Financial Crime World

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Strengthening Institutions in Albania to Combat Financial Crimes

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Program Overview

A program aimed at improving the capacity of institutions in Albania to combat financial crimes, money laundering, and corruption has been outlined. The primary objectives of this program are:

Primary Objectives

  • Strengthening the Financial Intelligence Unit (FIU): To effectively measure and identify money laundering.
  • Enhancing analytical capabilities: Within the FIU for gathering, analysis, and dissemination of financial intelligence.
  • Implementing a National Strategy on Financial Crimes: And corresponding Action Plan.

Activity 1: Support to the Financial Intelligence Unit (FIU)

  • Continue strategic development of the FIU: To strengthen its capacity to effectively measure and identify money laundering.
  • Enhance analytical capabilities: Through advanced training on financial intelligence gathering, analysis, and dissemination.
  • Implement a pilot training scheme: On detecting corruption using financial analysis tools.

Activity 2: Support to the Albanian State Police (ASP)

  • Develop financial crime investigative skills: Including asset tracing.
  • Assist in implementing the National Strategy: And Action Plan.
  • Provide strategic advice and mentoring: To head of unit and investigators.
  • Improve tasking and coordination process: For effective use of limited police resources.

Activity 3: Support to the Agency for the Administration of Sequestered Assets (AASCA)

  • Develop capacity of AASCA: Including a multi-annual management plan.
  • Assist in implementing the National Strategy: And Action Plan.
  • Review existing legal and administrative framework: For proposing adjustments.
  • Integrate practices into financial investigative process: For seizure of assets.

These activities aim to enhance the capacity of institutions in Albania to combat financial crimes, money laundering, and corruption.