Financial Intelligence Agency

Meeting of the Anti-Money Laundering Coordinating Committee

On 24.07.2024 it was held the meeting of the Anti-Money Laundering Coordination Committee (AMLCC), which functions as a policy-making mechanism for the prevention of money laundering and terrorist financing (PPP/ FT). Attendees of the meeting comprised the permanent members of the AMLCC, as well as the General Directors of both the General Directorate of Taxes and Customs. The aim of this meeting was devoted to the presentation for approval of the document of the “National Strategy for the Prevention of Money Laundering and Financing of Terrorism 2024-2030″ and its Action Plan.

During the presentation, the comprehensive process of drafting this strategy and its consultation process was reflected, where it was emphasized that a special attention has been given to close cooperation with the private sector, who are fully engaged in its drafting as members of Technical Inter-institutional Work Group (GTNP) and in the consultation process, directly influencing the strengthening of this public-private partnership. The strategy defines the following objectives, which will be fulfilled through detailed measures in the action plan that accompanies this strategy.

During the presentation it was highlighted the thorough process involved in formulating this strategy, particularly the consultation phase. It was underscored that significant emphasis was placed on fostering collaboration with the private sector, which actively participated as members of the Technical Inter-institutional Work Group (TIWG). Their involvement in the consultation process has played a crucial role in enhancing this public-private partnership.

The strategy outlines specific objectives that will be achieved through a detailed action plan accompanying it.

  • Objective no. 1: Improving the regulatory framework and strengthening inter-institutional coordination;
  • Objective no. 2: Further increasing the effectiveness of the preventive system;
  • Objective no. 3: Improving the operational efficiency of law enforcement bodies and other agencies in the fight against ML/TF;
  • Objective no. 4: Use and exploitation of technological innovations by minimizing risks;
  • Objective no. 5: Increasing the effectiveness of the supervisory system;
  • Objective no. 6: Strengthening international cooperation.

The strategy document emphasizes the need for the commitment of all institutions to respond to the requirements of the European Union and the Moneyval Committee of the Council of Europe, so that the country can continue the progress so far, of positive evaluations by international organizations.

The strategy was unanimously approved by all members. The adoption of this strategy is accompanied by the achievement of concrete results for Albania within the framework of the implementation of the reform agenda, part of the growth plan of the European Union for the Western Balkans.

In this meeting, the General Director of the Financial Intelligence Agency (FIA) also reported on the implementation of the TIWG tasks for 2024, as well as the work of the respective subgroups:

  • Subgroup I “For virtual assets”;
  • Subgroup II “On the collection and quality of information for criminal investigations related to ML/FT”;
  • Subgroup III “On the risk analysis related to the categories of NGOs that are more vulnerable to misuse or abuse for terrorist financing”;

where it is worth emphasizing the active participation in TIWG meetings of representatives of the private sector, whose contribution constitutes an added value in the process of drafting the strategy and consolidating the structure of GTNP.

The General Director of FIA shared insights regarding the preparatory work executed by TIWG, under FIA’s leadership, for the Moneyval Committee’s assessment of Albania in the 6th round set for 2025-2026. This undertaking involves the preparation of preliminary contributions on effectiveness, coordinated by international experts, and is supported by the European Union Delegation in Tirana, the Council of Europe, German Cooperation (GIZ), the British Embassy, and the US Embassy. It was also reported that from October to January 2025, experts will conduct simulation exercises with Albanian institutions across all effectiveness sectors.