On 22 and 23 March 2024, the joint European Union and Council of Europe project against Economic Crime (PECK III) in cooperation with the Financial Intelligence Unit organised two consecutive seminars aimed to raise awareness on the implementation of targeted financial sanctions (TFS).

Representatives of 10 leasing companies and money transfers and 32 notaries familiarised themselves with international standards namely United Nations Security Council resolutions 1267 and 1373, and features of Recommendations 6 and 7 of the Financial Action Task Force.

Participants benefitted from presentations and discussions with the Council of Europe experts on the main elements of a robust TFS regime including institutional arrangements for identifying and designating persons or entities, due process for review, de-listing and unfreezing and freezing and prohibiting funds or other assets of designated persons or entities.

Moreover, through group work and cases studies, participants had the chance to practically learn about their role in implementing TFS and received guidance on actions to be taken in respect to existing national mechanism, freezing of funds and economic resources, reporting, listing and delisting procedures. 

The seminars are organised following the adoption of the Law on International Targeted Financial Sanctions and three subsequent sublegal acts prepared with the substantive support provided within the framework of PECK III.

The activity was organised within the framework of the “Project against Economic Crime in Kosovo” (PECK III), jointly funded by the European Union and the Council of Europe and implemented by the latter.