New authorizations for NBS: Register of WIRE TRANSFERS and SAFE DEPOSIT BOXES to be introduced

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Due to money laundering, wire transfers and safe deposit boxes will be inspected in the future by the National Bank of Serbia (NBS), which will keep a register of the users of wire transfers and a register of safe deposit boxes. Pursuant to the Act on the Prevention of Money Laundering and Financing of Terrorism, these authorizations are granted to the central bank, and the registration task begins on 1 June 2020. All banks and payment service providers of wire transfers are required to meet all the necessary technical requirements for submitting data to these registers by 15 April 2020, and to notify the NBS, the central bank said. The aim of establishing unique registers of the users of wire transfers and safe deposit boxes is to improve the efficiency of the system for preventing and detecting money laundering and terrorist financing by enabling the competent authorities in that system (prosecutors, courts, police and the Office for the Prevention of Money Laundering) to quickly and reliably access data on the users of safe deposit boxes and the persons who perform payment transactions without opening a payment account, since the data will now be kept centralized and will be regularly submitted and updated.

Source: Politika

Photo: Pixabay