Money laundering risks rise around the world, says Basel Institute

The risks of money laundering and terrorist financing (ML/TF) are increasing globally, according to the 2023 edition of the Basel AML Index, mainly through a "concerning" drop in the effectiveness of AML/CFT systems, indicated by Basel Institute on Governance analysis of Financial Action Task Force (FATF) data. In the 152 countries covered in the Index's public edition, the average global ML/TF risk level increased from 5.25 in 2022 to 5.31 in 2023, where 10 is the maximum risk.

By Sara Lewis

The risks of money laundering and terrorist financing (ML/TF) are increasing globally, according to the 2023 edition of the Basel AML Index [1], mainly through a "concerning" drop in the effectiveness of AML/CFT systems, indicated by Basel Institute on Governance analysis of Financial Action Task Force (FATF) data. In the 152 countries covered in the Index's public edition, the average global ML/TF risk level increased from 5.25 in 2022 to 5.31 in 2023, where 10 is the maximum risk.