Financial Crime World

Macedonia, the Former Yugoslav Republic of: EU and Council of Europe Support Efforts to Prevent Financial Crimes

The former Yugoslav Republic of Macedonia has taken significant steps to strengthen its ability to prevent financial crimes such as money laundering and terrorism financing. A joint project between the European Union and the Council of Europe has provided essential support to the country’s efforts.

Programme Objectives

The overall objective of the programme is to contribute to democracy and the rule of law by preventing and controlling economic crimes in line with international standards. To achieve this goal, several specific objectives have been set:

Key Objectives

  • Review and implement a regulatory framework and guidance for whistleblower protection and reporting
  • Improve legislation and adopt an anti-money laundering and countering terrorism financing (AML/CFT) national strategy
  • Enhance the capacity of the Financial Intelligence Office (FIO)
  • Strengthen the capacities of the judiciary, prosecution, and law enforcement agencies to fight money laundering and terrorism financing
  • Improve the AML/CFT preventive system
  • Enhance international cooperation capacities for law enforcement, FIO, and supervisors

Expected Results

The programme is expected to achieve several key results:

Key Results

  • The regulatory framework and guidance for whistleblower protection and reporting are reviewed and implemented, with enhanced capacities of authorities and NGOs to monitor its implementation.
  • The AML/CFT system is reinforced through an improved legal and regulatory framework.
  • The AML/CFT Strategy observing the new international standard is adopted.
  • Legal powers, analytical, and technical capacities of the Financial Intelligence Office (FIO) are improved.
  • Capacity of the judiciary, prosecution, and law enforcement agencies to fight money laundering and terrorism financing are strengthened.
  • The AML/CFT supervisory and regulatory framework (preventative measures) is reinforced.
  • Beneficial ownership related preventive measures and transparency of legal persons are enhanced.
  • International cooperation capacities of law enforcement, FIO, and supervisors are enhanced.

Programme Funding

The programme has been funded by the European Union and the Council of Europe, with a budget of 1,350,000 EUR. The project is expected to run from May 24, 2016, to May 23, 2019.

Beneficiaries/Partners

  • Financial Investigation Unit
  • Ministry of Interior
  • Ministry of Justice
  • State Audit Office