Parliament considers law against money laundering

The Albanian parliament will consider a new piece of draft legislation entitled “On money laundering” this month, with deputies voting in upcoming plenary session. The drafting process has involved specialists from the National Bank of Albania, based upon IMF instructions. The draft law will, according to the specialists, serve the competent structures in the fight against the illegal activity of money laundering, explaining the how the process operates, the most efficient ways to prevent it and who exactly will be covered by it. Among the provisions in the law will also be sanctioned the authority that will execute the law. The draft also explains the procedures of the functioning of the banks and its workers that carry out banking operations with the am of preventing the money laundering for illegal profits.