Financial Crime World

EU and Council of Europe Launch Action against Economic Crime in Albania

The European Union (EU) and the Council of Europe have launched a new initiative to strengthen anti-corruption and anti-money laundering efforts in Albania. The Action against Economic Crime in Albania (AEC-AL) aims to promote transparency and accountability in the country by enhancing its ability to prevent and combat financial crimes.

Project Overview

The AEC-AL has a total budget of €800,000 and will work closely with various Albanian authorities, institutions, and civil society organizations. The project’s primary goal is to increase trust in the rule of law and democracy in Albania by strengthening its ability to prevent and combat financial crimes.

Objectives

The AEC-AL will focus on the following objectives:

  • Strengthening legislation and regulatory frameworks
  • Building institutional capacity
  • Promoting inter-agency and international cooperation to effectively address corruption, money laundering, and terrorist financing

Expected Results

The project is expected to achieve the following key results:

  • Improved legislation and institutional framework
  • Strengthened asset recovery practices
  • Effective mechanisms to prevent and suppress financial crimes

Stakeholders

The AEC-AL will work closely with key stakeholders, including:

  • Albanian Parliament
  • Ministry of Justice
  • Ministry of Interior
  • Ministry of Finance
  • Other relevant institutions

Advisory and Capacity-Building Interventions

The project’s advisory and capacity-building interventions are tailored to meet the specific needs of beneficiaries and build on the results achieved during the implementation of the Horizontal Facility Phase I (2016-2019).

Funding

The European Union and the Council of Europe have jointly committed €41 million to the overall Horizontal Facility programme, with 85% funded by the EU and 15% by the Council of Europe.

Contact Information

For more information on the AEC-AL, please visit the Economic Crime Division website at www.coe.int/econcrime or contact:

  • Marija Simić, Horizontal Facility Communication Officer, at [email protected]
  • Besnik Baka, Horizontal Facility Communication Officer, at [email protected]