Monday, 18 November 2019

Finance Ministry body identifies challenges in money laundering preventio

In its 2018 report, the Administration for the Prevention of Money Laundering of the Serbian Ministry of Finance has identified trends and challenges in the fight against money

laundering, including cash investments in the construction sector and trade in cars, transactions via non-resident accounts, tax evasion and crypto currencies.

BELGRADE - In its 2018 report, the Administration for the Prevention of Money Laundering of the Serbian Ministry of Finance has identified trends and challenges in the fight

against money laundering, including cash investments in the construction sector and trade in cars, transactions via non-resident accounts, tax evasion and crypto currencies.

Investment of cash of unknown origin in the construction and real estate sectors is a phenomenon the report describes as an "established trend" of investing cash coming from

unknown sources, as well as from "organised crime or individual criminals."


Financial operations via non-resident accounts are cited as a "trend of money transfers via non-resident accounts of foreign legal and natural persons in the banking sector of the

Republic of Serbia" and specific trade transactions for certain goods or services, "used fictitiously for either carousel frauds or pure money laundering or for the two combined,"

are the suspected vehicle for such transactions.


source: tanjug.rs
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