The process of verification of asset declarations of public officials in Serbia will be enhanced with a new mechanism for exchange of information between the Agency for Prevention of Corruption and National Bank in Serbia. The proposed mechanism is a result of a thorough assessment of current practices in exchange of information and based on best practices identified in seven European countries: Albania, Armenia, Romania, Moldova, Latvia, France and North Macedonia. The comparative analysis was part of the overall review of the implementation of the exchange of information between the Agency and banks, which has recently been included in the Agency’s extended mandate. The analysis explored different models of financial data exchange and mapped most practical mechanisms which can be transposed in Serbia. In addition to the comparative study and review related to the process of exchange with banks, the project conducted an assessment of existing mechanisms of communication among Serbian institutions: the Agency for Prevention of Corruption, Association of Banks, National Bank of Serbia and Commissioner for Information of Public Importance and Personal Data Protection.
On 16 December, the project organized a round table to present the findings of the comparative study and proposal of the exchange mechanism, which gathered representatives of all involved national institutions. The participants had the opportunity to learn more about the methodology of analysis, purpose and scope of collected data, channels of exchange, deadlines, sanctions, use of the banking data, disputes, clarifications, sanctions, alignment with GDPR, as well as to discuss the draft of the protocol for exchange of information beetween the APC and NBS, which will contribute to more efficient access to the banking data and higher degree of protection of personal data in the process of verification of asset declarations.
The Project “Preventing Money Laundering and Terrorist Financing in Serbia” is funded by Sweden, represented by the Swedish International Development Agency and implemented by the Council of Europe.