Kenneth Rijock

Kenneth Rijock

Tuesday, November 13, 2018

SERBIA MUST IMPROVE TO GET OFF THE FATF BLACKLIST OF HIGH-RISK COUNTRIES


 Serbia has failed to fully implement FATF's most recent recommendations on the prevention of money laundering, and the financing of terrorism.  The shortcomings include:

(1) The work of law firms is not properly supervised.
(2) Government agencies do not have complete and updated information on company ownership.
(3) A lack of monitoring of the financial transactions of Politically Exposed Persons (PEPs).
(4) Inadequate control of wire transfers.

Please keep these facts in mind when reviewing any transactions that affect Serbian banks, corporations, nationals, or companies.




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