Skopje, 14 June 2023 (MIA) - Free functioning of the financial systems is the main benefit for the citizens from the recently adopted report within the fifth round of evaluation of North Macedonia's anti-money laundering and counter-terrorist financing (AML/CFT) system, prepared by the Council of Europe's Moneyval Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, which was presented in Skopje on Wednesday.  

Financial Intelligence Office director Blazho Trendafilov pointed out that the report gives an assessment of results achieved in te past six years in the area of anti-money laundering and counter-terrorist financing. 

He added that the report recommends the country to continue to implement international standards in combatting money laundering and terrorist financing, and thus take up and maintain the score of the highest quality system in the region.  

"One of the main benefits for the citizens from the report will be the correspondence relations of all financial institutions, obtaining favorable conditions for loans of international importance that are significant for the country, made possible by swift Euro-Atlantic integration," said Trendafilov.  

Finance Minister Fatmir Besimi said that Moneyval's report, which was adopted at the 65th Plenary Meeting of the Committee held on May 24, 2023, notes the positive findings and progress made by the country in terms of regulations and rules to prevent money laundering and terrorist financing.

"The Financial Intelligence Office will have full support from the Ministry of Finance, as well as from the entire Government and all state authorities for the implementation of all necessary activities to successfully prevent money laundering and financing of terrorism and all other related activities that negatively affect our society," Besimi said. 

He pointed out that being a member of the Moneyval Committee also means an obligation to keep pace with changes in the international legislation related to the prevention of money laundering and financing of terrorism and their implementation in the domestic legislation.

Besimi noted that the country's legislation is being continuously upgraded and the system for preventing money laundering and terrorist financing is being developed through the implementation of international standards and undertaking numerous initiatives towards faster and efficient implementation as a strategic goal.

The evaluation of the anti-money laundering and counter-terrorist financing system is implemented in 47 member states of Moneyval. The Moneyval Committee's task is to assess the alignment of members with international standards in combatting money laundering and terrorist financing and the efficiency of their implementation, as well as to give recommendations to national authorities regarding necessary improvements to their systems. The country has been a member of the Committee since 1998.  

Photo: MIA