2017 edition of the Basel Anti-Money Laundering (AML) Index released

The Basel AML Index is an annual ranking assessing country risk regarding money laundering/terrorism financing. It focuses on anti-money laundering and counter terrorist financing (AML/CTF) frameworks and other related factors such as financial/public transparency and judicial strength.

On 16 August 2017, the Basel Institute on Governance released its 2017 edition of the index.

The Basel AML Index scores provide an overall picture of a country’s risk level and serve as a solid starting point for examining changes over time. While the Basel AML Index scores summarise a complex and multidimensional issue, [but] they should not be viewed as an actual quantitative measurement of money laundering and terrorist financing activity.

the Institute says.

In the EU the highest risk countries are Hungary, Italy, Luxembourg, Greece and Austria.

Germany and France improved their positions, while Hungary demonstrated the worst deterioration in the region this year.

Here below, we provide an extract of the 2017 Basel AML Index, with reference to the EU-28 countries:

Rank Country Overall Score
1 Finland 3.04
2 Lithuania 3.67
3 Estonia 3.83
4 Bulgaria 3.87
5 Slovenia 4.02
6 Denmark 4.05
7 Croatia 4.11
8 Sweden 4.25
9 Latvia 4.44
11 Poland 4.50
11 Romania 4.50
12 France 4.52
13 Norway 4.56
14 Czech Republic 4.57
15 Ireland 4.62
16 Belgium 4.66
17 Germany 4.78
18 Slovakia 4.78
19 United Kingdom 4.81
21 Cyprus 4.87
21 Spain 4.87
22 Portugal 4.90
23 Netherlands 4.93
24 Austria 5.06
25 Greece 5.11
26 Luxembourg 5.40
28 Italy 5.41
28 Hungary 5.41

Since the beginning of 2017, we make all officers aware of the requirements and obligations placed on the company and on themselves as individuals by anti-money laundering legislation and give targeted training to those most likely to encounter money laundering, according to our AML Policy.