Montenegro has taken another step toward strengthening its understanding of money laundering and terrorist financing risks and aligning with international standards for more effective prevention. With the support of the Action against economic crime in Montenegro, the authorities have completed three sector-specific risk assessments:
- money laundering risks related to grand corruption,
- money laundering risks linked to cash use and the informal economy, and
- terrorist financing risks involving non-profit organisations (NPOs) and payment institutions.
Each assessment was carried out with tailored expert guidance provided to the Police Directorate – Anti-money laundering and countering the financing of terrorism (AML/CFT) Department (Financial Intelligence Unit of Montenegro), as national coordinator, and other relevant institutions. The Action’s support included reviewing multiple iterations of the assessments, providing targeted recommendations on methodology, materiality, and the analysis of threats and vulnerabilities. The process included three roundtables, where the findings were presented and discussed by key institutions involved in updating Montenegro’s National Risk Assessment (NRA).
The roundtables gathered representatives of the Ministry of Interior’s Permanent Coordination Body, Agency for the Prevention of Corruption, Ministry of Justice, Special Prosecutor’s Office, Central Bank, Police Directorate – FIU, Ministry of Regional Development and Cooperation with NGOs, and the NGO Center for Development of Non-Governmental Organisations (CRNVO).
These efforts respond to the findings of MONEYVAL’s 5th Round Mutual Evaluation Report of Montenegro, which assessed that the country should enhance the national understanding of some important money laundering and terrorist financing risks. The identified threats and vulnerabilities will feed into the updated NRA, helping Montenegro strengthen its AML/CFT strategic framework.
The activity was organised by the Action against economic crime in Montenegro, within the framework of the European Union/Council of Europe joint programme Horizontal Facility for the Western Balkans and Türkiye.
