The joint Council of Europe/European Union 2.2 million euro worth Project against Money Laundering and Terrorist Financing in Serbia (MOLI-Serbia), aimed at contributing democracy and the rule of law through the prevention and control of money laundering, terrorist financing and other forms of economic and financial crime in Serbia in accordance with European and other international standards, has come to the end of its implementation.
The project, 90 percent of which was funded by the EU, had started on 15 November 2010 and lasted for 42 months. It was implemented by the Council of Europe’s Economic Crime Cooperation Unit.
The project aimed to enhance the capacities of the anti-money laundering and counter-terrorist financing (AML/CFT) system in Serbia in terms of legislation, skills and operational capacities. The main counterpart institution for the project was the Serbian Administration for the Prevention of Money Laundering (APML).
The project included over 50 major initiatives including policy design, regulatory review, risk assessment and typologies work, training and capacity-building for the APML, financial sector supervisors, law enforcement, prosecutors and judges, as well as enhancing the IT capacities of authorities dealing with money laundering threats.
The project made comprehensive contributions in important areas such as: the drafting of a new AML/CFT Strategy and Action Plan; legislative reviews of over 40 relevant legislative and regulatory acts covering the financial sector. It also contributed to the completion of two national risk assessments on money laundering and terrorism financing, as well as several targeted assessments in high-risk sectors regarding money transfers and non-profit organisations; a comprehensive review of inter-agency cooperation practices and frameworks in the areas of law enforcement and supervision; a major IT upgrade for the APML.
The Council of Europe and the European Union would like to extend their gratitude to the beneficiaries for their active participation and very high level of commitment to the implementation of all of the project activities, particularly the APML, as well as the National Bank of Serbia, the Prosecutor’s Office, the Ministry of Interior, the Ministry of Justice and other ministries and agencies who took part in project activities and contributed to the successful outcome.
