-based technical assistance in strengthening understanding of and resilience to money laundering risks.\n\n### 2 What other data and metrics can we use to better measure success in practice?\n\nFATF data is the best that is available for comparing money laundering vulnerabilities in different countries and jurisdictions, as the same assessment methodology is applied globally.\n\nYet alone it is clearly not enough to give an accurate picture of success. Critics point out that many countries with high performance in both technical compliance and effectiveness are favoured destinations for those seeking to stash, spend and launder money.\n\nThis is why the Basel AML Index methodology takes into account a variety of indicators beyond the quality of a country’s AML framework as assessed by the FATF. They make it easier to evaluate financial crime risk exposure more widely as well as the functioning of the system as a whole. They also make it possible to see where data is missing or could be misleading.\n\nMany of these metrics are useful in evaluating whether systems are working in practice not only to address illicit financial flows as an end in itself but considering wider implications for people and societies.\n\nThe following figure offers some illustrative examples. See the [methodology](https:\u002F\u002Findex.baselgovernance.org\u002Fmethodology) online for more information and subscribe to the Expert Edition (free for most users outside the private sector) to view and filter the full data.\n\n### 3 Clearer goals, better evidence\n\nIt may seem obvious to readers, but it still needs to be stressed: the fight against financial crime is not a narrow technical issue but a multi-dimensional challenge that is interlinked with many aspects of our lives at both the national and global level. A single metric alone will never be sufficient to measure success.\n\nMeasuring success depends on defining the ultimate objective. The FATF’s purpose has always been to “protect financial systems and the broader economy”. This may be a useful intermediate goal. But we support rising calls to position the fight against money laundering and related financial crimes as ultimately key to achieving a more peaceful, just and sustainable world.\n\nAchieving this ambition requires a nuanced understanding of the broader factors driving money laundering risk and their far-reaching consequences, as illustrated above. It also demands robust evidence of the effectiveness and tangible benefits of AML measures, to counter scepticism and bolster the case for sustained investment in these efforts\n\nCrucially, building an effective AML system is not merely a technical task for a single government department or a compliance team. It is a collective mission that requires collaboration across sectors, industries and borders. Only through a shared commitment and clear vision of our end goal can we create a world where financial systems are resilient to exploitation for criminal purposes and where AML measures support broader societal goals.\n\n### Learn more\n\n*   Read the [13th annual Public Edition report of the Basel AML Index](https:\u002F\u002Fbaselgovernance.org\u002Fpublications\u002Fbasel-aml-index-2024).\n*   Explore the [Basel AML Index](https:\u002F\u002Findex.baselgovernance.org\u002F).","2025-02-20",[30,31],"anti-money-laundering-what-is-success-2768",[5,489,490,491],"Research","Reports","Insights",2768,[30,38],[5,489,490,491],{"id":496,"storage":43,"filename_disk":497,"filename_download":498,"title":483,"type":499,"created_on":481,"modified_on":481,"charset":16,"filesize":500,"width":501,"height":502,"duration":16,"embed":16,"description":16,"location":16,"tags":16,"metadata":503,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":481},"947bee1f-add9-40fb-9346-e20626e7c915","947bee1f-add9-40fb-9346-e20626e7c915.webp","tmp.webp","image\u002Fwebp",13936,800,533,{},[],[506,522],{"id":507,"news_id":508,"tags_id":521},5585,{"id":480,"status":15,"user_created":57,"date_created":481,"user_updated":58,"date_updated":482,"title":483,"type":416,"body":484,"image":496,"date":485,"topic":509,"slug":487,"activity":510,"nid":492,"topics":511,"activities":512,"programme":16,"area":16,"websites":16,"translation_of":16,"language":24,"countries":513,"tags":514,"authors":516,"images":518,"translations":519,"content":520},[30,31],[5,489,490,491],[30,38],[5,489,490,491],[],[507,515],5663,[517],1362,[],[],[],{"id":4,"name":5},{"id":515,"news_id":523,"tags_id":534},{"id":480,"status":15,"user_created":57,"date_created":481,"user_updated":58,"date_updated":482,"title":483,"type":416,"body":484,"image":496,"date":485,"topic":524,"slug":487,"activity":525,"nid":492,"topics":526,"activities":527,"programme":16,"area":16,"websites":16,"translation_of":16,"language":24,"countries":528,"tags":529,"authors":530,"images":531,"translations":532,"content":533},[30,31],[5,489,490,491],[30,38],[5,489,490,491],[],[507,515],[517],[],[],[],{"id":535,"name":536},818,"Anti-money laundering",[538],{"id":517,"news_id":539,"authors_id":550},{"id":480,"status":15,"user_created":57,"date_created":481,"user_updated":58,"date_updated":482,"title":483,"type":416,"body":484,"image":496,"date":485,"topic":540,"slug":487,"activity":541,"nid":492,"topics":542,"activities":543,"programme":16,"area":16,"websites":16,"translation_of":16,"language":24,"countries":544,"tags":545,"authors":546,"images":547,"translations":548,"content":549},[30,31],[5,489,490,491],[30,38],[5,489,490,491],[],[507,515],[517],[],[],[],{"id":551,"name":552,"position":16,"image":553},556,"Dr Kateryna Boguslavska","24433c58-4115-4c6c-b220-142b5a1b135b",[],[],[],{"id":558,"status":15,"date_created":559,"date_updated":560,"title":561,"type":416,"body":562,"date":563,"topic":564,"slug":565,"activity":566,"nid":567,"topics":568,"activities":569,"programme":16,"area":16,"websites":570,"language":16,"image":572,"translation_of":16,"countries":580,"tags":581,"authors":615,"images":630,"translations":631,"content":632},10528,"2025-01-22T17:01:46.000Z","2025-08-31T23:14:40.000Z","Why we can’t ignore fraud despite challenges in data and analysis","_This article is adapted from the [2024 Basel AML Index public report](https:\u002F\u002Fbaselgovernance.org\u002Fpublications\u002Fbasel-aml-index-2024)._ \n\n> Sound like someone you know?\n> \n> The 84-year-old who lost his life savings after receiving a panicked call from someone who sounded exactly like his granddaughter, saying she was in jail for drug possession and needed USD 10,000 for bail...\n> \n> The lonely widow seeking companionship online, who sent cash via a money transfer service to his long-distance love – who in actual fact was himself a victim of human trafficking, trapped in a \"scam centre\" on the other side of the world and defrauding hundreds simultaneously…\n> \n> The small business owner who suffered reputational and financial loss after his identity was stolen and used to establish shell companies and purchase goods as part of a money laundering scheme...\n> \n> The young professional, excited by the buzz around cryptocurrency, who invested USD 15,000 in an online crypto platform advertised on social media that promised guaranteed high returns – which vanished before she could withdraw them…\n> \n> The government that loses billions of dollars annually to healthcare fraud, money that should be spent on some of the most vulnerable in society.\n\nStories of fraud and scams like those in the box above make clear the human impact of financial crime. The financial impact is no less horrifying. The UK is estimated to lose over a [USD 1.5 billion annually to fraud](https:\u002F\u002Fwww.ukfinance.org.uk\u002Fsystem\u002Ffiles\u002F2024-05\u002FAnnual%20Fraud%20Report%202024_0.pdf), which makes up 40 percent of reported crime – despite significant under-reporting. Globally, individuals are estimated to lose over [USD 1 trillion to online scams](https:\u002F\u002Fwww.gasa.org\u002Fpost\u002Fglobal-state-of-scams-report-2024-1-trillion-stolen-in-12-months-gasa-feedzai) alone.\n\nWhatever the real figures, that’s a lot of money that needs to be laundered on international markets.\n\nFollowing our expert annual review meetings we decided to add indicators of fraud to the [Basel AML Index methodology](https:\u002F\u002Findex.baselgovernance.org\u002Fmethodology) this year. This decision reflects the growing significance of fraud as a predicate offence to money laundering and as a risk that regulated entities need to consider.\n\nThough definitions of fraud vary and data is both poor and inconsistent, the huge and rising [social and economic consequences of fraud](https:\u002F\u002Findex.baselgovernance.org\u002Fnews\u002Fbasel-aml-index-updates-methodology-to-reflect-rising-global-fraud-risks-2713) make it impossible to ignore in any money laundering risk assessment.\n\n> What is fraud?\n> \n> Given the lack of a globally accepted definition of fraud, we use the term loosely as an umbrella term for activities that involve deliberate deception of an individual or entity for the sake of obtaining a financial gain. At the transnational level, fraud schemes are often [orchestrated by organised criminal actors](https:\u002F\u002Fwww.unodc.org\u002Fdocuments\u002Forganized-crime\u002FPublications\u002FIssuePaperFraud-eBook.pdf) and facilitated by technology.\n\n### Fraud-related indicators in the Basel AML Index\n\nFraud-related data is sourced from the [Global Organized Crime Index](https:\u002F\u002Focindex.net\u002F) in two categories:\n\n*   “financial crimes” (covering financial fraud, tax evasion, embezzlement and misuse of funds); and\n*   “cyber-dependent crimes” (including malware, hacking, ransomware and cryptocurrency fraud).\n\nIt is not possible to disaggregate the data.\n\nBoth indicators join indicators of corruption and bribery in Domain 2 of the Basel AML Index methodology, with a weighting of 5 percent and 2.5 percent respectively. The weight of the domain (its impact on the overall Basel AML Index score) has increased from 10 percent to 17.5 percent.\n\n### What impact has the inclusion of these new indicators had?\n\nGlobally, the average risk score in Domain 2 on corruption and fraud has increased from 5.02 in 2023 to 5.12 this year following the addition of the fraud indicators. This increase may be influenced by this year’s larger country coverage, as well as by changes in performance in the existing indicators of corruption and bribery. A few highlights:\n\n*   Just under half of the countries covered – 44 percent – have a higher risk score in Domain 2. These include high-income countries and those with large financial centres. The top five from highest to lowest increase are: New Zealand (which nearly tripled its risk score), Switzerland, Norway, Denmark, Sweden. Most of these countries still have lower than average scores for corruption and bribery, but their relative wealth makes them targets for fraud, cybercrimes and the related financial crimes measured by the new indicators.\n*   Around 50 percent get a lower risk score in Domain 2 as a result of adding the two new indicators, though the impact is less drastic than for those with an increased risk score. The top five include, from biggest to smallest reduction, Antigua and Barbuda, Chad, Barbados, Central African Republic and Republic of the Congo.\n*   At the regional level, the European Union and Western Europe, North America and East Asia and Pacific saw an increase in risk scores in Domain 2 while Eastern Europe and Central Asia, Latin America and the Caribbean, South Asia and Sub-Saharan Africa saw a decrease overall. The impact on the Middle East and North Africa was negligible. This means the gap between regions is decreasing, at least in relation to performance in Domain 2.\n\nThe following map shows the regional scores in Domain 2 (“corruption and fraud risks”) after adding fraud data in 2024 (compared to 2023):\n\n### Challenges in fraud data and analysis\n\nThe reason we don’t provide more analysis of the impact of fraud data is that there are significant challenges and concerns around the quality of fraud data generally.\n\nFirst, there are no globally recognised or unified approaches to collecting data on fraud. Data is mostly collected (if at all) at the country level and according to different definitions and scopes, for example with a focus on [scams](https:\u002F\u002Fwww.gasa.org\u002Fresearch). Underreporting of fraud, perhaps due to feelings of shame or the desire among businesses to avoid reputational damage, is also a major issue.\n\nAs supported by an extensive [UNODC report on organised fraud](https:\u002F\u002Fwww.unodc.org\u002Fdocuments\u002Forganized-crime\u002FPublications\u002FIssuePaperFraud-eBook.pdf), a global standard and collaborative efforts to improve data collection, quality and sharing are urgently needed as the foundations of any coherent attempt to prevent and counter fraud.\n\nSecond, the cross-border nature of many forms of fraud and money laundering make it particularly challenging to assign risks to a particular jurisdiction.\n\nAn investment fraud scheme may be perpetrated in several financial centres, masterminded by a transnational organised crime group and carried out by individuals working in scam centres such as those [rapidly emerging in Southeast Asia](https:\u002F\u002Fwww.usip.org\u002Fpublications\u002F2024\u002F05\u002Ftransnational-crime-southeast-asia-growing-threat-global-peace-and-security). The proceeds may be laundered across multiple jurisdictions and through the crypto ecosystem before ending up in a bank account or real estate – perhaps even in the country in which it was stolen.\n\nGiven the above challenges, and until standards and data are improved, we would urge all users of the Basel AML Index to consult the detailed breakdown of indicators available in the [Expert Edition](http:\u002F\u002Findex.baselgovernance.org\u002Fexpert-edition) and to seek additional sources of data on specific fraud risks where this element is included in a risk assessment.\n\nAs a reminder, we provide free access to the Expert Edition for most organisations outside the private sector.\n\n### Learn more\n\n*   Read the [13th annual Public Edition report of the Basel AML Index](https:\u002F\u002Fbaselgovernance.org\u002Fpublications\u002Fbasel-aml-index-2024).\n*   Explore the [Basel AML Index](https:\u002F\u002Findex.baselgovernance.org\u002F).","2025-01-22",[30],"why-we-cant-ignore-fraud-despite-challenges-in-data-and-analysis-2746",[491],2746,[30],[491],[571],"Main page",{"id":573,"storage":43,"filename_disk":574,"filename_download":498,"title":561,"type":499,"created_on":575,"modified_on":575,"charset":16,"filesize":576,"width":577,"height":578,"duration":16,"embed":16,"description":16,"location":16,"tags":16,"metadata":579,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":575},"9754bec5-b441-4f0c-9094-ab11dea893c9","9754bec5-b441-4f0c-9094-ab11dea893c9.webp","2025-05-12T21:09:51.000Z",12656,1400,933,{},[],[582,599],{"id":583,"news_id":584,"tags_id":598},5673,{"id":558,"status":15,"user_created":57,"date_created":559,"user_updated":445,"date_updated":560,"title":561,"type":416,"body":562,"image":573,"date":563,"topic":585,"slug":565,"activity":586,"nid":567,"topics":587,"activities":588,"programme":16,"area":16,"websites":589,"translation_of":16,"language":16,"countries":590,"tags":591,"authors":593,"images":595,"translations":596,"content":597},[30],[491],[30],[491],[571],[],[583,592],5674,[594],1092,[],[],[],{"id":4,"name":5},{"id":592,"news_id":600,"tags_id":612},{"id":558,"status":15,"user_created":57,"date_created":559,"user_updated":445,"date_updated":560,"title":561,"type":416,"body":562,"image":573,"date":563,"topic":601,"slug":565,"activity":602,"nid":567,"topics":603,"activities":604,"programme":16,"area":16,"websites":605,"translation_of":16,"language":16,"countries":606,"tags":607,"authors":608,"images":609,"translations":610,"content":611},[30],[491],[30],[491],[571],[],[583,592],[594],[],[],[],{"id":613,"name":614},867,"Financial crime",[616],{"id":594,"news_id":617,"authors_id":629},{"id":558,"status":15,"user_created":57,"date_created":559,"user_updated":445,"date_updated":560,"title":561,"type":416,"body":562,"image":573,"date":563,"topic":618,"slug":565,"activity":619,"nid":567,"topics":620,"activities":621,"programme":16,"area":16,"websites":622,"translation_of":16,"language":16,"countries":623,"tags":624,"authors":625,"images":626,"translations":627,"content":628},[30],[491],[30],[491],[571],[],[583,592],[594],[],[],[],{"id":551,"name":552,"position":16,"image":553},[],[],[],{"id":634,"status":15,"date_created":635,"date_updated":636,"title":637,"type":416,"body":638,"date":639,"topic":640,"slug":641,"activity":642,"nid":643,"topics":644,"activities":645,"programme":16,"area":16,"websites":646,"language":16,"image":647,"translation_of":16,"countries":653,"tags":654,"authors":671,"images":686,"translations":687,"content":688},10406,"2023-11-23T17:01:37.000Z","2026-05-29T22:22:28.000Z","Virtual currencies: are we missing a trick? Insights from the Basel AML Index 2023","_Our recently released [Basel AML Index 2023](https:\u002F\u002Findex.baselgovernance.org\u002F) says that c__ountries need to supercharge their efforts to understand the evolving financial crime risks of new technologies – especially cryptocurrencies and other virtual assets._\n\n_G__lobal performance in this area has been plummeting ever since the FATF strengthened its [Recommendation 15](https:\u002F\u002Fwww.fatf-gafi.org\u002Fcontent\u002Fdam\u002Ffatf-gafi\u002Fguidance\u002FUpdated-Guidance-VA-VASP.pdf) on New Technologies, covering virtual assets and virtual asset service providers (VASPs). According to our analysis, average levels of compliance with this Recommendation have now dropped to the second weakest of all 40 Recommendations._\n\n_We argue that getting regulation, supervision and enforcement right is the only way to foster a thriving FinTech industry while protecting financial integrity, consumers and investors._\n\nCryptocurrencies and other virtual assets keep many financial crime professionals up at night. There are billion-dollar [scandals](https:\u002F\u002Fwww.investopedia.com\u002Fwhat-went-wrong-with-ftx-6828447) and [scams](https:\u002F\u002Fwww.techtarget.com\u002Fwhatis\u002Ffeature\u002FCommon-cryptocurrency-scams), rollercoaster-style [volatility](https:\u002F\u002Fwww.investopedia.com\u002Farticles\u002Finvesting\u002F052014\u002Fwhy-bitcoins-value-so-volatile.asp) and indications that organised crime groups are using cryptocurrencies to [hide and launder](https:\u002F\u002Fwww.europol.europa.eu\u002Fmedia-press\u002Fnewsroom\u002Fnews\u002Fshaping-international-response-against-criminal-misuse-of-cryptocurrencies) illicit funds.\n\nTerrorist groups including Hamas are known to have [received funding](https:\u002F\u002Fwww.reuters.com\u002Fworld\u002Fmiddle-east\u002Fhamas-armed-wing-announces-suspension-bitcoin-fundraising-2023-04-28\u002F) via cryptocurrencies, while others are [taking advantage](https:\u002F\u002Fwww.csis.org\u002Fanalysis\u002Fcryptocurrencies-and-us-sanctions-evasion-implications-russia) of cryptocurrencies to circumvent sanctions, gain revenue through [hacks](https:\u002F\u002Fwww.elliptic.co\u002Fblog\u002Fhow-the-lazarus-group-is-stepping-up-crypto-hacks-and-changing-its-tactics) and cyber scams, and fund nuclear weapons programmes.\n\nAre countries too relaxed or simply being cautious, as one may expect with any new and complex phenomenon? Perhaps they are just unsure how to regulate and supervise this fast-evolving industry? And is law enforcement up to the task?\n\nThe risks are high, and so is the uncertainty in the sector. However, there are reasons to be cautiously optimistic.\n\n*   First, because despite the fact that the crypto market is booming in terms of the number of transactions and their overall value, the percentage of criminal funds flowing through blockchains is decreasing constantly. While crypto’s first years saw nearly 20 percent of Bitcoin’s daily activity moving through illicit online markets like Silk Road, in 2022 illicit activities were [estimated](https:\u002F\u002Fgo.chainalysis.com\u002Fcrypto-myths.html) to represent less than 1 percent of the total transaction volume.\n*   Second, because regulations are becoming stronger and more harmonised in the world’s major financial centres.\n*   And third, because initial enforcement successes point at the huge potential to trace illicit financial flows and recover stolen funds.\n\n### What data do we have?\n\nThe main source of data on countries’ performance in regulating the crypto industry for AML\u002FCFT purposes comes from the FATF.\n\nIn 2018, the FATF extended its [Recommendation 15](https:\u002F\u002Fwww.fatf-gafi.org\u002Fcontent\u002Fdam\u002Ffatf-gafi\u002Fguidance\u002FUpdated-Guidance-VA-VASP.pdf) on new technologies to specifically include virtual assets and VASPs.\n\nOf the 161 jurisdictions assessed by the FATF from December 2017 until September 2023, the results for Recommendation 15 are concerning. Only 12.5 percent are evaluated as “compliant”; many more (20.5 percent) are “non-compliant”.\n\nTechnical compliance with Recommendation 15 across 161 assessed countries\n\nAverage global performance in technical compliance is just 43 percent. This is well below the average across all 40 Recommendations (65 percent) and the second lowest after the non-profit sector. And performance has worsened significantly compared to [our analysis in 2021](https:\u002F\u002Findex.baselgovernance.org\u002Fapi\u002Fuploads\u002FBasel_AML_Index_2021_10th_Edition_8a5d126c66.pdf) when the global average was at 63 percent.\n\nSome of this dramatic fall was caused by this year’s assessment of fifty new jurisdictions, but more than 30 percent of jurisdictions already included in 2021 were downgraded as a result of FATF follow-up reports.\n\n### What makes for good performance?\n\nLow levels of compliance with Recommendation 15 are especially high in places with the most to gain from innovative financial technologies, including the speed and low cost of transactions on the block- chain. Sub-Saharan Africa and South Asia, where many people remain excluded from the traditional financial sector, are currently languishing at the bottom of the list with 19 percent and 25 percent compliance respectively.\n\nTechnical compliance with FATF Recommendation 15 on new technologies: a regional picture\n\nThe few countries that are doing well in Recommendation 15 have common characteristics:\n\n*   They identify and assess ML\u002FTF risks related to new technologies, including crypto, through national and sectoral risk assessments.\n*   They have specific, binding and enforceable obligations for reporting entities (such as banks and non-financial businesses and professions) to manage and mitigate the ML\u002FTF risks of new technologies.\n*   Supervisory authorities apply a risk-based approach to supervising new technologies and proactively seek to identify and assess ML\u002FTF risks in relation to new business practices and\n*   Financial institutions establish risk mitigation measures to reduce ML\u002FTF risks identified in new business practices and products.\n\nRegulators and supervisors who have had less exposure to crypto would do well to learn from their more advanced peers.\n\n### Regulation and supervision: trial, error and improvement\n\nWhile nobody – other than the criminals – benefits from having VASPs that are unregulated and unlicensed, it is also natural for countries to be unsure and hesitant about how to regulate and supervise the fast-evolving crypto ecosystem:\n\nFirst, because virtual assets are by nature a complex field that is highly volatile and evolving fast.\n\nSecond, because the risks seem both very large and very remote. The infamous [collapse of crypto exchange FTX](https:\u002F\u002Fwww.investopedia.com\u002Fwhat-went-wrong-with-ftx-6828447) wiped out billions of dollars in virtual assets. Yet its collapse shook only the crypto industry, leaving the traditional financial sector that is still the backbone of the global economy unscathed.\n\nThird, because of the unintended consequences of regulating and enforcing too loosely or too tightly, or with measures that don’t fit the industry’s nature and needs. Experiences such as [Estonia’s](https:\u002F\u002Ffiu.ee\u002Fen\u002Fnews\u002F100-active-authorisations-estonia-providing-virtual-asset-services) highlight the difficulties in designing regulation that will foster innovation and growth of Fin-Tech companies while keeping consumers and investors safe.\n\nPerhaps as a result of this uncertainty, countries are [experimenting](https:\u002F\u002Fbaselgovernance.org\u002Fpublications\u002Fwp-38) with a wide range of ways to regulate and supervise the crypto industry.\n\nThis experimentation is natural and a good thing – as long as the authorities evaluate and learn from those experiments, share experiences internationally, and consult closely with the private sector and other stakeholders to ensure the rules are fit for purpose.\n\n> ### Flipside of the \"simple licensing process\" in Estonia \n> \n> In 2017, Estonia became one of the first EU member states to enact legislation that regulates and controls cryptocurrencies. It introduced a simple licensing process and provided favourable tax regimes for virtual assets companies. The crypto market boomed in the country: by mid-2021, there were 650 active authorisations of VASPs.\n> \n> However, after examining the market, the authorities found that simplified regulations were often misused. Some companies provided false corporate information:\n> \n> *   some businesses registered board members\u002Fdirectors without their knowledge or consent;\n>     \n> *   employees of these businesses submitted falsified CVs;\n>     \n> *   identical business plans were copied from one online website, using poor-quality machine translation.\n>     \n>     Many applications were submitted through the same providers of legal services or company services.\n>     \n>     To correct this and ensure only legitimate businesses were operating as VASPs, Estonia quickly introduced new legislation strengthening AML requirements for VASPs.\n>     \n>     Since the new legislation came into force on 15 March 2023, authorisations for 189 companies were revoked for non-compliance. Almost 200 VASPs voluntarily closed down. By 1 May 2023, only 100 active VASPs remained registered and operating.\n>     \n>     The case shows the challenges of getting regulation right. Ultimately Estonia only wants to encourage legitimate companies that will protect customer and investor funds and not increase its risks of money laundering and terrorist financing.\n>     \n\n### Reasons to be optimistic\n\nDespite the bleak picture seen in the data, some developments are encouraging:\n\nFirst, regulation is becoming stronger and more joined up. In the EU, the new Markets in Crypto-Assets ([MiCA](https:\u002F\u002Feur-lex.europa.eu\u002Flegal-content\u002FEN\u002FTXT\u002F?uri=CELEX%3A52020PC0593)) regulation aims to create a comprehensive framework for regulating crypto assets within the bloc. VASPs (called CASPs in the regulation) will need to be licensed in their host country, to adhere to AML\u002FCFT regulations like other financial institutions and to operate more transparently by, for example, providing potential investors with detailed information.\n\nIn parallel, the Transfer of Funds Regulation will ensure that transfers of cryptocurrencies – like other transfers of funds – will contain information about the sender and receiver of the funds. This implements the so-called “travel rule” of the FATF Recommendation 15, a key weak spot according to the FATF’s latest [review](https:\u002F\u002Fwww.fatf-gafi.org\u002Fcontent\u002Fdam\u002Ffatf-gafi\u002Fguidance\u002FJune2023-Targeted-Update-VA-VASP.pdf.coredownload.inline.pdf) on the matter.\n\nRegulations like MiCA will reduce the risks of regulatory arbitrage or “regulator shopping”, at least within the EU. As always, the crux will be in how effectively the legislation is implemented and in the resources and knowledge of supervisors and law enforcement. Also crucial, of course, is whether other regions follow suit with equally robust and harmonised regulation.\n\nSecond, [major enforcement successes](https:\u002F\u002Fbaselgovernance.org\u002Fblog\u002Fcrypto-asset-recovery-qa-part-1-scope-laws-and-cooperation) by some countries show the huge potential of catching organised criminals and recovering assets. These will hopefully act as a deterrent for other criminals tempted to misuse cryptocurrency for illegal purposes.\n\nThe US seized a staggering [USD 3.6 billion in Bitcoin](https:\u002F\u002Fwww.justice.gov\u002Fopa\u002Fpr\u002Ftwo-arrested-alleged-conspiracy-launder-45-billion-stolen-cryptocurrency) in connection to the 2016 Bitfinex hack – the largest ever financial seizure. The UK has [reformed its laws](https:\u002F\u002Fwww.gov.uk\u002Fgovernment\u002Fnews\u002Frobust-new-laws-to-fight-corruption-money-laundering-and-fraud) to make it easier to confiscate cryptocurrencies linked to crime after recovering over USD 370 million in crypto in 2022. Other countries are seeing their first major recoveries of crypto assets, with more and more cases in the pipeline.\n\n### Looking into the crypto ball\n\nPoor performance is a concern, but also to be expected given the growth and complexity of the crypto industry globally. And there is also reason for optimism.\n\nFew can predict how the crypto industry will evolve and the exact implications for preventing money laundering and terrorist financing. But the data is clear: countries at all stages of the FATF evaluation process need to invest serious, immediate attention and resources in understanding and addressing the risks posed by virtual assets and other new technologies.\n\nPartly for the sake of meeting FATF standards – but mostly for the sake of fostering positive financial innovation while preventing further misuse for criminals and protecting customers and investors.\n\n### More from the Basel AML Index\n\n*   Find out about the Basel AML Index, view the latest Public ranking and find out whether your organisation is eligible for a free Expert Edition account at our website: [index.baselgovernance.org](https:\u002F\u002Findex.baselgovernance.org\u002F).\n*   See the [Basel AML Index 2023 press release.](https:\u002F\u002Fbaselgovernance.org\u002Fnews\u002Fbasel-aml-index-2023-action-money-laundering-more-urgent-ever)\n*   Watch [Malcolm Wright](https:\u002F\u002Fwww.youtube.com\u002Fwatch?v=DWRkNUq0Rxw&t=996s) speaking about the regulation of virtual assets at the Basel AML Index online launch event.","2023-11-23",[30,31],"virtual-currencies-are-we-missing-a-trick-insights-from-the-basel-aml-index-2023-2541",[5],2541,[30,38],[5],[571,5],{"id":648,"storage":43,"filename_disk":649,"filename_download":498,"title":637,"type":499,"created_on":650,"modified_on":650,"charset":16,"filesize":651,"width":577,"height":578,"duration":16,"embed":16,"description":16,"location":16,"tags":16,"metadata":652,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":650},"b0a10ca2-60b4-4bc1-b1ad-98416724174e","b0a10ca2-60b4-4bc1-b1ad-98416724174e.webp","2025-05-12T21:11:21.000Z",73710,{},[],[655],{"id":656,"news_id":657,"tags_id":670},5703,{"id":634,"status":15,"user_created":57,"date_created":635,"user_updated":58,"date_updated":636,"title":637,"type":416,"body":638,"image":648,"date":639,"topic":658,"slug":641,"activity":659,"nid":643,"topics":660,"activities":661,"programme":16,"area":16,"websites":662,"translation_of":16,"language":16,"countries":663,"tags":664,"authors":665,"images":667,"translations":668,"content":669},[30,31],[5],[30,38],[5],[571,5],[],[656],[666],1131,[],[],[],{"id":4,"name":5},[672],{"id":666,"news_id":673,"authors_id":685},{"id":634,"status":15,"user_created":57,"date_created":635,"user_updated":58,"date_updated":636,"title":637,"type":416,"body":638,"image":648,"date":639,"topic":674,"slug":641,"activity":675,"nid":643,"topics":676,"activities":677,"programme":16,"area":16,"websites":678,"translation_of":16,"language":16,"countries":679,"tags":680,"authors":681,"images":682,"translations":683,"content":684},[30,31],[5],[30,38],[5],[571,5],[],[656],[666],[],[],[],{"id":551,"name":552,"position":16,"image":553},[],[],[],{"id":690,"status":15,"date_created":691,"date_updated":692,"title":693,"type":694,"body":695,"date":696,"topic":697,"slug":698,"activity":699,"nid":701,"topics":702,"activities":703,"programme":16,"area":16,"websites":704,"language":16,"image":705,"translation_of":16,"countries":724,"tags":747,"authors":776,"images":777,"translations":778,"content":779},9805,"2022-05-26T22:55:55.000Z","2026-05-29T22:21:56.000Z","Baltic AML Forum: the challenges of country risk assessment","News","Basel Institute senior advisor and former board member Hans-Peter Bauer presented at the [Baltic AML Forum](https:\u002F\u002Fkonferencijos.vz.lt\u002Fanti-money-laundering-forum\u002Fen\u002F) on 2 October on the topic of Country Risk Assessment -  A Difficult Task. \n\nThe Forum was opened by the Lithuanian Minister of Finance and attended by 150 participants, who were mainly compliance officers and tech experts from Baltic-region banks, FinTech companies and cryptocurrency ventures.\n\nPeter Bauer's presentation included references to the Basel AML Index, which raised particular interest for two reasons: \n\n*   because of the sophisticated methodology used to calculate risks of money laundering and terrorist financing (ML\u002FTF) in countries around the world; \n*   because the 8th edition of the Basel AML Index, released on 19 August, attributes the lowest ML\u002FTF country risk worldwide to Estonia – a country that recently attracted international attention for a major money laundering scandal including such reputable banks as Danske Bank, Deutsche Bank and J.P. Morgan Chase. \n\nThe Q&A session gave Peter an opportunity to explain the methodology and the results of the 2019 Basel AML Index rating. He emphasised the recommendation that Estonia – like Latvia and Lithuania  – should undergo an FATF Mutual Evaluation review by regional body Moneyval at the earliest possible opportunity, in order to reestablish trust and the reputation of an otherwise well-functioning regulatory environment.\n\n### Find out more\n\n*   About the [Basel AML Index](https:\u002F\u002Fwww.baselgovernance.org\u002Fbasel-aml-index) and 8th edition country risk rankings\n*   [How can Estonia have the lowest risk of money laundering in the Basel AML Index?](https:\u002F\u002Fwww.baselgovernance.org\u002Fblog\u002Fhow-can-estonia-have-lowest-risk-money-laundering-basel-aml-index) by Kateryna Boguslavska\n*   [Press release](https:\u002F\u002Fwww.baselgovernance.org\u002Fblog\u002Fbasel-aml-index-2019-too-little-progress-are-aml-systems-effective): Basel AML Index 2019: Too little progress – are AML systems effective?","2019-10-04",[30,31],"baltic-aml-forum-the-challenges-of-country-risk-assessment-1007",[5,700],"Presentations",1007,[30,38],[5,700],[571,5],{"id":706,"storage":43,"filename_disk":707,"filename_download":708,"title":709,"type":47,"created_on":710,"modified_on":711,"charset":16,"filesize":712,"width":713,"height":714,"duration":16,"embed":16,"description":16,"location":16,"tags":16,"metadata":715,"focal_point_x":16,"focal_point_y":16,"tus_id":16,"tus_data":16,"uploaded_on":711},"76580848-7e4e-43c7-96d1-d3be10eaf220","76580848-7e4e-43c7-96d1-d3be10eaf220.jpg","DSC_4764.jpg","Dsc 4764","2025-12-08T22:58:22.000Z","2025-12-08T22:58:23.000Z",1185423,2759,1842,{"ifd0":716,"exif":719},{"Make":717,"Model":718},"NIKON CORPORATION","NIKON D750",{"FNumber":720,"ExposureTime":721,"FocalLength":722,"ISOSpeedRatings":723},1.4,0.005,50,640,[725],{"id":726,"news_id":727,"countries_id":741},7446,{"id":690,"status":15,"user_created":57,"date_created":691,"user_updated":58,"date_updated":692,"title":693,"type":694,"body":695,"image":706,"date":696,"topic":728,"slug":698,"activity":729,"nid":701,"topics":730,"activities":731,"programme":16,"area":16,"websites":732,"translation_of":16,"language":16,"countries":733,"tags":734,"authors":737,"images":738,"translations":739,"content":740},[30,31],[5,700],[30,38],[5,700],[571,5],[726],[735,736],5398,5929,[],[],[],[],{"id":742,"name":743,"code":744,"latitude":745,"longitude":746},61,"Estonia","EE",58.59527,25.01361,[748,762],{"id":735,"news_id":749,"tags_id":761},{"id":690,"status":15,"user_created":57,"date_created":691,"user_updated":58,"date_updated":692,"title":693,"type":694,"body":695,"image":706,"date":696,"topic":750,"slug":698,"activity":751,"nid":701,"topics":752,"activities":753,"programme":16,"area":16,"websites":754,"translation_of":16,"language":16,"countries":755,"tags":756,"authors":757,"images":758,"translations":759,"content":760},[30,31],[5,700],[30,38],[5,700],[571,5],[726],[735,736],[],[],[],[],{"id":535,"name":536},{"id":736,"news_id":763,"tags_id":775},{"id":690,"status":15,"user_created":57,"date_created":691,"user_updated":58,"date_updated":692,"title":693,"type":694,"body":695,"image":706,"date":696,"topic":764,"slug":698,"activity":765,"nid":701,"topics":766,"activities":767,"programme":16,"area":16,"websites":768,"translation_of":16,"language":16,"countries":769,"tags":770,"authors":771,"images":772,"translations":773,"content":774},[30,31],[5,700],[30,38],[5,700],[571,5],[726],[735,736],[],[],[],[],{"id":4,"name":5},[],[],[],[],7,1780676643196]