The Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) has published a report assessing the effectiveness of the Republic of Serbia in the field of combating money laundering and terrorist financing. The report shows that, over the past ten years, the Republic of Serbia has made significant progress and achieved one of the best results globally, sharing sixth place worldwide with Switzerland. To date, only 13 countries worldwide have achieved such results.
The MONEYVAL report states: “Overall, the system operates at a substantial level of effectiveness, supported by a strong framework for system coordination and continuous reforms aimed at strengthening supervision over risk management, as well as practices related to the application of repressive measures.” The report confirms that, over the past decade, the Republic of Serbia has made remarkable progress and achieved one of the strongest performances globally.
According to the MONEYVAL report, Serbia also received a positive assessment in the area of Transparency of Legal Persons and Their Beneficial Owners, which represents a notable accomplishment for the Serbian Business Registers Agency (SBRA). The Central Records of Beneficial Owners, maintained by the SBRA, stands as an integral part of Serbia’s system for combating money laundering and terrorist financing. From the very beginning through the completion of the evaluation process, the Agency actively participated in the evaluation through the engagement of its employees.
The evaluation process began in May 2024 and lasted 20 months. The assessment was conducted by MONEYVAL based on the global evaluation methodology established by the Financial Action Task Force (FATF), the global standard-setter in the field of anti-money laundering and counter-terrorist financing. All countries worldwide are assessed using the same methodology by various regional bodies, with each evaluation closely monitored and reviewed by the FATF.