Prishtina, December 15, 2021- Today, at the American Chamber of Commerce in Kosovo, the forum on ‘Prevention of Money Laundering on the Economy and their impact, a forum which aroused great interest from businesses, was held.
Labinot Preniqi, former Head of the PPP / FT Division at the CBK and former Deputy Director of the FIU-K mentioned the risks of money laundering and the ‘preservation’ of the involvement of businesses in these phenomena.
According to him, the discussion and topic on money laundering on the economy still remains as a new field for businesses while adding that the vast majority of businesses are not aware in regards to this topic and challenges as well. Furthermore, he stated that this topic encompasses many operations and challenges that occur on an ongoing basis.
‘The legal regulatory aspect has evolved over time and businesses should be protected from illegal funds for reasons of profit or even business reputation’, said Preniqi. He also emphasized that the placement of money laundering phase is considered to be the riskiest phase for businesses.
Behar Xhema, Acting Director of the FIU-K and Deputy Director of the FIU-K mentioned as a very significant point the reduction of the usage of cash as one of the main factors that would positively affect the money laundering process in the economy, which according to him has had already a progress in this regard.
According to him, banks pose the greatest risk, followed by other sectors and legal entities as well.
Fitim Konjusha, Director of the Department for PPP / FT and Compliance in the Union and moderator of this event said that the process of money laundering in the economy is destructive to the economy and competition between businesses.