Financial Crime World

Macedonia: Strengthening Democracy and Rule of Law through Money Laundering Detection Methods Programme

The European Union (EU) and the Council of Europe have launched a two-year programme to prevent and control economic crimes in accordance with European and international standards in Macedonia, the former Yugoslav Republic.

Overview

The programme aims to contribute to the prevention and control of economic crimes in Macedonia, including money laundering and terrorism financing. The specific objectives of the programme include:

  • Reviewing and implementing a regulatory framework for whistleblower protection and reporting
  • Improving legislation on anti-money laundering (AML) and countering terrorism financing (CFT)
  • Building capacity for the Financial Intelligence Office (FIO)
  • Strengthening the capacities of judiciary, prosecution, and law enforcement agencies to fight money laundering and terrorism financing

Expected Results

The programme expects to achieve the following results:

  • A reviewed and implemented regulatory framework and guidance for whistleblower protection and reporting
  • Improved legal and regulatory frameworks for anti-money laundering (AML) and countering terrorism financing (CFT)
  • Adoption of a new international standard-compliant AML/CFT strategy
  • Enhanced capacities of authorities and NGOs to monitor the implementation of whistleblower protection and reporting

Programme Components

The programme includes several components, including:

  • Improving the legal powers, analytical, and technical capacities of the FIO
  • Strengthening the capacity of judiciary, prosecution, and law enforcement agencies to fight money laundering and terrorism financing
  • Enhancing beneficial ownership related preventive measures and transparency of legal persons
  • International cooperation capacities of law enforcement, FIO, and supervisors

Implementation

The programme is being implemented by the Financial Investigation Unit, Ministry of Interior, Ministry of Justice, and State Audit Office. The budget for the programme is 1,350,000 EUR provided by the European Union and the Council of Europe.

Project Team

Ilina GAREVSKA, Senior Project Officer, and Mustafa FERATI, Head of Unit, Action against Crime Department, are overseeing the implementation of the project.

Funding

This article is produced using funds from a joint project between the European Union and the Council of Europe. The views expressed herein do not necessarily reflect the official opinion of the European Union.