Georgia climbs 11 spots in Basel Anti-Money Laundering Index, surpassing G7, EU nations

Georgia has climbed 11 spots in the 2024 Basel Anti-Money Laundering Index, improving its position from 102nd to 113th place, which has placed it ahead of three countries from the G7 and eight European Union and NATO member states, such as the United States, Japan, and Italy.

The Basel Institute on Governance, which publishes the AML Index, assesses money laundering risks in 164 countries and territories worldwide, ranking them from high-risk to low-risk. In this year's evaluation, Georgia achieved a score of 4.64 on a 10-point rating system, indicating a decrease in perceived money laundering risk.

Since the inception of the  Index in 2012, Georgia has improved its ranking by a total of 33 places over the past 13 years. The methodology behind the ranking comprises 17 indicators grouped into five key risk areas, which include gaps in anti-money laundering framework, corruption, and poor financial transparency.

The report draws insights from organisations including the World Bank and the US State Department, highlighting Georgia's commitment to combating financial crimes and bolstering its economic integrity.