The Horizontal Facility further targets the fight against corruption, economic crime, money laundering and the financing of terrorism, as well as fight against environmental crime, which will include measures to address the transparency of funding of political parties, asset declaration systems, national risk assessments and capacity development of financial intelligence units.

Back Assessing effectiveness of key parts of the anti-money laundering and combating the financing of terrorism system in Montenegro

Assessing effectiveness of key parts of the anti-money laundering and combating the financing of terrorism system in Montenegro

Within the joint European Union and Council of Europe Action against economic crime in Montenegro a mock evaluation mission on effectiveness under 4 Financial Action Task Force (FATF) immediate outcome was held on 7 and 8 September 2021 in Podgorica.

During the mission, mock interviews were conducted with the main stakeholders, on the effectiveness of anti-money laundering and combating the financing of terrorism (AML/CFT) supervision, seizure and confiscation and implementation of targeted financial sanctions in Montenegro.

The objective of the interviews was, on one hand, to familiarise Montenegrin authorities with assessment procedure established by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) and, on the other hand, to collect information needed to assess the effectiveness of Montenegrin AML/CFT system in key areas, and assist the authorities in identifying and overcoming existing gaps in the legal, institutional and operational framework.

Action stakeholders expressed their continued commitment and support to the practical implementation of action’s activities.

The Action against economic crime in Montenegro is a part of the joint European Union/Council of Europe programme “Horizontal Facility for the Western Balkans and Turkey 2019-2022”.

Podgorica 20 September 2021
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Actions under theme II: Fighting corruption, economic crime and money laundering