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Combating Money Laundering in Albania: An Overview

Albania has taken significant steps to combat money laundering (ML) and implement anti-money laundering (AML) policies. This article provides an overview of the main institutions involved in combating ML, as well as other relevant points related to AML/CFT policy.

Main Institutions Involved in Combating Money Laundering

The following institutions play a crucial role in preventing and investigating money laundering activities in Albania:

1. Albanian Financial Intelligence Unit (GDPML)

  • Responsible for monitoring and supervising ML activities.
  • Receives reports from financial institutions, law enforcement agencies, and other relevant authorities.

2. Bank of Albania

  • Also involved in combating ML.
  • Conducts regular inspections to ensure compliance with AML/CFT regulations.

3. Coordination Committee for the Fight against Money Laundering (CCFML)

  • Plans and directs AML/CFT policy.
  • Coordinates efforts among institutions to prevent and investigate ML activities.

4. Albanian State Police (ASP)

  • Investigates economic financial crimes, including money laundering.
  • Works closely with other institutions to identify and prosecute ML cases.

5. General Prosecutor’s Office (GPO)

  • Exercises criminal prosecution in ML cases.
  • Collaborates with the ASP and GDPML to investigate and prosecute ML offenses.

6. General Directorate of Customs (GDC)

  • Reports suspicious activities to the GDPML.
  • Conducts regular inspections to prevent smuggling and other customs-related crimes.

7. General Directorate of Taxation (GDT)

  • Targets crimes in the economic field, including money laundering.
  • Has specific legal obligations for supervising Not-for-Profit Organizations since 2014.

8. Agency for the Administration of Seized and Confiscated Assets (AASCA)

  • Cooperates with other institutions to manage seized assets.
  • Plays a crucial role in recovering proceeds of crime.

9. High Inspectorate of Declaration and Audit of Assets and Conflict of Interest’s (HIDAACI)

  • Fights corruption and economic crime through asset declaration and control.
  • Works closely with the GPO and ASP to investigate and prosecute ML cases.

Other Relevant Points

  • The AML/CFT Law requires financial institutions, law enforcement agencies, and other relevant authorities to report suspicious activities to the GDPML.
  • A special ML prevention unit was created within the investigative directorate of the GDT in 2020.
  • Since 2014, the GDT has specific legal obligations for supervising Not-for-Profit Organizations.