With a score of 2.14 points, Morocco was ranked 75ᵉ out of a total of 177 countries. The kingdom is in the category of “vigilant countries” which implement effective measures to combat financial crimes and an effective regulatory framework aimed at strengthening their resilience in the face of the risks of financial and economic crime. 63 other countries, including the United States of America, Germany and Japan are classified in this category.
To read: Morocco: financial crimes fell by 47% in 2021
Finland, Denmark and Iceland dominate this world ranking. They are considered “transparent countries”. Norway, Sweden, Canada and Singapore follow which are classified in the category of countries knowing the least financial crimes in the world. In the category of weakly organized countries where there is a high rate of financial crimes and corruption, there are 16 countries, including Yemen, Libya, Iran, Syria, Chad, Sudan and Venezuela. Myanmar closes the walking of the ranking.
The global economic and financial crime index was carried out on the basis of three main criteria: money laundering, corruption and organized crime. According to the report of the Secretariat Society, money laundering, fraud and market abuses have taken alarming proportions due to the development of artificial intelligence, virtual assets, as well as decentralized financing.
To read: money laundering: Morocco leaves the gray list of Europe
Illicit financial flows worldwide will reach 4,500 to 6,000 billion US dollars by 2030 and financial crimes reinforced by artificial intelligence will increase by 60 % by the end of the current year, indicates the report, insisting on the importance for financial institutions to adopt regulatory technological solutions (regtech) to strengthen the efficiency of conformity and proactive against financial crime. He also underlines the need to develop mechanisms for detecting and combating electronic financial fraud supported by artificial intelligence.
