MONEYVAL Adopts Serbia’s Progress Report

The Council of Europe’s expert committee MoneyVal, whose work is based on a system of mutual evaluations of its member states, adopted in December 2009 a detailed assessment report on the actions and measures undertaken by the Republic of Serbia against money laundering and terrorism financing.

The report also contains MoneyVal Recommendations that require from the Council of Europe member state in question to submit, one year after the adoption of the report, a progress report to this Committee.
The second day of the 34th MoneyVal Plenary, on 8 December 2010, the committee discussed the progress made in the anti-money laundering and counter-terrorist financing system in Serbia over the past year. Following MoneyVal’s detailed analysis of Serbia’s compliance with the most important FATF recommendations, Serbian delegation was asked numerous questions by the delegations of the Council of Europe member-states, as well as by MoneyVal’s financial and legal experts. After a successful discussion of the Progress Report, the MoneyVal Plenary decided by consensus to adopt the Progress Report of the Republic of Serbia. The Progress Report will be published on the official web page of the MoneyVal Committee.
Apart from the representatives of the Administration for the Prevention of Money Laundering, the delegation of the Republic of Serbia comprised the representatives of the National Bank of Serbia, Ministry of the Interior, and Securities Commission.
The adoption of the Progress Report is yet another confirmation of an efficient performance of the Serbian delegation, and of the Administration for the Prevention of Money Laundering in particular.