Financial Intelligence Agency

The meeting of Coordinating Committee of the Fight Against Money Laundering

The Coordinating Committee of the Fight Against Money Laundering (CCFAML), a collegial structure responsible for determining the directions of the general state policy in the field of the prevention and the fight against money laundering (PP) and the financing of terrorism (FT) held its meeting on 27.12.2023, chaired by the Deputy Prime Minister Belinda Balluku.

The Committee, after being informed in detail by the General Director of the Financial Intelligence Agency, noted the contribution of the institutions committed to the essential progress in meeting international standards, such as the country’s exit from FATF’s “grey list”, the increase in the fulfillment of Moneyval’s recommendations as well as relevant EU directives, bringing the country to a higher level of high compliance.

The committee considered a number of inter-institutional priority issues, which are related to:

  • Addressing the need for increased cooperation, coordination and interaction between institutions, in order to increase the effectiveness against money laundering, seizure and confiscation of criminal assets;
  • Continuation of engagement aimed at further compliance with FATF and EU international recommendations;
  • Risks at the country level identified by the strategic document of the national risk assessment for ML/TF;
  • The need to increase public-private cooperation in order to prevent ML/TF, through engagement in periodic meetings and the preparation of common typologies;
  • The need for drafting a national strategy for preventing and combating ML/TF.

Upon discussions and reaching full understanding, CCFAML approved a number of important documents, such as:

  • The National Risk Assessment of Money Laundering and Terrorism Financing in Albania and the Action Plan of this assessment.
  • The start of work on the drafting of the national strategy “For the prevention of money laundering and the terrorism financing” and its action plan;
  • The Technical Inter-Institutional Working Group is tasked with monitoring the implementation of general state policies, strategic objectives and action plans, and serves as a special structure in order to increase the effectiveness of the fight against money laundering and terrorism financing.