Montenegro is stepping up efforts to combat money laundering and terrorist financing as part of its drive toward deeper European integration, the head of the central bank said.
“Preventing money laundering and terrorism financing is not only a regulatory requirement but also the foundation for strengthening financial market integrity and a key precondition for full European integration,” Central Bank Governor Irena Radovic told a regional conference on fraud prevention and instant payments.
Radovic said stronger standards would enable Montenegro to take part in European initiatives such as the Single Euro Payments Area (SEPA) and the TARGET Instant Payment Settlement (TIPS) system, allowing faster, safer and cheaper transactions for citizens and businesses.
She highlighted the bank’s progress over the past two years, including tightening regulation, strengthening supervision, and adopting risk-based measures in cooperation with Eurosystem central banks.
The conference in Podgorica brought together senior representatives of central banks and regulators from Albania, Bosnia and Herzegovina, Kosovo, North Macedonia and Serbia, along with international experts.