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The risk of money laundering increases in Albania.
About 1600 cases of suspicious activity have been reported by institutions at the Directorate for the Prevention of Money Laundering last year, almost 200 more cases than in 2020.
Reports from the banking system top the list with more cases, but what is noticed is an increase in them by notaries, Cadastre and microcredit institutions.
50 suspected cases of money laundering have been reported to the Prosecutor’s Office, over half of them to the Special Prosecutor’s Office, 208 to the Police, while 24 cases have been referred to the Taxes on suspicion of tax evasion and concealment of income.
For most of the cases sent to the judiciary, the origin of the crime is not known, while the rest is dominated by crimes in the field of narcotics, which increased in the previous year.
Worrying are the figures for financial and computer fraud with 21 such as those of investments by criminal groups and an increase in cases is also found for abuse of office and corruption.
But what are the most commonly used schemes by individuals and entities for money laundering?
One of the typologies is related to large investments in properties and real estate with funds from which their source is not known, the inclusion of persons with criminal records in construction companies or the purchase of properties below market price and their revaluation within a short time.
Another practice used is the involvement of third parties in the field of construction, the use of loans as a means to cover the real source of funds or the exchange of properties below the real market price, thus making the sector one of the most risky in money laundering.
Others use dubious transfers involving businesses or foreign nationals without supporting documents to make criminal offenses, make donations, or lend to third parties that do not justify the transactions.
Investing in luxury goods like expensive cars or other goods that do not justify the legal source of funds is another method that people use to formalize their dirty money.
Part of the most used schemes are also suspicious transfers with countries considered at risk or transactions by freelancers for benefits suspected of being illegal.
Efforts to draft anti-money laundering laws are numerous, but the rise of suspicious cases shows that they are insufficient even to remove the country from the so-called gray list of money laundering to which it returned in 2020.
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