Aligning Montenegro’s legal framework for online gambling with international AML/CFT standards

Visio Conference 26 March 2021
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© Council of Europe

© Council of Europe

Within Council of Europe/EU’s Horizontal Facility for Western Balkans and Turkey Phase II – Action against Economic Crime in Montenegro (AEC-MNE), the Online conference "Prevention of money laundering and terrorist financing in online games of chance in Montenegro through adequate regulation and supervision" took place on 26 March 2021.

The objective of this conference was to present the recommendations of the Action for alignment of the regulatory framework for games of chance with FATF standards and MONEYVAL recommendations, as well as international best practices. This conference will contribute to enhancing the AML/CFT safeguards in the Draft Law on Games of Chance which is awaiting adoption in Montenegrin Parliament.

The conference provided a platform for discussion between lawmakers, supervisory bodies in the field of prevention of money laundering and terrorist financing, organisers of games of chance and experts of the Council of Europe.

The state institutions reaffirmed their commitment to complement the initial draft and to reinforce the supervision of the gambling sector, to revise their policies regarding client identification and customer due diligence as advised. The Action will continue assisting the authorities in this path.