Haiti Ranked Second-Worst in World for Money Laundering Efforts

The latest Anti-Money Laundering (AML) Index from the Basel Institute has ranked Haiti as the second-worst country in the world for its efforts to combat money laundering. This comes as no surprise given the numerous allegations of corruption and money laundering against the country’s current and former political leaders.

Poor Performance Due to Lack of Prosecutions and Convictions

Haiti’s poor performance can be attributed to a lack of successful prosecutions and convictions for money laundering offenses over the past five years, according to the Financial Action Task Force (FATF). The country’s constitution also grants members of parliament immunity while in office, making it difficult to prosecute them for financial crimes.

Consequences of Weak AML Efforts

Experts have pointed out that this has led to criminal actors increasingly running for office and using their positions to finance illegal activities. Haiti’s corruption problem is even more pervasive than its money laundering issue, with the two often working hand-in-hand.

Other Countries in the Region

• The Bahamas and Saint Kitts and Nevis: Also ranked towards the bottom of the AML Index
• Dominica: Topped the Americas’ rankings for its effective anti-money laundering measures
• Ecuador, Brazil, and Mexico: Ranked in the middle of the pack, despite their longstanding role in regional crime
  • Each country has struggled with corruption and bribery, but public transparency has been a saving grace for Mexico
• The Dominican Republic: Ranked highest in the region for its anti-money laundering efforts, despite understaffing and limited resources

Lessons Learned

Overall, the Basel Institute’s AML Index highlights the need for countries to strengthen their financial crime prosecution strategies to combat money laundering and corruption.