High risk of money laundering

Based on calculations presented by the United Nations Development Programme representative in Montenegro, Garret Tankosić Kelly, between €66 million and €110 million per year are subject to money laundering in the country.

Tankosić Kelly gave this figure at the opening of the seminar on the enforcement of the Act on Preventing Money Laundering and Terrorist Financing, citing data given by the United States State Department and International Monetary Fund.

According to the US State Department and IMF, the approximate rate of money laundering in Montenegro can be assessed on the basis of a percentage, which ranges from 3 to 5 percent of the country’s gross domestic product (GDP)...

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