Albanian Authorities Review Draft Report on Money Laundering and Terrorist Financing Risk Assessment

In an effort to strengthen efforts against financial crimes, Albanian authorities have reviewed a draft National Risk Assessment report on money laundering and terrorist financing in cooperation with the Financial Intelligence Agency and the joint European Union and Council of Europe Action against Economic Crime.

National Risk Assessment Report

The National Risk Assessment report, prepared by the Financial Intelligence Agency according to the Council of Europe methodology, will help Albanian authorities identify, assess, and address their country’s money laundering and terrorist financing risks. The report is expected to provide valuable insights into the vulnerabilities of Albania’s financial system and inform the development of a three-year action plan to combat these crimes.

Stakeholder Input

Representatives from law enforcement agencies, supervisors of financial and non-financial institutions, and private sector entities participated in focus group meetings to review the draft report. Their input will ensure that the final report is comprehensive, realistic, and supported by all relevant stakeholders.

Action against Economic Crime in Albania

The Action against Economic Crime in Albania is part of the Horizontal Facility for the Western Balkans and Türkiye III, a joint program of the European Union and Council of Europe aimed at assisting countries in the region to comply with Council of Europe standards and European Union acquis. The program aims to support beneficiaries in the Western Balkans region and Turkey as they work towards accession to the European Union.

Next Steps

The review process is expected to continue until the finalization of the National Risk Assessment report, which will serve as a basis for Albania’s three-year action plan on combating money laundering and terrorist financing.