Project against Economic Crime in Kosovo (PECK III)
Kosovo* has conducted a number of important rule of law reforms in recent years. Within the framework of the two phases of the EU/CoE Project against Economic Crime in Kosovo (PECK I and II), two assessments on “Compliance with international standards in the anti-corruption area” (CoE AC Assessment) and on “Compliance of Kosovo with intentional anti-money laundering and combatting the financing of terrorism standards” (CoE AML/CTF Assessment) were conducted pursuant to CoE evaluation methodologies. The findings of these assessments have supported some notable improvements and have provided local authorities with a blueprint of steps to be taken to ensure conformity with relevant international benchmarks. Furthermore, several capacity building inputs were provided by previous rounds of PECK in concrete areas, including strategic analysis and risk assessments in the AML, anti-corruption and anti-money laundering criminal procedures and case management, as well as international networking activities.
Challenges however remain. Kosovo needs to further adjust its anti-corruption and AML/CFT regulatory framework in select areas and, more pressingly, needs to boost effective application of anti-corruption and particularly AML/CFT efforts. To support Kosovo in these endeavours, the Agreement on the “Project against Economic Crime (PECK) Phase III” was signed between the Council of Europe and EU Office in Pristina. PECK III started on 30 June 2020, with a duration of 36 months and a budget of 2,460,400 Euro (EU funds: 90% and CoE funds: 10%).
PECK III seeks to enhance anti-corruption and AML/CFT practices in Kosovo, in line with applicable European and international standards and good comparative practices. For the purpose of achieving the above objective, the project will ensure, through its activities that:
Practitioners in Kosovo have developed effective and sustainable capacities for preventing and supressing corruption, money laundering and terrorist financing;
Kosovo authorities effectively implement asset recovery legislation; and
Economic crime case processing by Kosovo authorities is improved.
The main counterparts of the PECK III Project are: Kosovo Anti-Corruption Agency; Financial Intelligence Unit, State Prosecution, Agency for Managing Sequestrated and Confiscated assets, and Kosovo Police.
Beneficial ownership regulation and its alignment with international standards
Pristina, Kosovo*25 May 2021
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An online meeting of the Working Group on the Administrative Instruction on Beneficial Ownership took place on 25 May 2021 within the framework of PECK III project to present the outcome of the review carried out by the Council of Europe of the draft Instruction regulating beneficial ownership.
The participants discussed the comments and recommendations of the review including the cascading implications of the existing definitions of beneficial owner and legal person, the need to accurately distinguish between legal entities and legal arrangements and addressing the beneficial ownership by the NPO sector. As a result of the discussion and provided comments additional consultations will be carried out before the finalised Instruction is submitted for Government adoption.
PECK III project will further support the authorities in regulating and enhancing capacities on transparency of beneficial ownership and its regulation in line with international standards and good practices.