Money laundering is one of the most common crimes around the world. In recent years, the quantity of “dirty” money has been growing rapidly, which is a huge problem for the governments and financial institutions in every country, which have been persistently trying to protect themselves from this crime.
Since 2012, the Basel Institute for Governance has been putting together an independent assessment and ranking that assesses the global risk of money laundering and terrorist financing. This ranking is called “The Basel AML Index” and is based on five key factors. For example, a high-risk country has serious deficiencies in the fight against money laundering and terrorist financing, a high level of corruption and bribery, poor financial transparency and standards, a low level of accountability of public institutions, and a high level of political and legal risks.
Serbia’s overall Basel Index score in ten years varied from 5.16 (lowest) to 6.33 (highest), where 10 denotes the highest estimated risk of money laundering and terrorist financing. In the last two years, Serbia has had a score of 5.47, and in 2021, it finished in 46th place out of a total of 110 countries.
According to the latest report from Basel, Serbia is noted as a country that should boost its resistance to money laundering and terrorist financing, by more effectively applying existing laws and regulations, implementing measures to fight corruption and improving the independence of the judiciary and other public institutions.
All the mentioned statistical data and parts of the report from Basel are a warning to all taxpayers in Serbia, as well as an invitation to turn to experts in the prevention of money laundering and financing of terrorism. This is precisely one of the key services that the experienced team of professionals employed at FinExpertiza provides through consulting services so that clients can recognize vulnerabilities and threats to their business and adequately manage risks.
… Money laundering is one of the most common crimes in the world.