At today’s 10th session, the Government of the Republic of North Macedonia adopted the text of the Draft – Law on Prevention of Money Laundering and Financing of Terrorism.
According to the explanation of the Ministry of Finance, the reasons for adopting this Law come from the need for its harmonization with European legislation in the field of fight against organized crime, that is, the provisions of Directive 2018/843 from 2018 on the prevention of the use of the financial system for the purposes of money laundering and terrorist financing.
In accordance with the EU Directive and the International Organization for the Prevention of Money Laundering and Financing of Terrorism, Financial Action Task Force (FATF), the new draft legal solution incorporates solutions in regards to overcoming the risks identified with the National risk assessment of money laundering and terrorist financing, adopted in 2020.
Translation: N. Cvetkovska
