Basel Institute index signals dip in AML effectiveness, even as FATF technical compliance improves

The Basel Institute on Governance has welcomed a gradual improvement in anti-money laundering/counter financing of terrorism (AML/CFT) technical compliance with Financial Action Task Force (FATF) Recommendations but has warned governments' progress in improving effectiveness remains sluggish.

By Keith Nuthall

The Basel Institute on Governance has welcomed a gradual improvement in anti-money laundering/counter financing of terrorism (AML/CFT) technical compliance with Financial Action Task Force (FATF) Recommendations but has warned governments' progress in improving effectiveness remains sluggish. The 13th edition of the Basel AML Index assessed 164 countries, with Myanmar, Haiti and the Democratic Republic of the Congo (DRC) receiving the highest ML/TF risk scores, with San Marino, Iceland and Finland the lowest. [1]