Albania

New Documents

The Financial Services Commission of Montserrat issued a notice, highlighting changes to the jurisdiction’s Afghanistan sanctions regime.

The Council of Europe Group of States Against Corruption published its 5th Round Evaluation report on Albania’s anti-corruption regime involving top executive functions and law enforcement agencies.

News

Enforcement Actions

0 Items Found


Important Facts

  • The U.S. State Department identifies Albania as a major money laundering jurisdiction. Albania is not a regional financial or offshore center. However, the country remains at significant risk for money laundering due to corruption, growing organized crime networks and weak legal and government institutions. The country has a large cash economy and significant money flows from abroad in the form of remittances. Drug trafficking, tax evasion, arms trafficking, counterfeiting and smuggling are major illicit revenue-producing crimes in Albania. Real estate, business development projects and gaming are also popular methods for disguising illegal proceeds. Albanian organized crime organizations have links with European and South American networks.  Albania has know-your-customer and suspicious transaction reporting requirements.
-Source: 2020 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 5 High : 0
Largely Compliant : 28 Substantial : 2
Partially Compliant : 5 Moderate : 7
Non-Compliant : 1 Low : 2
Not-Applicable : 1

Albania's technical compliance was re-rated in a Jan. 22, 2020 follow-up report

BASEL i

Rank : 44/141
Score : 5.69/10

TRANSPARENCY INTERNATIONAL i

Rank : 106/180
Score : 35/100

Tax Justice Network i

Rank : N/A
Score : N/A