Staff Reporter :
Bangladesh has achieved significant progress in combating money laundering and terror financing, says Switzerland based institution Basel Anti-Money Laundering (AML) Index 2017.
The Basel AML Index 2017 edition covers 146 countries and provides risk ratings based on the quality of a country’s framework for AML and countering terrorism financing (AML/CFT) and related factors such as perceived levels of corruption, financial sector standards and public transparency.
The report was disclosed on August 16 2017 in Switzerland. Bangladesh ranked 4th among the quick progressed 10 countries in AML index while 82nd among 146 countries in the globe. The country had ranked 54th position in last year.
It does mean Bangladesh has developed 28 steps in 2017. The countries those achieved progress quickly in AML index are Sudan, Taiwan, Israel, Bangladesh, Germany, France, Australia, Luxembourg, Latvia and Greece.
According to the AML index, Finland ranked the top of less risk money laundering countries while Iran and Afghanistan have been shown top risk countries.
In the South Asia India’s ranked 88th position, Myanmar 13th, Nepal 14th Sri Lanka 25th and Pakistan 46th.
Bangladesh also saw substantial improvements in its ranking in the Basel AML Index 2017 edition due to the results of the FATF Mutual Evaluation Report in October 2016.
According to this report, Bangladesh has made significant progress since its last evaluation in 2009, reflecting political commitment and leadership on AML/CFT.
The positive changes were seen in developing preventive measures for the financial sector and applying significant resources to raise awareness of AML/CFT3
Positive changes for the majority of other countries that improved their ranking in the 2017 Basel AML Index were driven by the recent updates of US INCR data.
For instance, Australia, France, Germany, Greece, Israel, Latvia, Luxembourg and Taiwan, were excluded this year from the list of jurisdictions of primary concern for AML.
The Basel Institute on Governance, based in Switzerland has prepared the AML index over 146 countries in the world.
Sudan has addressed some key deficiencies pertaining to the Financial Action Task Force (FATF) recommendations as attested by the FATF-Follow up report, which led to a significantly better evaluation report compared to its last evaluation report.
The report was prepared based on information given by Financial Action Task Force (FATF), Transparency International, the World Bank and the World Economic Forum.
Bangladesh has achieved significant progress in combating money laundering and terror financing, says Switzerland based institution Basel Anti-Money Laundering (AML) Index 2017.
The Basel AML Index 2017 edition covers 146 countries and provides risk ratings based on the quality of a country’s framework for AML and countering terrorism financing (AML/CFT) and related factors such as perceived levels of corruption, financial sector standards and public transparency.
The report was disclosed on August 16 2017 in Switzerland. Bangladesh ranked 4th among the quick progressed 10 countries in AML index while 82nd among 146 countries in the globe. The country had ranked 54th position in last year.
It does mean Bangladesh has developed 28 steps in 2017. The countries those achieved progress quickly in AML index are Sudan, Taiwan, Israel, Bangladesh, Germany, France, Australia, Luxembourg, Latvia and Greece.
According to the AML index, Finland ranked the top of less risk money laundering countries while Iran and Afghanistan have been shown top risk countries.
In the South Asia India’s ranked 88th position, Myanmar 13th, Nepal 14th Sri Lanka 25th and Pakistan 46th.
Bangladesh also saw substantial improvements in its ranking in the Basel AML Index 2017 edition due to the results of the FATF Mutual Evaluation Report in October 2016.
According to this report, Bangladesh has made significant progress since its last evaluation in 2009, reflecting political commitment and leadership on AML/CFT.
The positive changes were seen in developing preventive measures for the financial sector and applying significant resources to raise awareness of AML/CFT3
Positive changes for the majority of other countries that improved their ranking in the 2017 Basel AML Index were driven by the recent updates of US INCR data.
For instance, Australia, France, Germany, Greece, Israel, Latvia, Luxembourg and Taiwan, were excluded this year from the list of jurisdictions of primary concern for AML.
The Basel Institute on Governance, based in Switzerland has prepared the AML index over 146 countries in the world.
Sudan has addressed some key deficiencies pertaining to the Financial Action Task Force (FATF) recommendations as attested by the FATF-Follow up report, which led to a significantly better evaluation report compared to its last evaluation report.
The report was prepared based on information given by Financial Action Task Force (FATF), Transparency International, the World Bank and the World Economic Forum.
