Most of the top 10 highest risk countries in money laundering/terrorist financing remain
unchanged for the fourth year in a row, according to the 2015 Basel AML Index.

The Basel Institute on Governance releases today the 2015 Basel Anti-Money Laundering (AML) Index, which is an annual ranking assessing 152 countries regarding money laundering/terrorism financing risks. This is the fourth annual release of the Basel AML Index and it continues to be the only research-based rating of country money laundering/terrorist financing risk by an independent non-profit institution.

On 9 March 2016, the Basel Institute on Governance, through its Managing Director Ms Gretta Fenner, and the Peruvian Judiciary, through its head of the Judiciary Victor Ticona Postigo, signed a framework agreement in a bid to fight cross-border corruption and money laundering and, in turn, facilitate the return of assets arising from such crimes.

Singapore demonstrates a strong anti-money laundering and counter financing of terrorism (AML/CFT) legislative framework but despite this, it shows significant weaknesses in its effective implementation, according to a recent review by the Financial Action Task Force. 

At the opening session of the recent High Level Conference on Illicit Financial Flows: Interagency Cooperation and Good Tax Governance in Africa (Pretoria, South Africa, 14 to 15 July 2016), the South African Finance Minister Pravin Gordhan highlighted that Africa continues to lose large sums of money annually as a result of illicit financial flows estimated at USD 50 billion every year; the application of complex ownership structures has become the most commonly used means of hiding ownership of assets.

The Basel Institute released its fifth edition of the Basel Anti-Money Laundering (AML) Index today. The Index is an annual ranking assessing the money laundering/terrorism financing risks of 149 countries. 

Experts from Basel Institute participated during a roundtable organised in Sofia, Bulgaria on 14 July 2016 by the Center for the Study of Democracy (CSD), a Bulgarian interdisciplinary public policy institute, on the topic: “Scope and implications of money laundering activities: institutional governance in the fight against money laundering in Bulgaria”. Basel Institute is a partner organisation with CSD under the Bulgarian Thematic Fund Security Project “Overcoming institutional capacity gaps to counter corruption and organised crime in Bulgaria”.

Today, Europol, INTERPOL, and the Basel Institute on Governance have formalised the establishment of a tripartite partnership for a working group on money laundering with digital currencies. The working group will aim to: