Ghana has inched up six places in the latest anti-money laundering and terrorist financing rankings.
Ghana now stands at number 60th instead of the number 66th in 2018.
This is based on the latest Anti Money Laundering Index put together by the Swiss Basel Institute of Governance.
Ghana scored 5.29 in 2019 compared to 5.32 in 2018 and based on these scores, a country’s performance is better if it is closer to 1 than to 10.
The best-performing countries show a near-zero risk level. This ranking may impact positively on Ghana’s drive for certain international payment systems such as Paypal.
The Basel AML Index does not measure the actual amount of money laundering or terrorist financing activity, but rather is designed to assess the risk of such activity.
The Basel Institute on Governance is an independent not-for-profit competence centre specialized in corruption prevention and public governance, corporate governance and compliance, Collective Action, anti-money laundering, criminal law enforcement and the recovery of stolen assets.
The Institute is an Associated Institute of the University of Basel and regularly works with international organizations and other institutions, including the World Bank, United Nations Office for Drugs and Crime (UNODC), Organisation for Economic Cooperation and Development (OECD), Council of Europe, International Monetary Fund, the Egmont Group and Interpol.