PACO Serbia

 



Project Title : Project against Economic Crime in the Republic of Serbia

Project Title :           Project against Economic Crime in
                                the Republic of Serbia             
Project Number:      05/SER01/02/003
Country:                  Republic of Serbia
 
Project objective[s]: The overall objective of the project is to contribute to the
improvement of capacities of the Republic of Serbia to prevent and combat economic crime in accordance with international standards and best practices.
 
 
Planned outputs:   
 
It is expected that by the end of the project:
- the overall institutional and legislative framework for preventing and combating economic
  crime will have been reviewed and amendments drafted in line with international standards
  to remove the existing gaps and barriers preventing the relevant authorities from effective
  actions against economic crime and to allow for the ratification and implementation of the
  new Convention on money laundering and terrorist financing and the Convention on
  Cybercrime,
- all relevant authorities and policy-makers will be aware of the importance of improving
  the institutional and legislative framework for combating economic crime without any delay,
 
The Administration for the Prevention of Money Laundering (FIU) will:
- have a complete legal basis for its work and its interaction and information exchange
  with other institutions,
- have improved its co-operation with supervisory institutions, obliged entities,
  law enforcement and criminal justice bodies,
- have created an interagency co-ordination mechanism in anti money-laundering and
  countering terrorist financing (AML/CTF) matter
- have its staff trained in preventing and detecting terrorist financing,
- have organised training activities for financial institutions on identification of
  suspicious transactions,
- have reinforced its IT department.
 
Law enforcement, prosecutors and judges will:
- improve their capability to investigate, prosecute and adjudicate economic crime,
- have undergone training that will enable them to interpret and apply new legislative
  provisions referring to combating economic crime,
- be familiar with interpretation and application of international standards and best
  practices in detection and prevention of money laundering and terrorist financing,
- be familiar with international standards and best practices in fighting cyber crime.
    
Law enforcement, prosecutors and the FIU will:
- have improved co-operation and information exchange with national and foreign
  partners concerning economic crime and in particular money laundering and
  terrorist financing.

Project starting date: 1 December 2005
Project duration: 24 months