Haiti Named Highest-Risk Country for Money Laundering and Terrorist Financing

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A recent report from the Basel AML Index has ranked Haiti as the highest-risk country for money laundering and terrorist financing in Latin America and globally.

Rising Risk Score

The Basel AML Index, which combines 16 different indicators related to corruption, financial standards, political disclosure, and rule of law, has placed Haiti at the top of the list with a risk index score of 8.25. This alarming increase in the score, which has been steadily rising since 2018 to 2021, highlights the urgent need for action to combat financial crime in the country.

Methodology

The Basel AML Index is a composite index that measures the risk level of money laundering and terrorist financing in various countries using publicly available sources such as:

Financial Action Task Force (FATF)
Transparency International
World Bank
World Economic Forum

Factors Contributing to Haiti’s High Risk Score

Experts attribute Haiti’s high risk score to a combination of factors, including:

Corruption
Lack of transparency
Weak financial regulations

Call for Increased Vigilance and Cooperation

As a result of this ranking, experts are sounding the alarm on the need for increased vigilance and cooperation to combat financial crime in Haiti. It is crucial that authorities, financial institutions, and individuals take immediate action to address these issues and prevent further financial crime.

By working together, we can reduce the risk of money laundering and terrorist financing in Haiti and protect the integrity of the global financial system.