In August 15th 2017 The Basel Institute on Governance released its 2017 edition of the Basel Anti-Money Laundering (AML) Index, an annual ranking assessing countries risk regarding money laundering/terrorism financing risks.
The Basel Institute on Governance is an independent not-for-profit competence center specialized in corruption prevention and public governance, corporate governance and compliance, anti-money laundering, criminal law enforcement and the recovery of stolen assets.
The Basel Institute is affiliated with the University of Basel and regularly works with international organizations and other institutions, including the World Bank, United Nations Office for Drugs and Crime (UNODC), Organization for Economic Cooperation and Development (OECD), Council of Europe, International Monetary Fund, the Egmont Group and Interpol.
The Basel AML Index 2017 Report summarizes the key findings and provides a detailed explanation about the methodology used. In 2017 report edition new items have been included as well as the recent changes in institution methodology. Report annual review section outlines the main discussions and feedback received from external experts with academic, supervisory and law enforcement background.
The Basel AML Index measures the risk of money laundering and terrorist financing of countries based on publicly available sources. A total of 14 indicators that deal with AML/CFT regulations, corruption, financial standards, political disclosure and rule of law are aggregated into one overall risk score. By combining these various data sources, the overall risk score represents a holistic assessment addressing structural as well as functional elements in the AML/CFT framework. As there are no quantitative data available, the Basel AML Index does not measure the actual existence of money laundering activity or amount of illicit financial money within a country but is designed to indicate the risk level, i.e. the vulnerabilities of money laundering and terrorist financing within a country.
[Doc] Basel Institute: Press Release Basel AML Index 2017
[Doc] Basel Institute: 2017 Basel AML Index Report
[Link] Basel Institute: Basel AML Index Website
For Anti-Money Laundering, Fraud Management and Compliance Solutions please visit www.aml.gr.
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