DECEMBER 13 2017
Cases from Azerbaijan and Brazil to FIFA and Malaysia have shown how corrupt networks are able to open bank accounts, transfer funds across borders and acquire prime real estate and luxury goods in global capitals.
Since 2014, a global anti-money laundering body called the Financial Action Task Force (FATF) has been assessing whether countries’ measures to stop dirty money are actually working in practice – whether they are effective – in addition to the extent to which laws are in place on paper.
To date, it has assessed 43 countries across the world. As the Effective-O-Meter shows, average global anti-money laundering effectiveness stands at just 32 per cent. This means that most countries fail to prevent corrupt individuals and their professional enablers from stealing money and getting away with it, at enormous cost to citizens.