Academia Must Contribute to Knowledge Exchange, Industry-Government Cooperation to Combat AML/CFT

Tirana, Albania - As Albania continues to struggle with money laundering and financial crimes, experts have emphasized the crucial role academia must play in contributing to knowledge exchange and industry-government cooperation.

Improving Academic Content and Research Quality

According to Ramandeep Chhina, an international AML/CFT consultant, academic institutions should reform their sustainable action plans and strategies to improve academic content, teaching, and research quality. This will enable them to produce a future generation of professionals who are fully prepared to tackle money laundering and financial crimes.

Investigative Journalism and Training

Albanian journalists have made significant contributions to the fight against AML/CFT by investigating assets acquired through corruption and organized crime. However, their efforts have been limited due to a lack of institutional transparency and apathy among civil society organizations (CSOs) in reporting on organized crime and money laundering.

To address this gap, experts such as Fabian Zhilla, Global Insight expert, suggested that investigative journalists require training on penal law, data access, anonymity, and reporting on sensitive issues. This training could be facilitated through cooperation with academia and experts.

Civil Society’s Contribution

However, Mrs. Kristina Voko from the Balkan Investigative Reporting Network (BIRN) disagreed, stating that while journalists may not have all the necessary knowledge, there is no urgent need to train them. She emphasized that the lack of institutional transparency and CSOs’ apathy in reporting on organized crime and money laundering is not supplying the media with information to report on.

The Importance of Civil Society’s Contribution

On the other hand, Zef Preçi, head of the Albanian Center for Economic Research (ACER), stressed the importance of civil society’s contribution to the fight against AML/CFT. He noted that ACER has conducted research based on the findings of investigative journalists and emphasized the need for thorough studies addressing early risk treatment.

Criticism of the Government’s Approach

The Director of ACER also criticized the Albanian government for displaying an emotional approach to AML/CFT issues, rather than a proactive and rational one. This has led to few actions being undertaken to tackle money laundering.

Conclusion

In conclusion, this Forum has equipped representatives from civil society, academia, and media with a renewed perspective on their role in countering and preventing money laundering. It is essential that they take on a more active role in the AML sector to combat these crimes effectively.

The Institute for Democracy and Mediation (IDM) organized this event as part of its project “The Albanian Policy Platform: Moving forward on the EU integration agenda,” supported by Hanns-Seidel Foundation.