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Albania: Moneyval, progress on assistance in confiscation

The country also improved anti-money laundering measures

08 June, 13:30
(ANSA) - STRASBOURG, 08 GIU - Albania has made progress on the assistance it can offer other countries in freezing and confiscating assets linked to money laundering and terrorist financing crimes. The news appeared in the latest report published by Moneyval, the Council of Europe body that assesses states' anti-money laundering and anti-terrorist financing measures. Moneyval determined that Albania has gone from partially compliant to compliant in mutual legal assistance in one year. Strasbourg also underlined that the country has also made progress on measures to prevent the use of legal entities for money laundering and terrorist financing and on the regulation and supervision of financial institutions. In both cases, Albania's rating went from "partially compliant" to "largely compliant." So far, Tirana has achieved compliance with seven recommendations received in July 2018, is "largely compliant" with 29 others, and remains "partially compliant" with four others. Strasbourg has therefore decided to keep the country under "enhanced monitoring" and requested a new report on measures that the government will have taken within two years. (ANSA).

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