Published annually, the Basel AML Index ranks countries with sufficient data to calculate a reliable risk score. It is a snapshot of global money laundering (ML) and terrorist financing (TF) risks and progress by countries and regions.
According to this year’s year’s ranking, Singapore did best in ASEAN with 4.30 points for a world ranking of 118th.
Myanmar was the worst in ASEAN and the third worst in the world, with a score of 8.13. It was followed by Laos (10th), Vietnam (19th), Cambodia (26th, and Thailand (45th).
According to the report, global ML/TF risks are rising. Governments are facing challenges in imposing financial sanctions on the practice, from identifying owners of companies to outsmarting enablers of money laundering and sanctions evasion. The risks include well-funded terrorist attacks to trillions of dollars flowing out of countries through corruption and organized crime.
The report also underlines the role of new technologies such as cryptocurrency, saying countries need to focus on regulation, supervision, and law enforcement.
Find the list HERE.
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