Financial Crime World

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Financial Inclusion and Crime Prevention in Macedonia: A New EU-funded Programme

Strengthening Democracy and the Rule of Law

A new programme launched by the European Union and the Council of Europe aims to prevent and control economic crimes in Macedonia, a key component in strengthening democracy and the rule of law.

Programme Objectives

The programme, which runs from 2016 to 2019, has set out to enhance financial inclusion and prevent crime through several specific objectives:

  • Reviewing and implementing a regulatory framework for whistleblower protection and reporting
  • Improving anti-money laundering (AML) and countering terrorism financing (CFT) legislation
  • Enhancing the skills and expertise of law enforcement agencies, judiciary, prosecution, and Financial Intelligence Office (FIO)
  • Reinforcing international cooperation capacities for law enforcement, FIO, and supervisors

Expected Results

The expected results of the programme include:

  • Enhanced whistleblower protection and reporting capabilities
  • Improved AML/CFT systems and supervisory skills among designated supervisors
  • Increased beneficial ownership transparency to prevent money laundering and terrorism financing

Partnership and Budget

The programme is being implemented in partnership with several key beneficiaries, including:

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

A budget of 1.35 million euros has been allocated for the project, which is set to run until May 2019.

Quotes from Programme Leaders

According to Ilina Garevska, Senior Project Officer:

The programme aims to contribute to democracy and the rule of law in Macedonia by preventing and controlling economic crimes.

Mustafa Ferati, Head of Unit at the Council of Europe’s Action against Crime Department, added that the programme is an important step towards enhancing financial inclusion and preventing crime in the region.

Disclaimer

The views expressed in this article are those of the authors and do not necessarily reflect the official opinion of the European Union or the Council of Europe. This project has been produced using funds from a joint initiative between the EU and the Council of Europe.