Albanian Authorities Review National Risk Assessment Report on Money Laundering and Terrorist Financing

======================

The joint European Union and Council of Europe Action against Economic Crime in Albania, in cooperation with the Financial Intelligence Agency, has concluded a series of focus group meetings with responsible Albanian institutions and private sector entities to review the draft National Risk Assessment report on money laundering and terrorist financing.

Background

Prepared by the Financial Intelligence Agency according to the Council of Europe methodology, the National Risk Assessment will help relevant authorities identify, assess, and address Albania’s money laundering and terrorist financing risks in a coordinated manner. The valuable insights provided by representatives of law enforcement agencies and supervisors of financial and non-financial institutions from both public and private sectors ensured that the final report is comprehensive and realistic.

Action Plan

The Action will continue to support public authorities in finalizing the National Risk Assessment Report, which will serve as the basis for a three-year action plan on combating money laundering and financing terrorism in Albania. The Action against Economic Crime in Albania is part of the Horizontal Facility for the Western Balkans and Turkey III, a joint program of the European Union and Council of Europe aimed at assisting beneficiaries in the region to comply with Council of Europe standards and EU acquis during the enlargement process.

Meetings

The meetings took place from October 9-11, 2023, in Tirana, Albania.