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Finance 20/08/2015 Uzbekistan is less exposed to money laundering risks
Uzbekistan is less exposed to money laundering risks
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan took the 107th place in Basel Anti-Money Laundering Index, which was published by Switzerland-based International Center for assets recovery.

According to index, Uzbekistan holds the 107th place among 152 countries of the world. Uzbekistan has index of 5.11 out of 10. Uzbekistan is between Uruguay (106th place) and the Netherlands (108th place). Uzbekistan has better index compared to the United States (103rd place) and Russia (57th place).

Iran topped the index with 8.59 points. Afghanistan was the second with the index of 8.48 points and Tajikistan is the third with the index of 8.26 points.

Finland has the lowest risk of money laundering with the index 2.53 points and took the 152nd place in the index. Estonia (3.19 points) and Slovenia (3.41 points) were on 151st and 150th places respectively.

The Basel AML Index measures the risk of money laundering and terrorist financing of countries based on publicly available sources. A total of 14 indicators that deal with AML/CFT regulations, corruption, financial standards, political disclosure and rule of law are aggregated into one overall risk score. By combining these various data sources, the overall risk score represents a holistic assessment addressing structural as well as functional elements in the AML/CFT framework.

As there are no quantitative data available, the Basel AML Index does not measure the actual existence of money laundering activity or amount of illicit financial money within a country but is designed to indicate the risk level, i.e. the vulnerabilities of money laundering and terrorist financing within a country.

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