Financial Crime World

Macedonia Tackles Anti-Money Laundering with EU and Council of Europe Support

Strengthening Anti-Money Laundering Framework in Macedonia

In a bid to strengthen its anti-money laundering (AML) framework, the former Yugoslav Republic of Macedonia has partnered with the European Union and the Council of Europe under the Horizontal Facility for the Western Balkans and Turkey.

Program Objectives

The 36-month program aims to improve implementation of key recommendations from the Council of Europe’s Group of States against Corruption (GRECO) and Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL). The initiative will also focus on strengthening institutional capacities in areas such as:

  • Whistleblower Protection: Enhancing laws and procedures to protect whistleblowers who report suspicious transactions or activities.
  • Financing of Political Parties: Improving transparency and accountability in the funding of political parties, including election campaigns.
  • Election Campaigns: Strengthening regulations to prevent money laundering and illicit financial flows during election periods.

Project Details

The program has a total budget of up to 3 million Euros and is set to commence immediately. “This partnership demonstrates our commitment to combating economic crime and corruption in the Western Balkans,” said a Council of Europe spokesperson.

Project Team

The project will be led by Ilina Garevskaa, Senior Project Officer at the Council of Europe Programme Office in Skopje, who can be reached at +389 2 3100 328 or via email at Ilina.GAREVSKA@coe.int. Maja Kostova, Project Assistant, will also be involved in the project and can be contacted at +389 2 3100 324 or via email at Maja.KOSTOVA@coe.int.

Contact Points

In related news, the Council of Europe has also established a contact point in Headquarters (Strasbourg) for those interested in learning more about the program. Mustafa Ferati, Head of Unit I, can be reached at +33 (0)3 90 21 45 50 or via email at Mustafa.FERATI@coe.int. Jelena Jolic, Programme Manager, can also be contacted at +33 (0)3 90 21 48 52 or via email at Jelena.JOLIC@coe.int.