Within the framework of the European Union and Council of Europe’s Horizontal Facility II - Action against Economic Crime in Montenegro, on 14 May 2020 a video conference was held with the aim to support Montenegrin authorities in implementing the provisions of the 5th EU AML/CFT Directive and addressing any other gaps identified with respect to required compliance with international AML/CFT standards.

The video conference facilitated the discussion on key deficiencies and recommendations provided in the Technical Paper, dealing with several key changes that have to be introduced in the revised Law on Prevention of Money Laundering and Terrorist Financing in order to meet FATF and EU AML/CFT standards.

This video conference was attended by representatives of the Ministry of Interior Affairs, Ministry of Justice, and of the Financial Intelligence Unit. Based on the comments provided, the Draft AML/CFT Law was amended and fowarded to the Government for further discussion.

The Action will closely follow the developments on the matter.