Kosovo

New Documents

EU Commission Evaluates Regulatory Reforms in Seven Applicant Countries

The European Commission adopted its 2022 Enlargement Package, which provides detailed country assessments into nation states that aspire to join the European Union.

October 12, 2022

OSCE Finds Shortcomings in Efforts by Kosovo to Prosecute TF

The Organization for Security and Co-operation in Europe published a report evaluating Kosovo’s efforts to combat terrorism.

September 21, 2022

European Commission: Kosovo Made Little Progress in Adopting Measures to Tackle Corruption, Organized Crime

October 19, 2021

Swiss Federal Council: DTA with Kosovo Enters Into Force

October 29, 2018

UN Publishes Report on PEPs in Kosovo

June 4, 2018

News

Weekly Roundup: OCC Fines Bank of China, Ronaldo Settles Tax Charges, and More

Malaysia considers money laundering charges against former head of state, Danish minister calls for tougher EU response to money laundering, and more, in this week’s roundup.

June 15, 2018

Midweek Roundup: U.K. Lawmakers Call for New Enforcement Agency, Judge Says Bitcoin Not Money, and More

Switzerland will soon give U.S. tax officials data on HSBC’s private banking operations in the country, British parliamentarians called for the FCA to be stripped of its authority to punish banks, and more, in the midweek roundup.

July 27, 2016

Enforcement Actions

0 Items Found

Key Documents

Kosovo Enacts New AML Law

September 30, 2010

Kosovo Releases Supplemental Law to AML/CTF Legislation

March 8, 2013

Kosovo Criminalizes Money Laundering, Terrorist Acts

June 22, 2012

Important Facts

  • The U.S. State Department labels Kosovo as a jurisdiction of concern. Kosovo is not considered a regional financial or offshore center. Kosovo is a transit point for illicit drugs, but proceeds of drug trafficking do not fund the black market of smuggled and pirated items. Illegal proceeds from domestic and foreign criminal activity are generated from official corruption, tax evasion, human trafficking, customs fraud, organized crime, contraband and other types of financial crime. Specifically, official corruption is believed to be a significant problem. Kosovo has a large informal economy. Most of the proceeds from smuggling activity are believed to be laundered directly into the economy in areas such as construction and real estate, retail and commercial entities, banks, financial services, casinos and trading companies.
  • KYC Covered Entities:  Banks; money exchangers and remitters; securities brokers and service providers, portfolio and fund managers; insurance companies; issuers of traveler’s checks, money orders, e-money, and payment cards; political parties; casinos; attorneys, accountants, notaries, and auditors; real estate agents; high-value goods dealers; nongovernmental organizations (NGOs); microfinance institutions; and construction companies
  • STR Covered Entities:  Banks; money exchangers and remitters; securities brokers and service providers, portfolio and fund managers; insurance companies; issuers of traveler’s checks, money orders, e-money, and payment cards; NGOs; political parties; casinos; attorneys, accountants, notaries, and auditors; real estate agents; and high-value goods dealers
  • Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: Yes
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 32 (Jan. 1 – Nov. 1, 2015); Convictions: 1 (Jan. 1 – Nov. 1, 2015)
Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical Effectiveness
Compliant : 1 High :
Largely Compliant : 3 Substantial :
Partially Compliant : 12 Moderate :
Non-Compliant : 13 Low :

BASEL i

Rank : 114/162
Score : 5.15/10

TRANSPARENCY INTERNATIONAL i

Rank : 104/179
Score : 36/100

Tax Justice Network i

Rank : N/A
Score : N/A