Macedonia Tackles Anti-Money Laundering with EU and Council of Europe Support
Programme Overview
The former Yugoslav republic of Macedonia is taking significant steps to strengthen its anti-money laundering (AML) and counter-terrorism financing (CFT) framework, with the support of the European Union and the Council of Europe.
Objective
The overall objective of this programme is to contribute to democracy and the rule of law in Macedonia by preventing and controlling economic crimes in line with European and international standards.
Key Areas of Focus
- Whistleblower Protection and Reporting: Reviewing and implementing regulatory frameworks for whistleblower protection and reporting.
- Legislation and AML/CFT National Strategy: Improving legislation and adopting an AML/CFT national strategy that observes new international standards.
- Capacity Building of Law Enforcement Agencies: Enhancing the capacity of the Financial Intelligence Office (FIO), law enforcement agencies, and supervisors to fight money laundering and terrorism financing.
- Preventive System Reinforcement: Reinforcing the AML/CFT preventive system.
Expected Results
- Reviewed regulatory framework for whistleblower protection and reporting
- Improved legal and regulatory frameworks for the AML/CFT system
- Adoption of an AML/CFT strategy observing new international standards
- Enhanced capacities of law enforcement, FIO, and supervisors
- Increased beneficial ownership related preventive measures and transparency of legal persons
Programme Details
The programme is funded by the European Union and the Council of Europe, with a budget of 1.35 million euros, and will run from May 2016 to May 2019. The beneficiaries and partners include the Financial Investigation Unit, Ministry of Interior, Ministry of Justice, and State Audit Office.
Project Team
- Ilina Garevska serves as the Senior Project Officer for this initiative.
- Mustafa Ferati is the Head of Unit at the Council of Europe’s Action against Crime Department.