Financial Crime World

Albania’s Institutions in Combating Money Laundering and Financing of Terrorism

Albania has a comprehensive framework in place to combat money laundering (ML) and financing of terrorism (TF), with multiple institutions working together to implement effective policies.

Key Institutions Responsible for AML/CFT

  • The General Directorate for Prevention of Money Laundering (GDPML): The GDPML is the primary institution responsible for combating ML/TF in Albania. It coordinates efforts among other law enforcement agencies and reports suspicious activities to the relevant authorities.
  • Bank of Albania: As the central bank, the Bank of Albania plays a crucial role in regulating financial institutions and ensuring their compliance with AML/CFT regulations.
  • Coordination Committee for the Fight against Money Laundering (CCFML): The CCFML is a coordinating body that brings together representatives from various law enforcement agencies to discuss strategies and best practices in combating ML/TF.
  • Albanian State Police (ASP): The ASP has a dedicated Directorate for Investigation of Economic Financial Crime (DIEFC), which investigates ML/TF offenses, and local sectors with exclusive competence to investigate money laundering offenses.
  • General Prosecutor’s Office (GPO): The GPO exercises criminal prosecution and brings charges in the name of the state, ensuring that those involved in ML/TF are held accountable.

Additional Institutions Supporting AML/CFT Efforts

  • General Directorate of Customs (GDC): The GDC cooperates with other law enforcement structures to identify and report criminal offenses related to customs.
  • General Directorate of Taxation (GDT): The GDT targets crimes in the economic field, including ML, and has a special unit dedicated to preventing ML.
  • Agency for the Administration of Seized and Confiscated Assets (AASCA): The AASCA performs its activities in cooperation with other relevant institutions, ensuring that assets linked to ML/TF are effectively managed.
  • High Inspectorate of Declaration and Audit of Assets and Conflict of Interest’s (HIDAACI): HIDAACI fights corruption and economic crime through declaration and control of assets of elected and public officials and prevention of conflict of interests in the exercise of their public functions.

Collaboration and Reporting

These institutions work together to implement effective policies against ML/TF, with any suspicion, information or data concerning ML or TF reported to the GDPML. This collaborative approach ensures that Albania remains a strong partner in combating global ML/TF threats.