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SPAK exposes money laundering schemes in Albania: How gangs and corrupt officials camouflage 'dirty euros'!
2025-04-02 15:42:46 / AKTUALITET
SPAK published its annual report for 2024 today. Part of the report covers the money laundering scheme.
SPAK emphasizes that money laundering through fictitious transactions and secret investments is an essential element of this scheme.
According to SPAK, the use of "cash" to avoid financial traces and the reinvestment of funds in other economic activities indicates a high level of sophistication of this activity.
SPAK informs that from the investigation of criminal offenses within the framework of corruption, several typologies of money laundering have been identified as follows:
Money laundering through indirect transfer of public funds:
• In this typology, a public official uses his or her managerial position to favor a business entity, with the aim of benefiting from public funds of the institution he or she directs. After the illegal benefit, the proceeds are transferred from one private beneficiary entity to another private entity, which has indirect links to the public official. These funds are then invested in real estate.
Payment for fictitious works and investment in real estate:
• Commercial companies deliberately set up to illegally benefit from public funds are controlled by public officials. Public funds, through payment schemes for fictitious works, are then withdrawn from the banking system in the form of “cash”. Another part of the money is reinvested in the company’s commercial activities or in real estate, making it more difficult to identify the illegal origin of the money.
• Individuals involved in the corruption scheme use forged documents to register assets acquired illegally with the help of a public official. The assets are then transferred to the ownership of another beneficiary. The latter sells/disposes of them, thus hiding the direct link between the public official and the illicit gain and legalizing the proceeds of the crime.
Money laundering through contracts and investments:
• In these cases, political influence is used to draft laws and make decisions to favor certain commercial companies/private entities to benefit from public property and funds in violation of the law. These commercial companies have then made payments for the interests of public officials or have given them real estate at prices that are below market value. All of these actions are carried out to hide corrupt actions and launder the proceeds of criminal offenses through various transactions that hide their origin.
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