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The President of the country, Ilir Meta has decreed the law for the prevention of money laundering and terrorist financing with some changes.
The Head of State has argued that these changes protect the financial system and the economy as a whole from money laundering threats by strengthening the integrity of the prevention system in the country.
Announcement of the Institution of the President of the Republic:
December 17, 2021
The President of the Republic, Sh.TZ Ilir Meta, has decreed with announcement:
Law no. 120/2021 “On some changes and additions to law no. 9917, dated 19.5.2008, “On the prevention of money laundering and terrorist financing”, as amended.
The amendments to this law aim to protect the financial system and the economy as a whole from the threats of money laundering and terrorist financing, while strengthening the integrity of the prevention system in the country and increasing coordination and cooperation to contribute to peace, security and fulfillment. international obligations.
The law aims to increase guarantees and mechanisms for law enforcement agencies to effectively function in preventing, detecting and cracking down on money laundering and terrorist financing threats.
Even more important is the effort to reflect the recommendations of the FATF (Financial Action Task Force – FATF) and Monyeval.
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