Financial Crime World

Haiti Tops Global Money Laundering Risk Index with 8.25 Score in 2020

Highest Risk of Money Laundering and Terrorist Financing Globally and in Latin America

A recent report by the Basel AML Index has revealed that Haiti had the highest risk index score of 8.25 in 2020, making it the country with the greatest risk of money laundering and terrorist financing globally and in Latin America.

Continuous Increase in Risk Level from 2018 to 2021

The index, which combines 16 different indicators related to corruption, financial standards, political disclosure, and rule of law, shows a continuous increase in risk level from 2018 to 2021. This trend highlights the urgent need for effective measures to combat money laundering and terrorist financing.

About the Basel AML Index

The Basel AML Index is a composite score that draws data from reputable sources such as:

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

The numbers are intended to serve as a starting point for further investigation and analysis by financial institutions, law enforcement agencies, and policymakers.

Challenges in Combating Money Laundering and Terrorist Financing in Haiti

The high risk index score for Haiti reflects significant challenges in combating money laundering and terrorist financing in the country. These challenges highlight the need for enhanced cooperation among government agencies, financial institutions, and international organizations to strengthen anti-money laundering measures and prevent the misuse of the financial system.

Takeaways

  • Haiti had the highest risk index score of 8.25 in 2020.
  • The Basel AML Index is a composite score that combines 16 different indicators related to corruption, financial standards, political disclosure, and rule of law.
  • The report highlights the need for enhanced cooperation among government agencies, financial institutions, and international organizations to strengthen anti-money laundering measures.

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