Insight view

10 YEARS OF INDEPENDENCE - INSIGHT VIEW
MONEY LAUNDERING AND FINANCING OF TERRORISM
Inefficient financial investigations
Young countries without strong institutions are especially sensitive and subjected to money laundering.
According to the report of the Anti-Money Laundering Index (AML Index) for 2015, which published
International Center for Asset Recovery (ICAR), Montenegro placed 121st on the list of countries
ranked according to the risk of money laundering and financing
of terrorism. According to this report, our country is in the
group of countries whose status significantly worsened in
comparison with a year earlier. Countries where the situation
worsened according to AML index were Guinea,
Guatemala, Jamaica, and Montenegro. This index analyzed
standards of the financial sector and transparency
of public authority in 152 countries worldwide.
Last year’s report of the Council of Europe Committee
for Fight Against Money Laundering (MONEYVAL)
pointed out to Montenegro the necessity of identifying
legal and practical obstacles that obstruct investigations in
money laundering cases and their processing, and also in establishment
of efficient policy for proactive financial investigations.
More than
2.5 billion dollars left
Montenegro between
2004 and 2013,
according to
Global Financial
Integrity
Money that left Montenegro
2006 2014 743,230.00 436 million €
$
2007 2013 727,500.00 743 million €
$
2008 2012 738,390.00 456 million €
$
2009 2011 800,000.00 278 million €
$
2010 850,000.00 259 million €
$
In the last resolution on Montenegro, European Parliament
expressed concern for a very small number of final
verdicts for organized crime and cases of seizure of the
property acquired by criminal acts. This document encourages
stronger and better cooperation between judicial
bodies and Public Prosecution Office, takes into
account that the legal framework on money laundering
was largely established, however, it invites significant
improvement of relevant supervising framework and a
rise of the number of investigations, punishment procedures,
and final verdicts for money laundering.
2011 2009 900,000.00 222 million €
$
Source: Global Financial Integrity
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