At the plenary session held in April 2021, the Committee of Experts of the Council of Europe on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, MONEYVAL, has once again emphasized that financial intelligence bodies, among which the Administration for the Prevention of Money Laundering, do not have the authority to request information from banks without suspicion of money laundering, terrorism financing, and other related acts. A clear warning was issued to MONEYVAL member countries, including Serbia, not to intentionally or unintentionally abuse the FATF recommendations to suppress legitimate civil society activities. It was also pointed that the non-profit sector should be included in preparing the risk assessment of terrorism financing voluntarily, instead of through the exercise of formal powers of inspection bodies. Read more here.
Source: Civic Initiatives