Albania, a country with a low risk for money laundering - The Basel Report rates it better than Germany and many other EU countries
Albania has been assessed as a country with a low risk of money laundering and terrorist financing. The most recent report of the Basel Institute shows that Albania has made significant progress in terms of these two indicators.
In this index, Albania has been evaluated with a total score of 4.35, ranking 36th in the world ranking (if the ranking starts from the country with the lowest risk), much better than many of the European Union countries such as Germany, Italy, Holland, Hungary, Croatia, Bulgaria, Romania as well as other countries such as USA, Canada, Japan and many other jurisdictions.
The progress achieved is tangible, as a result of the measures taken by our country, especially within the framework of fulfilling the recommendations of FATF and Moneyval, which occupy the main weight in this assessment with 65%.
Our country has made further improvements in improving the legal and regulatory framework with the engagement of international experts) that have not yet been evaluated by Moneyval experts, which would further improve the ranking.
The Basel Index is based on a composite methodology, with 18 indicators categorized into five areas in accordance with the five main factors considered to contribute to a high ML/TF risk, which are the quality of the ML/TF legal framework, bribery and corruption, transparency and financial standards, transparency and public accountability, legal and political risks.
We recall that during the past year, Albania came out of the money laundering gray list of the Financial Action Task Force, otherwise known as FATF, which is an international structure in terms of monitoring the fight to prevent money laundering as well as the financing of terrorism.
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