Finance Ministry: Serbia taken off FATF ‘blacklist’

Finance Ministry: Serbia taken off FATF ‘blacklist’

Finance Ministry: Serbia taken off FATF ‘blacklist’ Izvor: fatf-gafi.org

Serbia is no longer on the so-called blacklist of the Financial Action Task Force (FATF), the media have reported on Friday, after spending over a year on it as an assessed risk to the international financial system.

The move by the FATF Assembly would help Belgrade in the process of opening new chapters in the accession negotiations with the European Union, the Finance Ministry said.

Serbia appeared on the list first time in February 2018 after an assessment it showed deficiencies in preventing money laundering and financing terrorism.

The country remained on the list after the FATF revisions in June and October of that year, the investigative Insajder network reported then.

Serbia's Prime Minister said the official information from FATF was still to come, but added it was a great success for the county.

 The FATF report said that following its recommendations on preventing money laundering and financing terrorism Serbia made an advance, but that not all strategic deficiencies had been removed, Insajder said.

In the meantime, Belgrade proved the commitment at the highest political level to implement the Action Plan, and that led to the removal from the blacklist, the Finance Ministry Friday’s statement said.

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