- September 9, 2016
- Posted by: admin
- Categories: News Albania, SEE News
Albania has significantly improved its fight against money laundering and financing of terrorism. In its index, Basel Institute on Governance has ranked Albania among the ten top countries of the world which has fought this concerning phenomena.
The 2016 edition is the fifth annual release of the Basel Anti-Money Laundering (AML) Index developed by the Basel Institute on Governance through its International Centre for Asset Recovery (ICAR). The organization has ranked the countries based on their risk for money laundering and funding of terrorism.
Albania was ranked 102nd among the 149 countries which were observed by the index, which means that the lower the ranking, the lower is the risk of money laundering and terrorism.
Albania scored 5,04 points, improving its position compared to 2015, when it scored 5,56 points.
The report underlines that Albania, Armenia, Bosnia and Costa Rica have improved their legal framework with international standards, which have offered a better ranking to these countries.
Finland has the lowest risk of money laundering and financing of terrorism. Latvia and Estonia are also considered as low risk countries. Serbia, Sri Lanka and Vanuatu have marked a high level of risk this year.
The countries with the highest risk of funding terrorism and money laundering are Vanuatu, Chile, Sri Lanka, China, Estonia, Serbia, FYROM and Turkey.
The results of the AML Basel have been extracted from the 14 indicators which have used sources such as FATF, Transparency International, World Bank and World Economic Forum.
The AML Basel index aims at offering a general overview of the level of the risk of a country and act as a strong initial point for the assessment of progress in time.
8 September, 2016