The Council of Europe through its joint European Union and Council of Europe Project against Economic Crime in Kosovo (PECK III) is supporting Kosovo authorities to address identified shortcomings and needs related to anti-money laundering/countering the financing of terrorism (AML/CFT) risk-based supervision. 

In this context and following several peer-to-peer mentoring activities conducted by PECK III, it presented lessons learned and discussed the developed supervisory tools with participants from the Financial Intelligence Unit and Central Bank of Kosovo. 

The aim of the mentoring programme was to provide hands-on guidance and expert advice on ongoing operational processes related to off-site and on-site AML/CFT supervision of obliged entities. 

Participants from the Financial Intelligence Unit and Central Bank acknowledged the positive impact that the peer-to-peer exchange is having in improving the supervisory practices in Kosovo by further strengthening the risk-based approach in line with international standards and good practices. Participants also highlighted that a risk-based approach will be integrated in all aspects of a supervisory program design. 

This initiative builds upon joint EU/Council of Europe and beneficiaries’ efforts in identifying challenges faced and improvement needs with regard to fighting corruption, money laundering and financing of terrorism in Kosovo by also taking into account the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Assessment of 2018.

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.