2025-12-08

The following are key findings of the 14th Basel AML Index Public Edition – an independent, data-based ranking of money laundering and related financial crime risks worldwide. Risk, as measured by the Basel AML Index, is defined as a country's vulnerability to money laundering and related financial crimes and its capacities to counter these threats. The Index does not attempt to measure the actual amount of money laundering activity. Download the full report and related resources.

Not a race to the bottom – but a slow drift towards the middle

The global average score in the Basel AML Index improved only slightly in 2025, from 5.30 to 5.28 (on a 0–10 scale where 10 equals maximum risk). The change is statistically insignificant. However, the fact that the global average is not worsening offers some reassurance that efforts to counter money laundering are not being entirely outpaced by fast-moving threats, including the rising use of virtual assets and artificial intelligence for illicit purposes.

Thirteen new jurisdictions were added to this year’s Public Edition due to an increase in available data, bringing the total number covered to 177. Myanmar, Haiti and the Democratic Republic of the Congo remain at the top of the risk ranking. Finland is newly crowned as the lowest-risk jurisdiction for money laundering this year, despite a modest increase in its risk score, followed by Iceland and San Marino.

Of the jurisdictions already assessed in last year’s Public Edition, 54 percent (88 jurisdictions) improved their risk scores this year. Forty-three percent (71 jurisdictions) saw their scores worsen and 3 percent (five jurisdictions) remained unchanged.

Overall, the global picture shows a slow drift towards the middle. Improvements among several higher-risk jurisdictions – particularly in Africa – are encouraging, but they are offset by gradual declines among historically strong performers.

How jurisdictions performed across different risk domains

There was modest progress in the strength and quality of AML/CFT/CPF frameworks globally, with the average risk level improving from 5.58 to 5.54. Risk levels in corruption and fraud also edged down (5.12 to 5.09).

One of the most notable deteriorations occurred in the area of financial transparency and standards, highlighting growing concerns about beneficial ownership transparency and weaknesses in tax and financial regulation. This is particularly troubling at a time when mechanisms for evading oversight – such as the use of virtual assets (see page 19) – are expanding. Risks related to public accountability also increased slightly, from 4.23 to 4.35.

In terms of political and legal risks, the lack of meaningful change in the global average (from 4.45 to 4.46) masks significant variation between regions and individual jurisdictions.

Regional picture

Four regions saw their average risk scores increase: North America, the EU and Western Europe, Eastern Europe and Central Asia, and the Middle East and North Africa.

In the EU and Western Europe, roughly 40 percent of jurisdictions received worse scores than last year. While most remained in the same risk category, their worsening scores suggest that historically strong performers may now be stagnating or slipping back.

In contrast, Sub-Saharan Africa, South Asia, East Asia and the Pacific, and Latin America and the Caribbean saw small overall improvements.

Sub-Saharan Africa stands out. Despite a still elevated regional average score (6.14), 70 percent of jurisdictions in this region improved significantly in 2025, and six left the FATF grey list after demonstrating improvements in their AML/CFT frameworks. Seven of the top ten global improvers are African countries, and two – Burkina Faso and Côte d’Ivoire – moved from the higher to the medium risk category.

Top 10 improvers (score ↓)	Top 10 decliners (score ↑)
Liberia, Mozambique, Burkina Faso, Nigeria, Mali, Tanzania, Côte d’Ivoire, Armenia, Philippines, Croatia	Kazakhstan, Lithuania, Taiwan (Chinese Taipei), Serbia, Costa Rica, Germany, Suriname, Barbados, Greece, Nicaragua

A more nuanced understanding of risk levels

The overall picture is not one of global decline, but of a gradual clustering in the middle of the risk spectrum. This underscores the need for clearer distinctions between risk categories. For that reason, the Expert Edition of the Basel AML Index introduces a more balanced three-tier system this year, replacing the broad middle band that previously captured most jurisdictions.

The change reduces the overcrowding in the “medium risk” category and improves comparability between jurisdictions.