Albania Takes Steps to Combat Terrorist Financing
Strengthening Anti-Corruption and Anti-Money Laundering Regimes
The Action against Economic Crime in Albania (AEC-AL) has been launched with the aim of strengthening anti-corruption, anti-money laundering, and countering terrorist financing regimes in the country. This project aims to increase trust in the rule of law and democracy by supporting Albanian authorities in implementing key recommendations from European and international monitoring bodies such as MONEYVAL and GRECO.
Collaboration with Government Bodies and Stakeholders
The initiative will work closely with various government bodies, specialized agencies, and supervisory bodies, including:
- Parliament of Albania
- Ministry of Justice
- Ministry of Interior
- Bank of Albania
- And other relevant stakeholders
Additionally, the project will engage Albanian citizens, civil society organizations, and private sector stakeholders to ensure a comprehensive approach.
Capacity-Building Interventions
The project will provide a mix of advisory and capacity-building interventions to support authorities in several areas, including:
- Strengthening legislation and regulatory frameworks
- Institutional capacity building
- Enhanced inter-agency and international cooperation
Expected Results
Key results expected from the Action include:
• Improved legislation and institutional framework to prevent and combat corruption, money laundering, and countering terrorist financing • Strengthened asset recovery and management practices • Effective mechanisms to prevent and suppress money laundering and terrorist financing in place • Boosted inter-institutional cooperation and coordination in combating economic crime
Budget and Funding
The project has a total budget of €800,000, with the European Union funding 85% of the overall Horizontal Facility programme, amounting to approximately €41 million.
Contact Information
More information about the Action can be found on the Economic Crime and Cooperation Division website. You can also contact Marija Simić or Besnik Baka for further details.
Impact and Consequences
The project aims to make a significant impact in combating terrorist financing in Albania, with far-reaching consequences for the country’s economy and democracy.