The Basel AML Index and Financial Crime Data

The collection of data is an essential element of every methodology. For the Basel AML Index, the ability to collect and analyse data on issues related to money laundering and terrorist financing (ML/TF) is crucial to the assessment of ML/TF risks. However, the collection of accurate, comprehensive, comparable data on anti-money laundering and combating the financing of terrorism (AML/CFT) regimes worldwide remains a challenge. The quality of data is struggling in the following areas: regularly updates, country coverage, solid methodology for collection and data manipulation. There is a general recognition by all stakeholders that all data-related efforts in the AML field are not enough