Article: UK puts Malta on high-risk list for money laundering, terrorist financing

Article - Media

UK puts Malta on high-risk list for money laundering, terrorist financing

Time of Malta, 22 July 2021

The UK has placed Malta among the list of high-risk countries for money laundering and terrorist financing.

In regulations that came into force on July 13, the UK removed Ghana from its previous list and added, Malta, Haiti, the Philippines and South Sudan.

The other countries currently on the list are: Albania, Barbados, Botswana, Burkina Faso, Cambodia, Cayman Islands, Democratic People’s Republic of Korea, Iran, Jamaica, Mauritius, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Senegal, Syria, Uganda, Yemen, and Zimbabwe. Continue reading “Article: UK puts Malta on high-risk list for money laundering, terrorist financing”

Article: A Ticking Time-Bomb: Tirana’s Property Market Bubble Fueled by Money-Laundering

Article - Media, Publications

A Ticking Time-Bomb: Tirana’s Property Market Bubble Fueled by Money-Laundering

Tirana Times, 25 May 2021

The average price of residential property in Tirana has more than doubled since 2017. In a recent study which compares price-to income ratio, the capital of Albania was put on par with Munich and Milan. But is it reasonable to view the pricing-out of most prospective homeowners from the market as a negative development? Not necessarily.

Soaring property prices in a specific market are linked to large accumulations of capital, which in a healthy economy come as the result of growth, and the attractiveness of that market to foreign and local investors. The frustration of prospective homebuyers and tenants in Tirana is shared amongst citizens of most European capitals. Continue reading “Article: A Ticking Time-Bomb: Tirana’s Property Market Bubble Fueled by Money-Laundering”

Article: Money Laundering Feeds Dangerous Housing Market Bubble in Albania

Article - Media, Publications

Money Laundering Feeds Dangerous Housing Market Bubble in Albania

Exit Staff , 20 May 2021

Between €300-700 million in dirty money enters Albania each year, according to an estimate by the Global Initiative Against Transnational Crime Initiative (GIATOC).

In Wednesday’s “In a Few Words” show on Euronews, Neritan Sejami focused on money laundering in the construction sector in Albania. Dirty money entering the country has three main sources: criminal activities, corruption and tax fraud. In the last 3 years, an estimated €1.6 billion was laundered through the construction sector in Albania. Continue reading “Article: Money Laundering Feeds Dangerous Housing Market Bubble in Albania”

Article: Fugitives arrested in I-CAN global anti-mafia operation

Article - Media, Publications

Article: Fugitives arrested in I-CAN global anti-mafia operation

LYON, France: Coordination through the INTERPOL Cooperation Against ‘Ndrangheta (I-CAN) project – an INTERPOL and Italian initiative – has seen law enforcement round up six fugitives in Albania, Argentina and Costa Rica following intelligence gained in an earlier operation targeting the ‘Ndrangheta in November 2019.

Last year’s “Operation Magma 2007” targeted individuals wanted for association with the ‘Ndrangheta, as well as drug trafficking and illegal weapons possession. Conducted by Italy’s Guardia di Finanza and Direzione Centrale Servizi Antidroga, and coordinated by the Direzione Distrettuale Antimafia in Reggio Calabria, the operation resulted in the arrest of 45 suspects across Italy.

Read Full Article