MONEY LAUNDERING RISKS INCREASING, SAYS BASEL INSTITUTE
November 28th, 2023
The risks of money laundering and terrorist financing (ML/TF) are increasing globally, according to the 2023 edition of the Basel AML Index (1), mainly through a “concerning” drop in the effectiveness of AML/CFT systems, indicated by Basel Institute on Governance analysis of Financial Action Task Force (FATF) data. In the 152 countries covered in the Index’s public edition, the average global ML/TF risk level increased from 5.25 in 2022 to 5.31 in 2023, where 10 is the maximum risk.
Kateryna Boguslavska, project manager Basel AML Index, told a November 14 ...
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