The Basel AML Index is an annual ranking assessing country risk regarding money laundering/terrorism financing. It focuses on anti-money laundering and counter terrorist financing (AML/CTF) frameworks and other related factors such as financial/public transparency and judicial strength. This is the fifth edition of the Basel Anti-Money Laundering (AML) Index developed by the Basel Institute on […]

Interesting article on the latest Basel 2015 AML Index and the impact of FATF standards on country evaluation. Calls made for the group to take ‘a “holistic approach to the risks of money laundering and terrorist financing,” such as including the perception of corruption and the general transparency of a country’s financial sector and even […]

On November 12, the Financial Crimes Enforcement Network (FinCEN) issued an advisory announcing that the Financial Action Task Force (FATF) has updated its list of jurisdictions that have strategic deficiencies in their anti-money laundering (AML) and counter-terrorist financing (CFT) regimes. Specifically, FATF has noted that: (1) Iran and the Democratic People’s Republic of Korea are […]

The Financial Conduct Authority, the U.K.’s financial regulator, has pulled a controversial list of countries that the organization considers high risk for money laundering and financial crime. The Cayman Islands government and financial services association Cayman Finance had criticized Cayman’s inclusion and the lack of transparency around the methodology used to draw up the list. […]

The Basel AML Index is a composite country risk ranking developed by the Basel Institute on Governance and its expert team from the International Centre for Asset Recovery (ICAR). The purpose of the Basel AML Index is to analyze countries risk regarding money laundering / terrorism financing, and other related factors such as corruption and […]

On May 29the Caribbean Financial Action Task Force (CFATF) issued a public statement in which it said that it “recognises Guyana as a jurisdiction with significant AML/CFT (anti-money laundering and counter terrorism financing) deficiencies”. That’s fair enough since Guyana is the only Caribbean Community (CARICOM) country that has not adopted AML/CFT legislation and other measures […]

  Over the last few years, rapid developments in financial information, technology and communication has enabled money to be moved anywhere in the world with speed and ease. This, together with other factors such as the general use of the US$ in black market economies, the progress of the Euro-market, the global trend of financial […]

The JFSC have made amendments to the Schedule D of the AML Handbook, see link below http://www.jerseyfsc.org/pdf/Part_1_Appendix_D1_AML_Handbook_27_Nov.pdf http://www.jerseyfsc.org/pdf/Part_4_AML_Handbook_2013_Dec_24.pdf View Appendix Jersey firms please ensure that you review your AML Risk Ratings for these countries and amend as appropriate.