"EUR 1.7bn laundered in Serbia"

Some EUR 1.7bn goes through money laundering operations in Serbia every year, Blic daily writes today.

Izvor: Blic

Saturday, 18.04.2009.

12:54

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Some EUR 1.7bn goes through money laundering operations in Serbia every year, Blic daily writes today. The article quotes Money Laundering Prevention Directorate chief Aleksandar Vujicic, who said that the money comes from illegal activities such as drug and human trafficking, abuse of official position and organized crime. "EUR 1.7bn laundered in Serbia" However, Vujicic also said that the money laundering trend in Serbia is on the decline, thanks to a prevention system, while preventive mechanisms include a legal obligation faced by the banks to report on all cash transactions worth EUR 15,000 and more, and other suspicious transactions. Vujicic revealed that money laundering in Serbia is mostly conducted via real estate acquisitions and privatizations, but would not talk about concrete cases, saying that this data is marked as official secret. In seven years since the Directorate's foundation, its chief told the newspaper, 11 criminal proceedings have been initiated, with three first-degree and two final rulings.

"EUR 1.7bn laundered in Serbia"

However, Vujičić also said that the money laundering trend in Serbia is on the decline, thanks to a prevention system, while preventive mechanisms include a legal obligation faced by the banks to report on all cash transactions worth EUR 15,000 and more, and other suspicious transactions.

Vujičić revealed that money laundering in Serbia is mostly conducted via real estate acquisitions and privatizations, but would not talk about concrete cases, saying that this data is marked as official secret.

In seven years since the Directorate's foundation, its chief told the newspaper, 11 criminal proceedings have been initiated, with three first-degree and two final rulings.

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