Financial Crime World

Project Overview: Enhancing Anti-Money Laundering Efforts in Albania

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Introduction

A comprehensive project aimed at tackling money laundering and financial crime in Albania has been initiated. The collaboration between the General Prosecutor’s Office (GPO), the Ministry of Finance (MoF), the Albanian State Police (ASP), and other agencies seeks to enhance operational results and integration among institutions involved in financial investigation.

Project Objectives

Cross-Cutting Activities

  • Facilitate information flow, collaboration, and coordination between agencies through advice, mentoring, and establishment of formalized and informal collaborative groups.
  • Enhance the effectiveness of information sharing, analysis, and dissemination.

Activity 1: Financial Intelligence Unit (FIU)

  • Strategic Development:
    • Advise on effective measurement and identification of money laundering.
    • Implement the National Strategy and Action Plan on Financial Crimes.
    • Enhance analytical capability through training on financial intelligence gathering, analysis, and dissemination.
    • Ensure effective use of IT systems and improve quality and number of intelligence packages submitted.

Activity 2: Albanian State Police (ASP)

  • Financial Crime Investigative Skills:
    • Develop skills in asset tracing and investigation of financial crimes.
    • Implement the National Strategy and Action Plan on Financial Crimes.
    • Provide strategic advice and mentoring to head of unit and investigators.

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

  • Capacity Development:
    • Advise on developing a multi-annual management plan.
    • Implement the National Strategy and Action Plan on Financial Crimes.
    • Review existing legal and administrative framework to propose necessary adjustments.

Project Implementation

The project will be implemented through assistance from long-term advisers and experts who will work within key institutions to ensure continuity and consistency of approach with ongoing EU-funded projects.

Beneficiaries

  • Financial Intelligence Unit (FIU): To enhance its strategic development and analytical capability.
  • Albanian State Police (ASP): To develop financial crime investigative skills and implement the National Strategy and Action Plan on Financial Crimes.
  • Agency for Administration of Sequestered Assets (AASCA): To develop capacity and implement the National Strategy and Action Plan on Financial Crimes.

Conclusion

The project aims to bring institutions closer together, enhance operational results, and increase integration among agencies involved in financial investigation. By addressing money laundering and financial crime in Albania, this initiative contributes to a safer and more secure environment for citizens and businesses alike.