Central Bank of the Republic of Kosovo links PECK III project to EU-aligned AML CFT rules and risk-based supervisory reforms

The Central Bank of the Republic of Kosovo published Governor Ahmet Ismaili’s remarks at the closing conference of the Council of Europe’s Project Against Economic Crime (PECK III), outlining how the project’s outputs have modernised the central bank’s supervisory approach and further aligned Kosovo’s regulatory framework with European standards, particularly for anti-money laundering and countering the financing of terrorism (AML/CFT). The supervisory philosophy has shifted from a formal compliance model to a risk-based approach, supported by an updated risk assessment framework, the integration of new supervisory technologies and a comprehensive risk-based supervision manual that also covers the virtual assets sector. Regulatory deliverables highlighted include the adoption of a new AML/CFT regulation aligned with European Union and Financial Action Task Force standards and the alignment of rules on information accompanying transfers of funds with EU requirements to increase the traceability and transparency of transfers involving virtual assets. The update also points to intensified inter-institutional cooperation to strengthen implementation of the travel rule and financial market integrity. The central bank positioned these changes as groundwork for a forthcoming MONEYVAL assessment and indicated that reforms and partner cooperation will continue in subsequent phases.