Tabakovic: Serbia has made enormous progress in AML/CFT

BELGRADE - Serbia has made enormous progress in anti-money laundering and combating the financing of terrorism (AML/CFT), National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic said on Thursday at an event that officially marked the beginning of an international assessment of Serbia's AML/CFT system within the sixth round of mutual evaluations launched by Moneyval, the Council of Europe's anti-money laundering watchdog.

Tabakovic said AML/CFT was a continuous process that depended on all stakeholders in the system.

"The fact that our regulations and practice are compliant with international recommendations does not mean we should not be upholding and advancing the system's effectiveness, as a key precondition for financial system integrity and stability," Tabakovic said.

"As one of the pillars of the preventive part of the system, the NBS provides full...