PROGRESS ON MONEY LAUNDERING RISKS ‘PARALYSED’ SAYS BASEL INSTITUTE ON GOVERNANCE
October 30th, 2022
Global progress on tackling the risks posed by money laundering and terrorist financing (ML/TF) is “paralysed” according to the latest annual index report (1) from the Basel Institute on Governance. Over the 11 years since the first report, AML risks “have changed depressingly little”, said Basel AML Index project manager Kateryna Boguslavska on October 4. The average global ML/TF risk is stuck at 5.25 out of 10 – the highest risk level – with the 128 jurisdictions covered by this year’s report (2) “failing to live up to global standards” in ...
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