Pakistan has jumped up the Basel AML Index, the Basel Institute’s independent, data-based index of the risk of money laundering and terrorist financing (ML/TF) around the world. The country’s risk score rose from 6.45 to 7.66 out of 10, where 10 equals the highest assessed risk of ML/TF.
Child labour. Forced evictions. Confiscation of migrant-worker identity documents. Crackdowns by security forces on peaceful assemblies. Serious illness resulting from corporate pollution.
These are all examples of human rights abuses that might arise in business operations or supply chains, knowingly or unknowingly, in a company’s home country or abroad.
In 2019, Estonia achieved the lowest risk score out of the 125 countries in the Public Edition of the Basel AML Index, 2.68 out of 10. In fact, Estonia has consistently been among the top performers since 2012, when the Basel AML index was first calculated.
Money laundering risks in Malta have been in the headlines recently.
During his former position as Compliance Operations Manager at LafargeHolcim, compliance and communications professional Kyle Lewis worked closely with the Basel Institute on developing a new open-source search tool to help compliance officers spot and analyse links between individuals, organisations and criminal activities. He kindly provided this testimonial for the Basel Institute's Annual Report 2018.
The Basel Institute is collaborating with Nestor Advisors on a project to advise on and provide support for the improvement of the compliance management system of the Société Tunisienne de l’Electricité et du Gaz (STEG), Tunisia’s state-owned gas and electricity production and distribution company.
The International Centre for Collective Action (ICCA) has launched two projects to bolster the evidence base and business case for two different types of Collective Action initiatives: Integrity Pacts and Certification Initiatives.
With financial support from the KBA-NotaSys Integrity Fund, the projects involve analysis and sharing of lessons learned. Findings and new resources on Integrity Pacts and Certification Initiatives will be added to the ICCA’s B20 Collective Action Hub.
The trend among organisations with well-established anti-corruption compliance programmes is to integrate these into enterprise-wide risk management frameworks and set measurable indicators to ensure that their programmes remain fit for purpose. There is growing recognition that effective compliance contributes to a healthy business model and sustainable growth.