Financial Crime and Terrorism Funding on the Rise in Serbia and Montenegro: UNODC and OSCE Step Up Training Efforts to Combat Threats
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The United Nations Office on Drugs and Crime (UNODC) and the Organization for Security and Co-operation in Europe (OSCE) have recently delivered a training program aimed at strengthening local capacities in countering the financing of terrorism (CFT) and anti-money laundering (AML) practices in Serbia and Montenegro.
Growing Threat of Financial Crime and Terrorism Funding
The joint initiative has underscored the growing threat of financial crime and terrorism funding in the region. The train-the-trainer course brought together a team of practitioners from Montenegro’s law enforcement agencies, including the Special State Prosecutor’s Office, National Security Agency, Customs Administration, Financial Intelligence Unit, and Police Directorate.
Key Takeaways
- Participants learned about the terrorist funding cycle, the importance of finance for terrorist organizations, and various types of illicit financial flows.
- The course featured an introductory session on cybercrime and virtual asset tracing, highlighting the need to address the increasingly complex nature of financial crimes in the digital age.
- Interactive sessions facilitated knowledge transfer, peer learning, and collaboration among participants, fostering a culture of cooperation and coordination.
Next Steps
As part of the comprehensive training program, the Montenegrin practitioners will now be equipped to deliver training to their colleagues, enabling them to conduct effective financial investigations and engage in necessary inter-agency and international cooperation while respecting human rights standards. A foundational training course is scheduled for June in Budva, Montenegro, marking the next step in rolling out the program among a wider audience of law enforcement officials and other stakeholders.
Regional Effort
The joint UNODC-OSCE training initiative is part of a larger effort to combat organized crime, money laundering, and cybercrime in the region. The program is aligned with UNODC’s Regional Programme for South Eastern Europe and is supported by the Global Programme against Money Laundering, Proceeds of Crime and the Financing of Terrorism (GPML) and the Regional Office for South Eastern Europe (ROSEE).
Financial Support
The course received financial support from the United States of America and Norway.
Conclusion
The successful completion of the training program marks a significant step in strengthening Montenegro’s capacity to combat terrorism financing, underscoring the importance of international cooperation in addressing transnational security threats, illicit flows, and cybercrime. As the global fight against terrorism funding continues to evolve, it is crucial that countries like Serbia and Montenegro prioritize effective financial investigations, inter-agency coordination, and public-private partnerships to prevent the misuse of their financial systems.
The UNODC-OSCE training initiative serves as a powerful reminder of the critical role that international cooperation plays in addressing these threats and promoting regional stability.