What is the Basel AML Index?
The Basel AML Index is the first publicly available country risk ranking focusing on money laundering/terrorist financing risk covering more than 140 countries. Its goal is to create a worldwide standard for proper country risk assessment to provide an industry-wide solution that is accessible to financial institutions of all sizes to properly manage their internal RBA approach in a way that satisfies their own and their regulators’ requirements.
Developed by the Basel Institute on Governance and its expert team from the International Centre for Asset Recovery (ICAR), the Basel AML Index is based on a composite methodology, which draws its components from a broad spectrum of data generated by third-party sources.
In doing so, and in order to measures both the existence and quality of rules and procedures as well as their
implementation in practice in the financial and public sector, the Basel AML Index resorts to various data types such as expert assessments, surveys and other perception-based data.
By applying a risk based approach (RBA) the Basel AML Index (Expert Edition) serves also as a useful risk assessment to identify and assess high risk countries to mitigate money laundering and terrorist financing risks
Press release link: here
Basel Index link: here