Financial Crime World

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Albania Steps Up Fight Against Economic Crime with EU Backing

A new European Union-funded project aims to strengthen Albania’s rule of law and governance by enhancing its ability to prevent and combat economic crime. The three-year initiative, worth €800,000, is part of the EU’s Horizontal Facility for the Western Balkans and Turkey.

Weaknesses Remain in Corruption Prevention Systems

According to reports from the Council of Europe’s monitoring bodies (GRECO and MONEYVAL), as well as EU Progress Reports, all countries in the region continue to suffer from weaknesses in their respective corruption/money laundering/terrorist financing prevention and suppression systems. As a result, two participating jurisdictions have been listed by the Financial Action Task Force (FATF) as jurisdictions with significant systemic deficiencies.

Areas of Concern:

  • Corruption
  • Money Laundering
  • Terrorist Financing

Action Against Economic Crime in Albania Aims High

The project, known as Action against Economic Crime in Albania (AEC-Al), aims to achieve several objectives, including:

Key Objectives:

  • Strengthening institutional capacities to counter corruption, money laundering, and the financing of terrorism in accordance with European standards.
  • Enhancing legal and institutional frameworks to prevent corruption.
  • Improving asset recovery and management practices.
  • Enhancing mechanisms to prevent and suppress money laundering/terrorist financing.

Implementation and Partnerships

The project will be implemented by the Council of Europe’s Economic Crime and Cooperation Division, with the support of international experts and local authorities in Albania. The initiative will engage stakeholders from various sectors, including government institutions, law enforcement agencies, financial regulators, and civil society organizations.

Key Partners:

  • Government Institutions
  • Law Enforcement Agencies
  • Financial Regulators
  • Civil Society Organizations

EU Support for Strengthening Rule of Law

The European Union has been a strong supporter of Albania’s efforts to strengthen its rule of law and governance. This project is part of the EU’s broader commitment to promoting democracy, stability, and economic growth in the Western Balkans region.

Contact Information

For more information about the project, please contact:

Project Team: