Boosting Money Laundering Prevention in Albania: A Collaborative Effort
Strengthening Anti-Money Laundering Measures through International Cooperation
In a consultative roundtable, representatives from responsible public authorities, key stakeholders, and international partners gathered to review Albania’s National Strategy on Prevention of Money Laundering and Terrorist Financing for 2024-2030. The event aimed to gather feedback and insights from stakeholders to refine the strategic document and address the main challenges faced by Albania in combating money laundering and terrorist financing.
Expertise and Support from the European Union and Council of Europe
The Albanian Director of Financial Intelligence Agency, Ervin Koçi, praised the expertise provided by the European Union and Council of Europe. He emphasized that the improved strategy will enhance national security, enable competent authorities to effectively understand and mitigate risks, and strengthen inter-institutional cooperation.
Aligning with EU Priorities and Reinforcing Anti-Money Laundering Rules
EU Delegation to Albania Head of Operations, Lenka Vitkova, highlighted the importance of aligning Albanian legislation with EU priorities. The EU has recently reinforced its rules on anti-money laundering and terrorism financing, making it crucial for Albania to adapt its strategy accordingly.
A Joint Initiative between the European Union, Council of Europe, and Inter-Institutional Technical Working Group
The roundtable was organized jointly by the Inter-Institutional Technical Working Group led by Financial Intelligence Agency and Action against Economic Crime in Albania within the European Union/Council of Europe joint Programme Horizontal Facility for the Western Balkans and Turkey.
Strengthening Institutions and Preventing Money Laundering and Terrorist Financing
This initiative demonstrates the commitment of the EU and Council of Europe to supporting Albania’s efforts in combating economic crime, strengthening its institutions, and improving its ability to prevent money laundering and terrorist financing. The improved National Strategy is expected to have a significant impact on Albania’s ability to effectively address these critical issues.
Key Takeaways:
- A consultative roundtable was held to review Albania’s National Strategy on Prevention of Money Laundering and Terrorist Financing for 2024-2030.
- International partners, including the European Union and Council of Europe, provided expertise and support to refine the strategy.
- The improved strategy aims to enhance national security, mitigate risks, and strengthen inter-institutional cooperation.
- Albania’s efforts are aligned with EU priorities and reinforced anti-money laundering rules.