Financial Crime World

ALBANIA TAKES STEPS TO ENHANCE FINANCIAL CRIME PREVENTION MEASURES

The Action against Economic Crime in Albania (AEC-AL) is a significant initiative aimed at strengthening anti-corruption and anti-money laundering regimes in the country, aligning with European and international standards. The project seeks to increase trust in the rule of law and democracy in Albania by supporting authorities in implementing key recommendations from monitoring bodies such as the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) and Group of States against Corruption (GRECO).

Partnerships

The project will work closely with various government agencies, specialized institutions, supervisory bodies, and civil society organizations to achieve its goals. Some of these key partners include:

  • Parliament of Albania
  • Ministry of Justice
  • Ministry of Interior
  • Ministry of Finance
  • Ministry for Europe and Foreign Affairs
  • Prime Minister’s Office
  • High Inspectorate on Declaration and Audit of Assets and Conflicts of Interest (HIDAACI)
  • Central Election Commission
  • Judicial and Prosecutorial Services
  • General Directorate for the Prevention of Money Laundering
  • Albanian Financial Supervisory Authority
  • Bank of Albania
  • Albanian citizens

Objectives

To achieve its objectives, the Action will deliver a range of advisory and capacity-building interventions tailored to the specific needs of beneficiaries. The project will focus on:

  • Strengthening legislation and regulatory frameworks
  • Institutional capacity building
  • Enhanced inter-agency and international cooperation

Key Results

The initiative aims to achieve several key results, including:

  • Improved legislation and institutional framework to prevent corruption, money laundering, and terrorist financing
  • Strengthened asset recovery and management practices
  • Effective mechanisms to prevent and suppress money laundering and terrorist financing
  • Boosted inter-institutional cooperation and coordination in combating economic crime

Budget and Funding

The total budget for the Action is 800,000 EUR, with 85% funded by the European Union and 15% by the Council of Europe.

Contact Information

For more information on the project, interested parties can visit the Economic Crime and Cooperation Division website or contact:

  • Marija Simić, Horizontal Facility Communication Officer, at [email protected]
  • Besnik Baka, Horizontal Facility Communication Officer, at [email protected]