The National Assembly of the Republic of Serbia adopted the Law Amending the Law on Prevention of Money Laundering and Terrorism Financing on 23 December 2019. The Law was published in the RS Official Gazette No 91/19 on 24 December 2019 and came into force on 1 January 2020. In the period to come, the Securities Commission will adjust its enactments (Guidelines, Lists of Indicators, AML/TF Questionnaire etc.) to the amendments of the Law on Prevention of Money Laundering and Terrorism Financing.
All the reporting entities – subject to this law are required to adjust their internal enactments to the new law and the Commission's Guidelines, by 1 May 2020, at the latest.
In addition, please note that the Financial Action Task Force (FATF), an inter-governmental body setting standards and promoting effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system – publishes standards and recommendations to be applied to prevent the misuse of assets for money laundering and terrorist financing.
A section of the FATF's website dedicated to publications, contains also a report which identifies the most common challenges that countries face in ensuring that the beneficial owner(s) of legal persons is identified, and suggests key features of an effective system. You can downoald the paper at the following link: