Moneyval – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Wed, 21 Jun 2023 20:16:00 +0000 en-US hourly 1 Albania has delivered on 37 out of 40 Moneyval recommendations https://en.ata.gov.al/2023/06/21/albania-has-delivered-on-37-out-of-40-moneyval-recommendations/ https://en.ata.gov.al/2023/06/21/albania-has-delivered-on-37-out-of-40-moneyval-recommendations/#respond Wed, 21 Jun 2023 20:16:00 +0000 http://en.ata.gov.al/?p=208911 TIRANA, June 21 /ATA/ – Albania has either fully or partially delivered on 37 out of 40 recommendations by Moneyval, the permanent monitoring body of the Council of Europe entrusted with the task of assessing compliance with the principal international standards to counter money laundering, organized crime and the financing of terrorism.

Director of Analysis, at the Directorate of Prevention and Money Laundering, Artan Shiqerukaj explained the reasons why Albania was put on the FATF grey list, saying that justice system decisions are the main reason, as tougher sentences are expected from justice on individuals involved in money laundering, and significant increase in confiscation of the crime assets.

According to him, Albania has been now landed on the list of countries being monitored under a certain action plan by the FATF’s International Co-operation Review Group (ICRG).

He acknowledge that putting Albania on the FATF grey list was distressing for the country, but the decision has also motivated the law enforcement agencies, prosecutors and courts to be more responsible.

“We need to address 40 Moneyval recommendations and we have fully or partially delivered on 37 of them. Work is underway to fulfil two more recommendations,” he said.

Albania was placed on the grey list in 2020. The country had been removed from the list earlier in 2015.

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