The Basel Institute on Governance has officially published the 2025 Basel AML Index, offering its latest independent assessment of global money laundering and terrorist financing (ML/TF) risks.

The Basel AML Index is an independent, data-driven ranking and risk assessment tool for money laundering and related financial crime risks. It evaluates countries based on vulnerability to financial crime and their capacity to counter these threats. In particular, the risk scores cover the following five key areas: quality of Anti-Money Laundering (AML) and Counterterrorist financing (CTF) frameworks; corruption and fraud risks; financial transparency standards; public transparency and accountability; and legal and political risks.

This year’s findings indicate that while overall global ML/TF risk levels are stabilizing, the picture remains complex. Myanmar, Haiti, and the Democratic Republic of the Congo are identified as the highest-risk jurisdictions. In contrast, Finland, Iceland, and San Marino are assessed as the lowest-risk countries, reflecting their robust institutional safeguards.

A significant focus of the 2025 report is on the challenges in applying risk-based approaches. Despite international standards encouraging proportionality and risk sensitivity, many financial institutions continue to struggle with defining and managing lower-risk jurisdictions, sometimes leading to unintended consequences, such as de-risking or exclusion from the financial system.

The report also draws attention to the growing ML/TF risks related to virtual assets, which often exploit existing structural weaknesses like poor enforcement, corruption, and fraud.

Access the full Basel AML Index 2025 report here