Regulatory Alerts2023-01-01
Law on the Prevention of Money Laundering and Terrorist Financing
The Government of Montenegro enacted this law to regulate measures for preventing and detecting money laundering and terrorist financing through the Financial Intelligence Unit. It defines money laundering and terrorist financing, establishes a comprehensive list of reporting entities including financial institutions, crypto-asset providers, and specific non-financial businesses, and mandates their compliance obligations. The legislation further outlines key legal terms, risk assessment procedures, and exemptions to ensure effective suppression of illicit financial activities.
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