Bangladesh 8 notches up on Basel anti money laundering index

Bangladesh has jumped 8 notches up in the Basel Anti Money Laundering (AML) Index securing 41st position.

The Basel Institute of Governance on Tuesday published the 11th edition of the AML report titled “Basel AML Index 2022: Ranking money laundering and terrorist financing risks around the world.”

Earlier, Bangladesh was ranked 33rd in the Basel Anti Money Laundering (AML) Index-2021.

Among the South Asian countries, Sri Lanka, Bhutan and Bangladesh improved their performance, while Pakistan’s risk score slightly went up.

Sri Lanka was ranked 32, Bhutan 28 and Pakistan 27.

The higher the rank is, the lower the risk of money laundering and terrorist financing.

The score on which the ranking is given is based on data collected from publicly available sources such as the Financial Action Task Force, Transparency International, the World Bank and the World Economic Forum.

According to the AML’s latest finding, The Democratic Republic Of The Congo, Haiti, Myanmar, Mozambique, Madagascar, Guinea-Bissau, Cambodia, Mali, Senegal and Vietnam are the countries with the highest money laundering risks.

The Basel AML Index is an independent annual ranking that assesses the risk of money laundering and terrorist financing (ML/TF) around the world.

While assessing the risk, Basel Institute of Governance covers five domains - Bribery and Corruption, Financial Transparency and Standards, Public Transparency and Accountability, and Legal and Political Risks.