Action Plan for the Implementation of Recommendations from Money Laundering Risk Assessment and Terrorism Financing Risk Assessment
Home > Activities > News > Presentation of NRA findings - Info session with prosecutors, judges and police in Niš, 23-24 May 2019
Presentation of NRA findings - Info session with prosecutors, judges and police in Niš, 23-24 May 2019
APML organized the third info session for prosecutors, judges and the police, in cooperation with Judicial Academy and OSCE Mission to Serbia. At the event on 24 May 2019, NRA findings were presented.
The goal of NRA is to draw conclusions on what sectors and actions within a system of a country carry potentially higher ML/TF risk, and what sectors and actions carry a lower risk. Only based on these findings can the country adequately respond to the risks identified through a set of measures and activities and make adequate decisions as to the allocation of risk in line with the assessment, with the intention to invest more efforts and resources into high-risk areas.
Money laundering and terrorist financing risk assessment was adopted by the Government on 31 May 2018, and the Action Plan for the implementation of NRA was adopted by the Government on 12 July 2018. A coordination team, headed by Deputy Prime Minister and Minister of Interior, established a Working Group for ML/TF NRA. The task of the Working Group for ML/TF NRA was to review and review the risks identified in 2012 NRA, in line with the World Bank Methodology. Jelena Pantelić (APML) was appointed Head of the Working Group and NRA Coordinator, whereas the members of the Working Group were the representatives of Republic Prosecutor’s Office, Ministry of Interior, Ministry of Justice, National Bank of Serbia, Securities Commission, APML, Security Information Agency and Prosecutor’s Office for Organized Crime.
NRA findings were presented by NRA Coordinator Jelena Pantelić and the representatives of the Republic Prosecutor’s Office, Ministry of Justice, National Bank of Serbia, Securities Commission, Supreme Court of Cassation, APML.
The participants learnt about the role of FATF and MONEYVAL, as well as of 40 Recommendations (Standards), and were informed during the session that the national ML/TF vulnearability was assessed to be medium-level, with no change tendency.
By having specific examples of ML threats and vulnerabilities of the system presented to them, the participants enhanced their knowledge of potential ML/TF risks. These examples will help the police, prosecutors and judges better understand different forms that TF and ML can take.
During the session, high-threat criminal offences for money laundering were presented, namely, tax evasion, corruption and unautorized drug production and trafficking, and so was the sectoral vulnerability of financial and non-financial sectors, with special emphasis on banking sector, real estate agents and games of chance. In addition to this, the participants were informed of the role that AML/CFT Coordination Body has, as well as of indicators for assessing threats and vulnerability, national AML/CFT legal framework and the role of supervisory authorities.
Throughout the session, the participants discussed the concept of predicate criminal offence, as the Criminal Code no longer requires a sentence for a predicate crime in order to initiate proceeedings for money laundering; rather, it is sufficient to have a criminal activity which generates ilegitimate funds.
A day before the infosession, namely, on 23 May, NRA Coordinator and AML/CFT supervisory authorities held a meeting with deputy prosecutors of the Higher Prosecutor’s Office in Niš and the representatives of the Special Department for Anti - Corruption. The purpose of the meeting was to teach prosecutors the powers of supervisory authorities and the ways the inspection is conducted, for the purpose of detecting suspicious activities and direct information exchange. This meeting was conceived to strengthen cooperation in order to ensure the information flow in AML/CFT combat.
Thse activities were organized within the Project on enhancing the quality and efficiency of suspicious transactions reporting (STR) and Administration for the Prevention of Money Laundering (APML) core functions, which is financed by the EU. The benficiary of the Project is the Ministry of Finance - Administration for the Prevention of Money Laundering, and the Project is implemented by a consortium led by KPMG.