Montenegro has begun updating its National Anti-Money Laundering and Terrorist Financing National Risk Assessment (NRA) with a two-day workshop held on 22 and 23 November 2018, supported by the CoE/EU Horizontal Facility Action against Economic Crime in Montenegro (AEC-MNE). The process is being coordinated by the Financial Intelligence Unit of Montenegro.

Ninety (90) representatives from 37 participating institutions and private sector discussed during the two days the AML/CFT threats, vulnerabilities, and mitigation measures. Eight working groups were established and task to undertake risk assessments on specific areas. The participants agreed on the approach and timeframe for undertaking the NRA, including regular meetings between group members, methods for collection and submission of data needed and interpretation of results.

The workshop was opened by the Minister of Finance of Montenegro Darko Radunovic, Head of Cooperation of Delegation of European Union to Montenegro Hermann Spitz, Head of Financial Intelligence Unit Vesko Lekic, and Head of Programme Office of Council of Europe in Podgorica Angela Longo. All speakers emphasized the importance of this activity for Montenegro and confirmed deep commitment of state institutions to implement international standards in the area.

The event marks the first step in HF-AEC-MNE support to the NRA process.