Albania, again on the gray list for money laundering, FATF gives the alarm: Problem Fiscal Amnesty, must be reviewed, or abandoned as a Government project

Even the year 2023 found Albania again on the FATF and MONEYVAL gray list for money laundering. In the decision-making after the plenary meeting held on February 22-24, the Financial Action Task Force, known as FATF, has concluded that our country has fulfilled its legal obligations, as well as increased the cases of money laundering proceedings, but it is the Fiscal Amnesty which is a strong concern for the future. For this reason, Albania is again on the Gray List of jurisdictions with a high risk for money laundering, which includes countries such as Burkina Faso, the Cayman Islands, Congo, Gibraltar, Haiti, Jamaica, Mozambique, Nigeria, Panama, the Philippines, Senegal, Syria, Tanzania, Uganda, Yemen or Turkey. As of February 2020, the Task Force points out in the summary report, when Albania made a high-level political commitment to work with FATF and MONEYVAL to strengthen the regime and effectiveness against the risk of money laundering, the country has taken steps towards improving this regime, including demonstrating a significant increase in the number of cases processed for money laundering, especially those stemming from crimes committed abroad, and the money was laundered in Albania. However, the Task Force has not yet scheduled a visit to the country to verify the implementation of Albania's reforms in the framework of the fight against money laundering. This, the document emphasizes, as the FATF has concerns over Albania's plans to implement a self-declaration of income program. which does not comply with the principles of the Task Force on Money Laundering Risk Management or best practices in this area. Albania, FATF further emphasizes, must ensure that any amnesty included in the law on self-declaration of income does not create opportunities for individuals or entities to legalize or repatriate assets of illegal origin. "Albania should review the Amnesty draft and work with Moneyval to ensure that any law on self-declaration of income has adequate safeguards to prevent any potential abuse of this program to use it for money laundering. The other alternative is for it to consider abandoning this program entirely," the document states. must ensure that any amnesty included in the law on self-declaration of income does not create opportunities for individuals or entities to legalize or repatriate assets of illegal origin. "Albania should review the Amnesty draft and work with Moneyval to ensure that any law on self-declaration of income has adequate safeguards to prevent any potential abuse of this program to use it for money laundering. The other alternative is for it to consider abandoning this program entirely," the document states. must ensure that any amnesty included in the law on self-declaration of income does not create opportunities for individuals or entities to legalize or repatriate assets of illegal origin. "Albania should review the Amnesty draft and work with Moneyval to ensure that any law on self-declaration of income has adequate safeguards to prevent any potential abuse of this program to use it for money laundering. The other alternative is for it to consider abandoning this program entirely," the document states. "Albania should review the Amnesty draft and work with Moneyval to ensure that any law on self-declaration of income has adequate safeguards to prevent any potential abuse of this program to use it for money laundering. The other alternative is for it to consider abandoning this program entirely," the document states. "Albania should review the Amnesty draft and work with Moneyval to ensure that any law on self-declaration of income has adequate safeguards to prevent any potential abuse of this program to use it for money laundering. The other alternative is for it to consider abandoning this program entirely," the document states.