The complexity of the system for preventing money laundering, the financing of terrorism and proliferation of weapons of mass destruction requires strong interagency cooperation and coordination mechanisms.
If coordination and cooperation are not done appropriately at the national level, the country faces the risk of providing a partial response to risks and threats, and an inconsistent one, and eventually with negligent effects.
This is why the AML/CFT Law has specific provisions on establishing an AML/CFT Coordination Body, and the Serbian Government established the AML/CFT Coordination Body on 12 July 2018. The AML/CFT Coordination Body has 32 members representing 26 state institutions, authorities and bodies, who are analysing the key issues relevant for the functioning of the AML/CFT system in Serbia, coordinating and recommending measures to improve the system. It is chaired by the minister of finance.
Existence of effective interagency coordination and cooperation mechanisms is also an international standard. Moneyval has found Serbia to be largely compliant with the relevant FATF recommendation (Rec. 2).