Albania is no longer monitored for money laundering

Albania is no longer monitored for money laundering

Tirana, 18 September 2015/Independent Balkan News Agency

Albanian Finance Ministry announced today that Albania is no longer part of the monitoring process for money laundering and funding of terrorism by the Council of Europe. According to this ministry, this was achieved thanks to the progress on a number of serious issues, meeting all the obligations which helped in achieving international standards.

Progress has been reached in the legislative aspect, institutional cooperation and strengthening of technical capacities, measures which have affected in the growth of efficiency of the preventing system in this domain.  The efforts of the Albanian government and institutions of the country have been backed and affirmed by international partners.

According to this ministry, the fact that Albania is no longer being monitored, is of a special importance, as it confirms the efficiency of the measures taken by Albanian authorities in the prevention of money laundering and this is a solid basis for further evaluation of our country by Moneyval Committee, which is expected to take place in 2017. /ibna/