The project “Preventing Money Laundering and Terrorist Financing in Serbia” is supporting the Working Group of the Ministry of Finance responsible to conduct the first Sectoral Money Laundering (ML)/Terrorism Financing (TF) Risk Assessment focusing on the real estate sector. According to the latest outcomes of the ML/TF National Risk Assessment, the real estate sector encompasses a high risk of money laundering in the Republic of Serbia and, so then, deserves particular attention from the relevant authorities.
On 19 and 20 July 2022, a two-day workshop was organised in Divcibare, Serbia, bringing together 26 representatives of the relevant institutions. The workshop gathered members of the Working Group, representatives of the Administration for Prevention of Money Laundering, Republic Public Prosecution, Prosecution for Organised Crime, Higher Court, Ministry of Construction, Ministry of Trade, Tax Administration, Geodetic Authority, National Bank of Serbia and Securities Commission.
Throughout the workshop, participants received advice on the collection of relevant data necessary to assess and analyse threats, practical examples on money laundering typologies connected with the real estate sector, and on the key data needed for assessment of vulnerabilities, questionnaires and risk matrices. In addition, the Council of Europe experts shared international best practices in the assessment of ML/TF risks related with the real estate sector. During the event, the Working Group developed an outline of the Risk Assessment methodology to be used and allocated future tasks. This real estate risk assessment should be finalised by the end of 2022.
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.