EU Injects €1.5 Million to Bolster Anti-Money Laundering Efforts in Macedonia

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The European Union has allocated €1.5 million to assist the former Yugoslav Republic of Macedonia in strengthening its anti-money laundering system. This funding will be utilized over the next two years to enhance the capacity of the country’s Directorate for Money Launderling Prevention (DMLP) to effectively exercise its functions in line with the Law on Money Laundering Prevention.

Enhancing Capacity and Cooperation

Under this EU-funded twinning project, the DMLP will receive assistance from its Spanish partner, the Institute for Fiscal Studies. The Spanish institute will provide technical support to further develop the DMLP’s capacity and ensure effective mechanisms are established to guarantee cooperation at both national and international levels.

At the national level, the project aims to strengthen coordination between the DMLP, reporting institutions, law enforcement agencies, criminal justice authorities, and regulatory bodies.
Internationally, links will be developed with Financial Intelligence Units in other countries to improve information exchange and combat money laundering and terrorist financing.

Building on Previous Initiatives

This project builds on previous EU-funded initiatives that have already delivered significant results. In 2006, the DMLP received €1.7 million in funding, which enabled it to prepare a National Strategy on Combating Money Laundering and Financing Terrorism as well as develop a state-of-the-art information system to prevent money laundering and stem terrorist financing.

EU’s Investment in Macedonia

To date, the EU has invested some €13.55 million in twinning initiatives in Macedonia through the European Agency for Reconstruction. The agency’s Task Manager, Magdalena Makrevska, emphasized the importance of these efforts, stating that they are crucial to supporting key elements of the country’s judicial reform strategy and establishing a sustainable caseload processing capacity.

Contact Information

For more information, please contact: Gonca Stojanovska Information Officer, European Agency for Reconstruction - Operational Centre Skopje Tel: 389 2 3286 779 Fax: 389 2 3124 760 Email: gonca.stojanovska@ear.eu.int