Financial Crime World

Title: European Union and Council of Europe Launch New Project to Combat Financial Crime in Armenia

Background

The European Union (EU) and the Council of Europe (CoE) have announced the launch of a new project, “Partnership for Good Governance,” to strengthen Armenia’s institutions and enhance their capacities in the prevention of corruption, money laundering, and economic crime.

About the Project

  • The project aims to promote good governance in the Eastern Partnership region.
  • The initiative has a total budget of EUR 630,000, with 80% co-funded by the EU and 20% by the CoE.
  • The project is expected to run from March 1, 2023, to February 28, 2026.

Institutions Involved

The project will provide tailored support to the following Armenian institutions:

  • Ministry of Justice
  • Ministry of Internal Affairs
  • Anti-Corruption Committee
  • Corruption Prevention Commission
  • Civil Service Council
  • Central Bank of Armenia
  • Financial Monitoring Center
  • National Security Service
  • Civil Service Office
  • Office of the General Prosecutor
  • Department for Combatting Economic Crimes
  • Investigative Committee
  • Judiciary

Additionally, civil society and the general public will be engaged in awareness-raising activities.

Objectives

The project aims to:

  • Improve Armenia’s legislative, strategic, and institutional frameworks to effectively combat corruption.
  • Strengthen the capacity to detect, investigate, and prosecute corruption-related offenses.
  • Upgrade legislative and institutional frameworks and increase technical capacities in anti-money laundering, countering terrorism financing, and related asset recovery.

Cooperation and Further Information

The initiative builds on the achievements of the previous phases of the Partnership for Good Governance and will work in close cooperation with key stakeholders.

For further information about the “Partnership for Good Governance,” please visit the program’s website http://partnership-governance-eu.coe.int/ or contact them at email@partnership-governance-eu.coe.int. The Council of Europe office in Yerevan can also be reached at https://www.coe.int/yerevan or email@coe.int.