EU supports fight against money laundering

TIRANA, June 26 – A 24 month-long project funded by the European Union with 1.5 million Euros in support of Albania’s fight against money laundering was launched. The Spanish Institute of Fiscal Studies and the Bulgarian Financial Intelligence Department will assist Albanian authorities in improving enforcement of the Anti-Mafia Law and other related laws, by offering the expertise of Member States in detection, investigation and prosecution of money laundering, in the confiscation and administration of assets of crime, and in effective coordination between law enforcement agencies. The Spanish and Bulgarian partners that will implement this project will also seek to assist the Albanian authorities in overcoming the challenges of investigation and prosecution of cases by 1) improving the working procedures and investigative techniques of Albanian prosecutors and Albanian police for the detection, investigation and prosecution of money laundering; 2) enhancing the capacity of the Albanian Financial Intelligence Unit to analyze the information coming from the Suspicious Transactions Reports; 3) supporting the Agency for the Administration of Seized and Confiscated Assets (AASCA) to develop procedures for the administration and the auctioning of seized and confiscated assets; 4) establishing standard operating procedures for the exchange of information and cooperation between the High Inspectorate for the Declaration and Audit of Assets, institutions of the judiciary, tax and customs agencies, the Bank of Albania and second level banks; and 5) by strengthening cooperation with international and regional actors, such as Interpol and Europol. “The commitment of several agencies is required, especially of the General Prosecutor’s Office, the Albanian State Police and the Financial Intelligence Unit. It is their responsibility to benefit from the trainings and the expertise, to ensure stability of staff and thus allow the trained staff to generate results in the fight against organized crime. It is their responsibility to coordinate and cooperate to generate those results,” said Head of the EU Delegation to Albania, Ambassador Ettore Sequi. A 1.35 million Euro EU-funded project to enhance the capacities of Albania’s central administration to manage EU funds on its own was also launched. Decentralized management of EU funds will make Albanian authorities responsible for programming, procurement, signing contracts, making payments, and for financial controls over money that is dedicated to Albania’s development. The project specifically targets the capacities of Albanian authorities to manage funding under the Instrument for Pre-Accession Assistance (IPA), which has amounted to 275 million Euros for the 2007-2010 period. Preparing for decentralized management of IPA funds helps Albania prepare itself for future EU membership, as well as future management of the Structural and Cohesion Funds that Member States receive to better integrate their poorer regions and infrastructure to EU standards. Efficient and transparent management of IPA funds requires a well-trained and professional administration to be in place as well as a clear and appropriate legal framework. Luigi Brusa of the European Union Delegation to Albania emphasized that Albania will be able to profit from and ultimately manage funds under all 5 IPA components only after it gains candidate status, for which much work is still needed.