chevron-down Created with Sketch Beta.

FATF Compliance in Eastern Europe

During the original program’s performance period from September 2020 to September 2023, ABA ROLI facilitated the development of country-specific action plans and implementation efforts in Albania and Serbia to advance national adherence to meet Financial Action Task Force (FATF) recommendations. Program-organized training sessions focused on topics associated with efforts to combat, mitigate, and protect against money laundering in Serbia and Albania. In Serbia, ABA ROLI’s subcontractor, K2 Integrity delivered   trainings for NPOs and NPO supervisors on money laundering risks facing the sector and how NPOs can deploy required preventive measures to protect themselves against abuse by criminals seeking to launder the proceeds of crime. Training materials incorporated Serbia’s current and forthcoming National Risk Assessment and global best practices for NPO protection.

In Albania, a multi-stakeholder civic-private forum was organized in November 2022 to bring together civil society, the private sector, and government representatives to share perspectives, updates, and challenges in the sector while also learning from subject matter experts. To build a sustainable Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) supervisory capacity within the Ministry of Justice, ABA ROLI’s subcontractor K2 Integrity developed and delivered an advanced training course for MOJ staff who serve as supervisors of real estate agents.

In September 2023, the FATF program earned a cost extension, which allowed the program to continue through September 2024. With this extension, ABA ROLI expanded its programming in North Macedonia and Montenegro, while continuing its work in Albania. ABA ROLI continues its cooperation with the Institute for Democracy and Mediation (IDM) in Albania.

During the cost extension, ABA ROLI will organize three regional Peer-to-Peer Networking workshops to provide the platform for target jurisdictions to learn from each other, strengthen regional cooperation, and address deficiencies and gaps identified by AML/CFT Mutual Evaluations conducted by FATF-style regional bodies. This would allow these jurisdictions to build on and share previous investments in AML/CFT capacity building with neighboring countries, thus strengthening regional resilience against illicit financial flows. 

The workshops will cover the following topics: Risk-Based Supervision of the Real Estate Sector to Prevent ML/TF; Promoting Beneficial Ownership Transparency to Fight Money Laundering and Emerging Money Laundering and Terrorism Finance Typologies, Indicators, and Investigation Techniques.

Through these workshops, ABA ROLI seeks to promote peer-to-peer skill and knowledge transfer and network development on successfully implementing the FATF compliance reforms.