Regulatory Alerts2009-06-10 | 44/2009Regulation 44/2009 on Prevention of Money Laundering and Terrorism Financing
The Bank of Albania’s Supervisory Council issued Regulation 44/2009 to mandate licensed financial entities under its supervision to implement comprehensive anti-money laundering and counter-terrorism financing measures. The regulation requires these subjects to apply simplified, standard, and enhanced due diligence protocols, maintain rigorous customer identification and record-keeping systems, and report suspicious or high-value transactions to the responsible authority within specified timeframes. Furthermore, it establishes internal governance structures with designated responsible persons, continuous risk monitoring, annual training programs, and strict reporting obligations to ensure consistent compliance across the Albanian financial sector.