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

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

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

A hybrid international conference attended by 1,300 participants has concluded that tackling the criminal use of cryptocurrencies is a race against time. Law enforcement agencies that collaborate in joint task teams and proactively collaborate with the private sector are getting ahead of the criminals. In contrast, countries that do not take the risks seriously are in danger of becoming a haven for crypto-enabled scams, money laundering and terrorist financing.

Bulgaria's National Institute of Justice (NIJ) has a critical mission: to develop knowledge, skills and competencies in Bulgaria's judicial system and thus promote the rule of law.

We are delighted to be supporting them in this mission under a new agreement covering:

The Basel AML Index – the Basel Institute’s global money laundering index and risk assessment tool – will see a small but important methodology update this year. The aim is to better reflect the progress of jurisdictions that have graduated from the so-called grey list of the Financial Action Task Force (FATF), the global standard setter for anti-money laundering and counter financing of terrorism (AML/CFT).