Regulatory Alerts2021-08-09
Decision on Guidelines for the Application of the Law on Prevention of Money Laundering and Terrorism Financing for Obligors Supervised by the National Bank of Serbia
The Executive Board of the National Bank of Serbia issued guidelines requiring supervised obligors, including banks and insurance undertakings, to harmonize their internal acts with new anti-money laundering standards by March 25, 2018. These guidelines mandate a comprehensive risk analysis framework that assesses customer, geographic, transaction, and product risks to determine appropriate due diligence measures. The document supersedes previous decisions and establishes detailed criteria for identifying high-risk activities, such as dealings with officials or entities in jurisdictions with weak regulatory frameworks.
Share