DIRECTIVE (EU) 2015/849 ON THE PREVENTION OF THE USE OF THE FINANCIAL SYSTEM FOR MONEY LAUNDERING OR TERRORIST FINANCING

DIMITRIJEVIĆ dr Duško (Институт за међународну политику и привреду, Београд), dimitrijevicd@diplomacy.bg.ac.rs
DUJIĆ dr Ivan (Институт за међународну политику и привреду, Београд), ivan@diplomacy.bg.ac.rs

After Serbia entered into the enhanced supervision procedure by the Committee of Experts of the Council of Europe for Evaluation of Measures against Money Laundering and Financing of Terrorism (MONEYVAL), the problem of harmonization of domestic regulations with European and international standards, first of all with the recommendations of the Financial Аction Task Force (FATF) from February 2012, was updated. Since Serbia is leading negotiations on EU accession, it must fully harmonize its legislation with European standards in this area, in particular with the Fourth Anti Money Laundering Directive (Directive 2015/849 of the European Parliament and the Council of 20 May 2015 on the prevention of the use of a financial system for the purpose of money laundering or terrorist financing). Although Serbia at the beginning of 2019 made progress in meeting the FATF recommendations, it will have to take concrete measures from the action plan in the coming period to avoid the risk to remain on the so-called \"blacklist\" of countries that do not respect international standards in this field. Lack of political will to complete international obligations in this area could be a decisive factor in stopping institutional reforms and then, quite certain, the process of Serbia\'s accession to the European Union.

Keywords: Money laundering, financing of terrorism, harmonization of legislation, prevention, Serbia, European Union