BALKANS STATES STRUGGLE TO REFORM AML/CFT WITHOUT BIG STICK OF EU MEMBERSHIP
February 18th, 2024
Balkans countries once part of Yugoslavia, still outside the European Union (EU) face a tough task upgrading their AML/CFT systems to appropriate international and EU standards. The record of three countries – Serbia, North Macedonia and Bosnia & Herzegovina - shows how remaining outside the EU and its AML legislation, places complete political responsibility on their national governments for difficult AML/CFT reforms, which they can be slow to undertake. This is despite the EU – all three want to join – saying AML reform is a prerequisite of becoming a ...
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