The Basel Institute on Governance has published an interesting compilation of its view of how countries rank as money laundering and terrorist financing jurisdictions of risk. To the extent the ranking may be accurate, it may be obviously helpful to businesses engaged in international trade and commerce and to agencies that are required to report suspected money laundering activities to financial intelligence units worldwide.
The Index may not be entirely reliable, however. According to the Index, Canada ranks as the 109th most risky state and unbelievably is listed as more of a money laundering and terrorist financing risk than each of Egypt, Taiwan, Israel, Cyprus, Saudi Arabia, the Czech Republic, Peru, Jamaica, Romania, Hungary, Slovenia, Chile, France and South Africa.
Canada’s score is close to the score given to El Salvador and Uruguay.
The top 20 worst jurisdictions (according to the Index) for money laundering and terrorist financing are as follows:
The U.S. Department of State produces a comprehensive set of reports on money laundering and terrorist financing risks as follows:
Terrorism Annual Country Reports on Terrorism
Money Laundering – International Narcotics Control Strategy Report