Category:
Documents - Public Policy Documents
Published on:
11. October 2019.

National Strategy against Money Laundering and the Financing of Terrorism (“Official Gazette of the RS”, No. 3/2015)

Pursuant to Article 45(1) of the Law on Government (Official Gazette of RS, No 55/05, 71/05 – corr., 101/07, 65/08, 16/2011, 68/2012 – CC decision, 72/2012, 7/2014 – CC decision and 44/2014),
The Government hereby adopts the

NATIONAL STRATEGY
AGAINST MONEY LAUNDERING AND THE FINANCING OF TERRORISM

1. INTRODUCTION

The National Strategy Against Money Laundering and Terrorism Financing, adopted by the Government of the Republic of Serbia on September 25, 2008 (Official Gazette of the RS, No. 89/08) (2008 National Strategy), was the first national strategy of the Republic of Serbia in the anti-money laundering and countering the financing of terrorism (AML/CFT) area. The 2008 National Strategy had a particularly important objective, namely to efficiently establish a complex and comprehensive AML/CFT system.

The 2008 National Strategy provided for recommendations to upgrade Serbian AML/CFT system including at the legislative, institutional, and operational level, and with respect AML/CFT training. Such design of the strategy was adequate for the current stage of the AML/CFT system development focusing largely on satisfying the international standards. The 2008 National Strategy can be considered as having accomplished its main purpose, i.e. to set up an AML/CFT system.

The new National Strategy (National Strategy), for the next five years, is the logical next step as it aims at substantively strengthening certain segments of the AML/CFT system through targeted and meaningful action.

A specific feature of this National Strategy is that it highlights the importance of cooperation among all the competent authorities given that the AML/CFT system can only be effective through such cooperation, including through information and expertise sharing, access to databases, and setting-up of task forces.

The National Strategy has taken into account the latest developments in international standards. . International standards now require not only technical compliance to standards but the success of an AML/CFT system will be assessed against the effectiveness of their implementation. The National Strategy intends to ensure that the standards (at the legislative and institutional levels) are met but in such a way to achieve effective results.

pdf

National Strategy against Money Laundering and the Financing of Terrorism (“Official Gazette of the RS”, No. 3/2015)

pdf

Action Plan for the Implementation of the 2015-2019 National Strategy against Money Laundering and Terrorism Financing