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Montenegro: Report urges “proactive” investigations and prosecutions into money laundering offences

A report published today, urges the authorities in Montenegro to put in place an effective policy for proactive financial investigations.

The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) report also wants Montenegro to “identify the legal and practical impediments hindering money laundering investigations and prosecutions.”

The report finds that the money laundering offence in the Montenegrin legislation is now broadly in line with the Vienna Convention against Illicit Traffic in Narcotic Drugs and Pyschotropic Substances, and with the Palermo Convention on Transnational Organized Crime. Provisions dealing with liability of legal persons have been put in place. However, the authorities have not been very effective in convicting offenders.

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