Anti-Money Laundering Administration

Anti-Money Laundering Administration is Republic of Serbia’s Financial Intelligence Unit, responsible for implementation of the Law Against Money Laundering. The Administration collects, analyzes and stores data and information received from taxpayers. If it suspects that a person or transaction may be involved in money laundering, the Administration informs competent state bodies (police, judicial or inspection authorities) in order for them to undertake adequate actions and measures.

Money laundering is the process of covering up illegal origin of money or property acquired through crime. If a criminal or an organized crime group obtained a benefit by crime, they seek a way to use the money or property thus obtained so as not to attract attention of competent bodies with their activities. They therefore make a series of transactions with the objective to present the money or asset as legally obtained. The money in this process often changes its form and is transferred from one place to another. Money laundering is a process that goes beyond national borders, hence mechanisms for combating this type of crime must be international in character.

Visit website of Department for money laundering prevention