Wednesday, October 23, 2019

Ghana moves up in latest anti-money laundering ranking

A new anti-money laundering and terrorist financing report published by Swiss-based Basel Institute of Governance has seen Ghana moving up six places.

Last year, Ghana ranked 66th out of 125 countries in the Anti Money Laundering Index.  But with a score of 5.29, the country jumped to 60th position in the latest rankings released by the Basel Institute of Governance.

The Basel Anti-Money Laundering Index is an independent annual ranking that assesses the risk of money laundering and terrorist financing around the world.

The latest rankings put Ghana ahead of notable countries such as United Arab Emirates, India, Turkey and China.

The Basel anti-money laundering Index measures the risk of money laundering and terrorist financing in countries using data from publicly available sources such as the Financial Action Task Force, Transparency International, World Bank and the World Economic Forum.

The Index relies heavily on perception-based indicators such as the Transparency International Corruption Perceptions Index.

In contrast to financial risk models based purely on statistical calculations, the Basel AML Index evaluates structural factors by quantifying regulatory, legal, political and financial indicators that influence countries’ vulnerability to money laundering and terrorist financing.

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