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Albania removed from money laundering, terrorist financing list

Xinhua, February 26, 2015 Adjust font size:

Albania is no longer part of the list of countries being monitored for money laundering and terrorism financing, the Albanian Ministry of Finance said in a press release on Wednesday.

The Albanian Ministry of Finance refers to the latest report by Onsite Team of the International Co-operation Review Group (ICRG).

The report notes that Albania has addressed all deficiencies identified over the past years by the Financial Action Task Force (FATF), which monitors implementation of the necessary measures to counter money laundering and terrorist financing in the world.

FATF members have praised Albania's efforts in this respect.

According to the report, Albania has addressed its action plan and implementation of the action plan is being strongly supported by the government, members of which have shown commitment towards developing an adequate legal and financial framework.

After this assessment, Albania will be no longer part of the group of the countries being constantly monitored for money laundering and terrorism financing.

The report was approved at the ICRG's regular meeting in Paris on Feb. 24-25 to present findings of a year-long evaluation. Endit