This webinar served to launch the 2024 Public Edition 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.
Kateryna Boguslavska, Senior Specialist, AML/CFT and lead of the Basel AML Index, presented the methodology and 2024 report findings.
Iker Lekuona, Director of the Basel Institute’s International Centre for Asset Recovery, then moderated a panel discussion covering the following topics:
The Basel AML Index – the Basel Institute’s ranking and risk assessment tool for money laundering risks around the world – will include indicators of fraud in its 2024 methodology update.
The changes reflect the growing significance of fraud as a predicate offence to money laundering and as a risk that regulated entities need to consider. Though definitions of fraud vary and data is both poor and inconsistent, the social and economic consequences of fraud make it impossible to ignore in any money laundering risk assessment.
We live in a world where global value flows are becoming more complex, with cryptocurrencies playing a significant role in moving funds. From the perspective of banks and other financial institutions, how can we address crypto-related financial crime risks and create thoughtful regulatory policy without hindering innovation?
Is financial crime really a security threat, as an increasing number of countries and experts now say? If so, in what sense? And what implications might that have for our efforts to fight it?
The issues around framing financial crime as a threat to national and international security were a key topic on the agenda of the first international Summit of the Global Coalition to Fight Financial Crime (GCFFC) in Stockholm, Sweden, on 10–11 September 2024.
Registration is now open for the 8th Global Conference on Criminal Finances and Cryptocurrencies (#8CrC). This year's conference is co-organised by Europol and the Basel Institute on Governance and will be hosted by UNODC at its headquarters in Vienna, Austria.
You can register here.
These recommendations follow the 7th Global Conference on Criminal Finances and Cryptocurrencies on 26–27 October 2023. The conference was co-organised by Europol and the Basel Institute on Governance and took place in hybrid format at Europol’s headquarters in The Hague, Netherlands.
The five recommendations highlight the need for accelerated action in order to combat the use of crypto assets, as well the allocation of more resources, better training and better collaboration.
They are to:
This blog was originally published on the FCPA Blog, which was discontinued in February 2024.
Last week’s publication of our 10th annual Basel AML Index – which assesses money laundering risks around the world and ranks jurisdictions on how well they’re addressing them – has triggered two types of response.
This blog was originally published on the FCPA Blog, which was discontinued in February 2024.
The release on October 4 of the 11th Basel AML Index drew attention not only to its ranking of money laundering risks in 128 countries but for its stark message: in a fast-changing world, progress in addressing money laundering and terrorist financing risks is not moving fast enough.
This blog was originally published on the FCPA Blog, which was discontinued in February 2024.
The release on November 13 of the 12th Basel AML Index ranking of money laundering and terrorist financing risks in 152 jurisdictions takes a look at why risks are rising and what to make of the increased crypto scrutiny.
