CRIMINAL AND REGULATORY ASPECTS OF BANK LIABILITY IN MONEY LAUNDERING CASES

Ivica Matović; Radan Kostić; Dejan Gojkov

doi:10.59864/Oditor72602IM

Authors

Ivica Matović School of Engineering Management, Unversity “Nikola Tesla”, Belgrade, Serbia Author https://orcid.org/0009-0004-4697-9389
Radan Kostić Military Academy, University of Defense, Belgrade Author https://orcid.org/0000-0002-1642-1278
Dejan Gojkov Lead Supply Chain, E.ON SE, Essen, Germany Author https://orcid.org/0009-0007-7562-0916

DOI:

https://doi.org/10.59864/Oditor72602IM

Keywords:

money laundering, regulatory framework, criminal liability, legal liability

Abstract

The paper "Criminal and regulatory aspects of bank liability in money laundering cases" presents a comprehensive analysis of international and domestic legal standards, regulatory frameworks and responsibilities of banks and their employees in the system of preventing and combating money laundering. Special attention is given to the FATF recommendations as global norms, the EU regulatory framework (including directives and regulations), and the national legislative framework of the Republic of Serbia and international comparative examples. The following chapters address the obligations of banks in the area of customer identification, transaction monitoring and cooperation with regulatory authorities. The paper analyzes the legal and criminal liability of legal entities and employees, the mechanisms of regulatory liability and critically assesses the efficiency of the existing system based on available literature and empirical findings from secondary sources. The conclusion of the paper summarizes the key challenges, identifies gaps in the application of regulations and indicates recommendations for strengthening the AML control system.

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