Financial Crime World

EU Injects €1.5 Million to Boost Money Laundering Detection Methods in Former Yugoslav Republic of Macedonia

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The European Union has allocated a significant amount of €1.5 million to help the former Yugoslav Republic of Macedonia strengthen its functioning system to prevent money laundering.

EU-funded Twinning Project

This development comes under the EU-funded twinning project, which aims to provide assistance to the Directorate for Money Laundering Prevention (DMLP) in Skopje. The Spanish Institute for Fiscal Studies will partner with DMLP to further develop its capacity to exercise its functions in line with the Law on Money Laundering Prevention.

Project Objectives

The support will focus on establishing effective mechanisms to ensure cooperation both at national and international levels. Specifically, the project aims to:

  • Enhance coordination between DMLP, reporting institutions, law enforcement agencies, criminal justice authorities, and regulatory bodies at the national level
  • Develop links with Financial Intelligence Units in other countries to improve information exchange at the international level

Previous EU Support

The DMLP has already benefited from €1.7 million EU-funded projects completed in 2006, which delivered technical assistance in preparing the National Strategy on Combating Money Laundering and Financing Terrorism. Additionally, a state-of-the-art information system was developed to prevent money laundering and stem the flow of terrorist financing.

EU’s Long-term Commitment

To date, the European Union has provided around €13.55 million through its twinning initiatives in the former Yugoslav Republic of Macedonia, with the aim of supporting key elements of the country’s judicial reform strategy to establish a sustainable caseload processing capacity.

Project Coordination and Contact Information

The project is being coordinated by Magdalena Makrevska, Task Manager at the European Agency for Reconstruction. For more information, contact Gonca Stojanovska, Information Officer at the Operational Centre Skopje of the European Agency for Reconstruction: