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Croatia’s Financial Institution Anti-Money Laundering Efforts Strengthened
The Agency for Prevention of Money Laundering and Terrorist Financing (AMLO) has been at the forefront of Croatia’s efforts to prevent the misuse of its financial system. As a central national center, AMLO collects, analyzes, and disseminates data on suspicious transactions to competent authorities, ensuring that the country remains in compliance with international standards.
Key Responsibilities
- Analytical intelligence analysis on suspicious transactions
- Inter-institutional cooperation with all relevant authorities
- Exchange of data with foreign financial intelligence units (FIUs)
- Preventive measures such as off-site administrative supervision and education for reporting entities
- Publishing statistical data on money laundering and terrorist financing to inform the public
Organizational Structure
AMLO is divided into two main services:
Service for Financial Intelligence Analytics
- Departments responsible for:
- Suspicious transactions
- Strategic analysis
- Information systems
Service for Prevention and Supervision of Reporting Entities
- Oversees financial and non-financial institutions, as well as inter-institutional and international cooperation
AML/CFT System
Croatia’s anti-money laundering and terrorist financing (AML/CFT) system is designed to prevent the misuse of its financial system. The key element is the obligation of reporting entities to report suspicious transactions to AMLO, which then disseminates cases to competent authorities for further action.
- Supervisory bodies conduct supervision over reporting entities to ensure compliance with AML/CFT measures
Financial Intelligence Unit
AMLO serves as a financial intelligence unit, receiving, analyzing, and disseminating cases of suspected money laundering or terrorist financing. The agency works closely with law enforcement agencies, prosecution bodies, and courts to prevent the misuse of Croatia’s financial system.
Typologies Report
In addition to its core functions, AMLO has published several typologies reports on money laundering and terrorism financing, highlighting common schemes and tactics used by criminals. These reports provide valuable insights for reporting entities, supervisors, and law enforcement agencies to stay ahead of emerging threats.
As Croatia continues to strengthen its AML/CFT efforts, the Agency for Prevention of Money Laundering and Terrorist Financing remains a critical component in preventing the misuse of its financial system.