BANDAR SERI BEGAWAN, Nov 23 (NNN-ANN) – Brunei ranked second in the Association of Southeast Asian Nations (ASEAN), for mitigating money laundering and terrorist financing risks, according to the 2023 Basel Anti-Money Laundering Index.
The Sultanate was placed 118 out of 152 jurisdictions, by the non-profit organisation, Basel Institute on Governance. Regionally, Brunei ranked second in ASEAN after Singapore (at 118th place), the local daily, Borneo Bulletin, reported yesterday.
The 2023 Basel Anti-Money Laundering Index report said, Southeast Asia is marked by particularly significant variations in risks relating to corruption and bribery, human trafficking, environmental crime, public and financial transparency, and the political/legal system.
The report also underlined the role in financial crimes of new technologies, such as cryptocurrency, saying, countries need to focus on regulation, supervision, and enforcement of clearly identified risks.– NNN-ANN
