Representatives of the beneficiary institutions of the joint European Union/Council of Europe Action Against Economic Crime in Albania, attended the 3rd Steering committee meeting to discuss the progress and impact of the Action in addressing the key GRECO and Moneyval recommendations to the country.

They noted the valuable contribution concerning the legislative assistance on electoral financial legislation, strengthening supervisions of the notary service and changes to the law on mutual legal assistance. They are expected to add more clarity and effectiveness in the implementation of related legislation by Albanian institutions.

The Head of the Albanian Finance Intelligence Unit emphasized the role played in the revision of the anti-money laundering and the financing of terrorism, sectorial analysis of risks, outreach activities and guidance for supervisory institutions and obliged entities on international sanctions framework and practices to prevent the financing of terrorism and proliferation financing. As an immediate result of these activities, Albania has successfully implemented two measures from the Action Plan agreed with the Financial Action Task Force in the frame of the International Cooperation Review Group process.

Participants also highlighted the flexible approach adopted by the Action in accommodating their needs. Action Against Economic Crime in Albania is part of the EU/CoE Horizontal Facility for the Western Balkans and Turkey (Horizontal Facility II).