Risk Assessment of ML and Risk Assessment of TF
Risk Assessment of Money Laundering and Risk Assessment of Terrorist Financing document was adopted by the Government on 31 May 2018. This document is the result of intensive work and collaboration among relevant state authorities and representatives of private sector (financial and DNFBPs). As many as 154 repesentatives of the state and private sector collected data and information which indicate risk of money laundering and terrorism financing in line with the World Bank Methodology. The coordinator of the process was Jelena Pantelić of the APML and the work was done through five subgroups – threat assessment; vulnerability of the system; vulenarability of financial system; vulnerability of DNFBPs, terrorist financing risk assesment. Proper understanding of risks is of utmost importance for the country, as it contributes to the adequate allocation of resources and places focus on key risks.
Overall risk of money laundering is assessed as medium and is a result of threat assessment on one hand, and national vulnerability assessment on the other hand. Based on the analysis of predicate offences, overview of threats by sectors and cross-border threats, overall threat of money laundering has been assessed as medium, with tendency no change. Based on the analysis of national combat ability and sectoral vulnerability, national money laundering vulnerability has been assessed as medium.
Terrorism financing risk in Serbia has been assessed as medium, following the analysis of overall parameters and statistical data based on which terrorism threat, terrorism financing threat and terrorism financing vulnerability were assessed.
Findings of risk assessment resulted in the Action Plan for Implementing Recommendations from Risk Assessment of Money Laundering and Risk Assessment of Terrorism Financing, which was published in the Official Gazette of RS, no.55/18 on 16 July 2018.
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