On 18-19 September, the Council of Europe Action against Economic Crime in Albania (AEC-AL) organized a seminar on “Enhancing the capacities and awareness of supervisors on risk-based approach to supervision” with the view to assisting Albanian Supervisory authorities to strengthen the supervisory system by providing tools to take action against financial crime.

About 30 representatives from the General Directorate for the Prevention of Money Laundering (GDPML), Albanian Financial Supervisory Authority, Ministry of Justice, Second level banks and Council of Europe experts exchanged on topics pertaining to the allocation of AML/CFT supervisory resources based on the risk assessment, the review of the current models based on RBA approach to supervision, effective supervisory practices used by the Central Bank of Albania and good  European best practices regarding the supervision of Designated Non-Financial Business or Profession (DNFBPs). 

The experts presented the recommendations on the development and strengthening of the guidelines to RBA approach to supervision aligned with the ML/FT risks identified in the NRA.

The Action against Economic Crime in Albania is implemented within the frame of the joint EU-CoE Horizontal Facility for SEE and Turkey.