MOLI Project against ML/TF in Serbia
Organised crime, corruption and money laundering are serious threats to economies, democracy and the rule of law across the world. South-Eastern Europe is particularly vulnerable to these threats due geographical, political and historical reasons. Criminal activity generates proceeds the amount of which is difficult to ascertain. Yet, money laundering alone costs the Serbian economy between 3%-5% of GDP every year.
The Council of Europe launched on 15 November 2010, a Project against Money Laundering and Terrorist Financing in Serbia (MOLI-Serbia). The Project’s duration is 36 months. The total amount of funds of the project is 2,200.000 Euro (90.91% EU funds and 9.09% CoE funds). This project builds on the results and recommendations of the previous joint project funded by the European Union and implemented by the Council of Europe, PACO-Serbia (2005-2007).
MOLI-Serbia’s overall objective is to contribute to democracy and the rule of law through prevention and control of money laundering and terrorist and other forms of economic and financial crime in Serbia. The purpose of the Project is to enhance the capacities of the anti-money laundering and counter-terrorist financing system in Serbia in terms of legislation, operations and capacities.
WHAT IS NEW : The week of 21 November will see a multi-agency study visit to Tallinn, Estonia and Vilnius, with the aim of gaining an insight into best practices on money laundering and terrorist financing in the Baltic countries. The Serbian delegation, consisting of representatives of the Administration for the Prevention of Money Laundering (APML), National Bank of Serbia, State Public Prosecutor’s Office and Customs Administration, will hold bilateral meetings with Estonian and Lithuanian Financial Intelligence Units, Financial Supervision Authorities, Law Enforcement Agencies and Central Banks.