Financial Crime World

Swiss Watchdog’s Basel AML Index Reveals Money Laundering Risks and Global Trends in 2022

The Basel Institute on Governance, a Swiss-based non-profit organization known for its anti-money laundering (AML) and economic crime-fighting initiatives, has released the latest edition of its Basel AML Index. In its 11th public appearance, this publication offers insights into money laundering risks and trends on a regional and global scale.

Unique Approach and Impact

The Basel Institute, which has been publishing the Index since 2012, evaluates over 120 jurisdictions based on their:

  1. Legal frameworks
  2. Law enforcement
  3. Transparency, and other key factors

This data offers invaluable assistance for financial institutions, regulatory agencies, and law enforcement organizations in their risk assessment and decision-making processes.

Key Findings from the 2022 Basel AML Index

Some of the crucial discoveries from this year’s Basel AML Index are as follows:

High-Risk Jurisdictions

  • Jurisdictions like Afghanistan, North Korea, and Iran continue to warrant high-risk assessments.

Regions of Concern

  • The Middle East and Africa persist as areas of concern, with identified weaknesses in their legal frameworks and law enforcement.

Improvements in Europe and North America

  • Europe and North America have experienced improvements in their overall risk ratings.

Shifting Focus on Virtual Assets and Digital Currencies

  • There’s an increased emphasis on regulating virtual assets (VAs) and digital currencies.

Geopolitical Shifts and Pandemic Impact

  • Geopolitical shifts and the ongoing pandemic significantly influence the risk landscape, requiring continued vigilance from financial institutions and regulatory authorities.

The comprehensive evaluation and publication of the Basel AML Index contribute significantly to the global efforts against money laundering and financial crime. The Basel Institute’s commitment to transparency and research benefits not only the financial sector but also protects the global economy as a whole.

You can access the full report on the Basel Institute’s website.