meta_id 3366479

On July 30, 2026, Albania's Council of Ministers approved a draft law on the prevention of money laundering and terrorism financing, proposed by the Ministry of Finance. The legal amendments align Albania's framework with recommendations from the Financial Action Task Force (FATF) and MONEYVAL, while implementing requirements from the European Union's sixth package and the EU Directive 2024/1640. The amendments aim to enhance beneficial ownership transparency and improve the quality of information reporting for financial and criminal investigations. The changes also strengthen mechanisms for implementing restrictive measures, including freezing and blocking of funds in accordance with international standards. Additionally, the reforms increase the effectiveness of inter-institutional and international cooperation through standardised reporting mechanisms, information exchange, and risk management procedures. Albania becomes the first Western Balkan country to undertake such a comprehensive alignment process with the new European framework in this area. The amendments strengthen the country's financial system, increase transparency, and protect Albania's economy from money laundering and terrorism financing risks. For EU member states, the legislative package enters into force in July 2027. Albania will implement the changes on January 1, 2028, providing time for domestic institutions to prepare for compliance with the new requirements. **Reference:** Ministry of Finance Albania Newsroom: https://financa.gov.al/en/newsroom/miratohen-ndryshimet-ligjore-per-forcimin-e-sistemit-te-parandalimit-te-pastrimit-te-parave-perafrim-i-kuadrit-ligjor-me-be/