Bangladesh improves by 5 notches in money laundering index

Bangladesh has achieved some success in combating money laundering and terror financing, with improving its position by five points, according to a global index of a Switzerland-based organisation.

The Basel Anti-Money Laundering (AML) Index-2023, developed by the Basel Institute on Governance, puts Bangladesh at 46 on a scale that measures this risk for 152 countries.

Last year, Bangladesh’s position was 41 on the scale.

According to the index, Hayti, Chad, Myanmar and Congo are the most risky countries and Iceland is the least risky country for money laundering and terror financing.

In the index, the United States of America (USA) positioned at 119 and the United Kingdom at 140.

The Basel Institute of Governance has published the AML index since 2012, measuring the risks of money laundering and terror financing of countries based on five major indicators.

These include measures against money laundering and terror financing prevention, bribery and corruption, financial transparency and standard, Public Transparency and Accountability and political rights and rules of law.