Financial Intelligence Agency

Training with banking entities

On 19  June 2024, the Financial Intelligence Agency (FIA) organized in cooperation with the Albanian Banker’s Association an outreach activity on prevention of money laundering and financing of terrorism (AML/CFT), for the representatives of the compliance units of commercial banks operating in Albania.

The main themes of this activity consisted of the National ML/TF Risk Assessment, the implementation of international sanctions related to terrorism financing, the preparation for the 6th round of Albania’s assessment by the Moneyval Committee of the Council of Europe, typologies  involving complex transactions regarding money laundering,  AML/CFT risks at international level related to new payment methods and online gambling, changes in AML/CFT legislation, FIA’s  supervisory expectations, individual AML/CFT risk assessment by the reporting entities, aspects for improving the reporting to FIA as well as the role of internal audit in the implementation of legal obligations.

FIA responded to a series of concrete questions of the participants regarding the practical implementation of the continuous control of the lists of persons designated for terrorism financing, ML/FT risk assessment, the operation of the transaction monitoring  system for collection and analysis of data and transactions, implementation of appropriate due diligence measures, reporting to FIA of currency transactions as well as  suspicious activity for money laundering or terrorist financing.

FIA will continue the active approach in engagement with the Association of Banks and other subjects of the law to increase the preventive capacities as well as further strengthening the integrity of the economic and financial system in the Republic of Albania.