Pakistan made significant progress in global anti money laundering and terrorist financing index: Report

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Pakistan made significant progress in global anti money laundering and terrorist financing index: Report

*ISLAMABAD - The latest report on global anti money laundering and terrorist financing index comes as a sigh of relief for Pakistan.*

*As per the report, Pakistan has made significant progress on the list of the global Anti-Money Laundering (AML) and Terrorists Financing index.*

*However the report further reveals that Pakistan still remains one of the most vulnerable countries, according to the Basel AML Index 2018.*

As per the report, Pakistan improved its ranking by 0.08 points to finish at the 6.49-point on the Index, among 123 countries. However, the risk of anti-money laundering and financial terrorism remained high in Pakistan, as it remained well over the risk score of 5.0.

The Basel Anti Money Laundering (AML) Index is an independent annual ranking that assesses the risk of money laundering and terrorist financing (ML/TF) around the world.

“Money laundering and terrorist financing continue to cripple economies, distort international finances and harm citizens around the globe. Estimates of the amount of money laundered worldwide range from US$500 billion to a staggering US$1 trillion,” stated the report.