"3-8 years in prison for fraudulent and pyramid schemes" - The new Criminal Code also toughens penalties for counterfeiting coins
The new Criminal Code provides for sentences of 3 to 8 years in prison for fraudulent and pyramid loan schemes. According to this document issued for public consultation, organizing or inciting fraudulent activities through the sending of chain letters, in which a participant, after having invested money, creates expectations of winning only if he attracts other participants to this activity, is punishable by a fine or imprisonment of up to 3 years.
Meanwhile, harsher penalties are also foreseen for counterfeiting or distributing coins. According to the new Criminal Code, counterfeiting of national or foreign coins that have legal tender is punishable by imprisonment from 3 to 8 years. The punishment is more severe for persons who put counterfeit coins into circulation or who export and import them. The first case is punishable by imprisonment from 5-12 years, while in the case of export and import this punishment is increased by up to one third.
On the other hand, transporting or distributing coins to third parties knowing that they are counterfeit is punishable by imprisonment from 2 to 7 years. If these criminal offenses are committed by a person legally authorized to produce or store the currency, the punishment is imprisonment for up to one year more.
Forgery of debt securities, participation certificates, bonds, checks, bills of exchange, credit or debit cards, traveler's checks, shares or quotas in commercial companies, interests, dividends, other papers that the law recognizes as having monetary value or any other non-cash payment method, shall be punishable by imprisonment of 4-10 years. If this offense is committed by a public official who issues such a certificate, the imprisonment sentence shall be increased by up to one-half of it.
During the past year, 156 pieces of counterfeit national banknotes in circulation, as well as 50 pieces of metal coins, were seized. The ratio of counterfeit banknotes per 1 million banknotes in circulation continues to decrease significantly. The most counterfeited banknotes are 1000 Lekë and 2000 Lekë, followed by the 5000 Lekë denomination.
In 2024, there was an increase in the number of proceedings registered for the criminal offense of "Counterfeiting of currencies and securities" compared to 2023 from 25 to 37 or about 48% and an increase from 9 to 10 in the number of proceedings sent to court.
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