Serbia's progress in strengthening measures to tackle money laundering and terrorist financing

Publication details

Language

English

Country

Serbia

This follow-up report sets out the progress that Serbia, member of FATF-Style Regional Body MONEYVAL, has made in improving its level of compliance with the FATF standards, since their 2016 mutual evaluation and subsequent follow-up reports.  As a result, the following Recommendations have been re-rated:

Recommendation 22 is re-rated from partially compliant to largely compliant

Recommendation 23 is re-rated from partially compliant to largely compliant

Recommendation 28 is re-rated from partially compliant to largely compliant

Recommendation 40 is re-rated from partially compliant to largely compliant

The report also looks at the country's implementation of new international requirements for virtual asset service providers established in the revised FATF Recommendation 15 has re-rated the country from largely compliant to partially compliant on this Recommendation. 

Serbia is now “compliant” with 5 of the forty FATF Recommendations, “largely compliant” with 34 Recommendations and “partially compliant” with one Recommendation. The country has no “non-compliant” ratings.    

 

MONEYVAL Follow-up Report Serbia - 2021

Filename
MONEYVAL-FUR-Serbia-Dec-2021.pdf
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391 KB
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Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Serbia Follow-Up Report 2021

R.1 - Assessing risk & applying risk-based approach
LC
R.2 - National cooperation and coordination
LC
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
LC
R.5 - Terrorist financing offence
LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
LC
R.7 - Targeted financial sanctions related to proliferation
LC
R.8 - Non-profit organisations
LC
R.9 - Financial institution secrecy laws
LC
R.10 - Customer due diligence
LC
R.11 - Record keeping
LC
R.12 - Politically exposed persons
C
R.13 - Correspondent banking
LC
R.14 - Money or value transfer services
LC
R.15 - New technologies
PC
R.16 - Wire transfers
LC
R.17 - Reliance on third parties
C
R.18 - Internal controls and foreign branches and subsidiaries
C
R.19 - Higher-risk countries
LC
R.20 - Reporting of suspicious transactions
C
R.21 - Tipping-off and confidentiality
C
R.22 - DNFBPs: Customer due diligence
LC
R.23 - DNFBPs: Other measures
LC
R.24 - Transparency and beneficial ownership of legal persons
LC
R.25 - Transparency and beneficial ownership of legal arrangements
LC
R.26 - Regulation and supervision of financial institutions
LC
R.27 - Powers of supervisors
LC
R.28 - Regulation and supervision of DNFBPs
LC
R.29 - Financial intelligence units
LC
R.30 - Responsibilities of law enforcement and investigative authorities
LC
R.31 - Powers of law enforcement and investigative authorities
LC
R.32 - Cash couriers
LC
R.33 - Statistics
LC
R.34 - Guidance and feedback
LC
R.35- Sanctions
LC
R.36 - International instruments
LC
R.37 - Mutual legal assistance
LC
R.38 - Mutual legal assistance: freezing and confiscation
LC
R.39 - Extradition
LC
R.40 - Other forms of international cooperation
LC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

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