Presentation of Money Laundering, Terrorism Financing and Proliferation Financing National Risk Assessment

The first presentation of National Risk Assessment was held on 24 December 2024 at the Serbian Chamber of Commerce, in the presence of representatives of the Administration for the Prevention of Money Laundering (APML), Public Prosecutor’s Office for Organized Crime and coordinators that participated in the risk assessment. The event was attended by a large number of obliged entities from AML/CFT Law, state authorities and academia.

Željko Radovanović, APML Director, opened the event, emphasising the importance of conducting money laundering, terrorism financing, proliferation financing and VASP national risk assessment. He said that FATF Recommendation 1 has been fully implemented throughout the process and indicated its cascading effect on all other Recommendations, stressing the importance for the obliged entities to identify and understand properly the risks assessed by the country and to manage them accordingly.

Through active participation of private and public sectors, strategic documents have been developed, which aim to define future activities, as well as the readiness of all stakeholders to address assessed risks through undertaking activities in a period to come and to minimize them through joint activities.  

The Team Leader and National Risk Assessment Coordinator Jelena Pantelić presented the findings of the assesment undertaken in the period from June to December 2024, which relate to reviewing and assessing risks present in AML/CFT system, abuse of NPO sesctor for TF purposes, legal persons and arrangements, VASPs and proliferation.

It should be emphasised that cooperation between state and private sectors will continue, with all the stakeholders having the same task: prevention of illegal assest from entering financial sector and DNFBPs as well as efficient prosecution and confisaction of illegally acquired assets.

The process gathered more than 200 representatives of state sector in addition to the representatives of financial sector and DNFBPs in order to produce objective and reliable findings on threats and vulnerabilities that exist in AML/CFT system.