(Pristop) Mandatory filing of all financial transactions exceeding €15,000 introduced in Serbia

The Parliament has passed the Law on prevention of money wash, which means introduction of mandatory filing of all financial transactions exceeding €15,000 in national currency.

According to Belgrade’s media, the circle of payers who are obliged to deliver information on suspicious transactions or those of higher value to the Administration for Prevention of Money Wash in the Ministry of Finance has been enlarged. Also, obligatory identification has been introduced, which means that all visitors of the banks, betting places and exchange offices must present ID card for inspection.

Forwarding of information on bigger or suspicious transactions is legal obligation of banks, insurance companies, investment funds, broker companies, organizers of lottery games, tourist organizations and all those who deal with trade in real estates and automobiles.

The Law also regulates obligation of identification of off-shore companies that carry out transactions or open accounts in Serbia.