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Global anti-money laundering body, Financial Action Task Force (FATF), since 2014 has been assessing whether countries’ measures to stop ‘dirty money’ are actually working in practice, whether they are effective and the extent to which written laws are in place. “Large-scale corruption schemes are only feasible if there’s a way to hide and spend the proceeds,” it says. To date, as of December 2017, 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.” Transparency International explains the methodology used and gives country-by-country scores as they emerge. Read the full details here.

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