28 Aug Banks and Administration refer to laws

Belgrade, August 28, 2020

By August 28, 2020, regarding the list of the Administration for the Prevention of Money Laundering of civil society organizations, out of 20 organizations and individuals who reported that they have sent requests to the Administration and banks, 14 responses were received from banks, 11 from the Administration for the Prevention of Money Laundering to the requests on the protection of personal data, and 11 to the requests for access to information of public importance, while a total of 12 subjects received some kind of response. All banks refered in their responses to the fact that, according to Articles 90 and 91 of the Law on Prevention of Money Laundering and Terrorist Financing, they are prohibited from disclosing to parties and third parties whether they have received a request from the Anti-Money Laundering Authority to submit certain data , and what such a request contains, as well as the fact that according to the same Law, all data collected by the Administration in the procedures conducted by it are secret. In its response to the request for access to information of public importance, the Administration stated that it conducts this supervision in accordance with the international obligations of the Republic of Serbia based on Recommendation 8 of the Working Group on Financial Action and UN Security Council Resolution 2462 of March 28, 2019. an effective mechanism for cooperating with the non-profit sector to prevent its misuse for the purpose of financing terrorism. The Administration lists the criteria for selecting the sample and the reasons for initiating the procedure, indicators recommended by the FATF, criteria adopted by the Administration and the criteria contained in the Procedures and Criteria for Joint Supervision of Non-Profit Organizations. The Administration invokes that the required information has been declared secret by law, and therefore does not have the legal authority to make it available to the public, but assures that the Administration conducts all its activities in accordance with Serbian legislation, international recommendations and standards, and without selective approach and discrimination.

 

Background:

On July 27, 2020, it was announced in the media that the Administration for the Prevention of Money Laundering (the Administration) requested from commercial banks in Serbia data on several associations of citizens and individuals. As announced, the request of the Management refers to the following data for the period from January 1, 2019. years until the day of receipt of the Management Board's request: turnover on domestic and foreign currency account, including total by year, with the stated bases of inflows and outflows and data on whose order payments are made and in whose favor payments are made; data on authorized persons and "whether the mentioned persons are authorized on the accounts of other persons"; whether they have a safe and whether they are authorized by the safes of other persons; documentation and data on transactions in which the appointed persons are Nostro ordering parties or users of Loro remittances (SWIFT messages and documents on which consent postings have been made); all other useful information.