Albania Boosts Fight Against Financial Crimes

Strengthening Institutions and Curbing Illicit Activities

In a bid to enhance its institutions and combat illicit activities, Albania is intensifying efforts to tackle financial crimes. The country’s main authorities are working together to fortify inter-institutional coordination, ensuring that the system operates within the bounds of law.

Key Focus Areas: Building Long-Term Capacities

• Developing skills and expertise among personnel at:
  • General Prosecutors Office: enhancing legal knowledge and investigation techniques
  • Ministry of Finance’s Financial Intelligence Unit (FIU): improving financial analysis and risk assessment capabilities
  • Albanian State Police’s Directorate against Financial Crime and Corruption (ASP): strengthening investigative skills and coordination with other agencies
  • Agency for the Administration and Confiscation of Illegal Assets (AASCA): increasing expertise in asset recovery and management

Establishing a Robust Legal Framework

The ultimate goal is to create a comprehensive legal framework that prevents money laundering and enables effective investigation into financial crimes. By doing so, Albania aims to:

• Track down and confiscate illicit assets
• Make its economy safer and more transparent
• Foster a business environment that promotes legitimate activities and discourages illicit practices