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Enhanced anti-money laundering and countering the financing of terrorism measures in Albania

Tirana 18 December 2019
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Enhanced anti-money laundering and countering the financing of terrorism measures in Albania

Two workshops dedicated to the effective implementation of Risk Based approach measures for the Non-financial Sector took place in Tirana on 16 and 17 December 2019. The workshops counted with the presence of accountants, lawyers, notaries, the General Directorate for the Prevention of Money Laundering, the National Chamber of Advocates, the National Chamber of Notaries and the Institute of Authorized Chartered Accountants to address the relevant international standards. A Council of Europe expert presented guidelines and a methodology on Risk-Based Approach for the Legal and Accounting Professions in the design and implementation of this approach. The participants shared best practices, challenges and practical information in the implementation of simplified/enhanced Customer Due Diligence (CDD) measures and screening with a risk-based approach. Additionally, the role of accountants, lawyers and notaries in the identification of the beneficial owner was discussed. Participants increased their awareness on the identification of the money laundering risks and terrorist financing risks associated with certain clients or categories of clients, and certain types of work. This will allow accountants and legal professionals to determine and implement reasonable and proportionate measures and controls to mitigate these risks.

The two workshops were organised within the European Union and Council of Europe’s Horizontal Facility Project “Action against Economic Crime in Albania”.

 

 

 

 


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