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Instruction for the reporting entities on the use of lists of persons and entities subject to restrictive measures

Published date: 20.08.2015 14:12 | Author: APMLFT

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In accordance with the Law on International Restrictive Measures Montenegro, with a view to establishing and maintaining international peace and security, respecting human rights and fundamental freedoms, developing and strengthening democracy and accomplishing other goals in accordance with international law, implements the restrictive measures introduced upon:
1) UNSC resolutions, adopted upon the Chapter VII of the UN Charter;
2) European Union acts;
3) Organization for Security and Co-operation in Europe acts;
4) Decisions of other international organizations where Montenegro is the member or to or to whose statements Montenegro acceded in accordance with foreign politics priorities; and
5) Other basis, in accordance with the international law.
The Administration for the Prevention of Money Laundering and Terrorist Financing has published on its website direct links of the relevant organizations (UN, EU and OFAC) where the updated lists of natural and legal persons, terrorist and terrorist organizations, subject to restrictive measures, can be found. Also, each information on the changes of the lists received from the Ministry of Foreign Affairs and European Integration is published on APMLTF website.
These activities are undertaken with a view to enabling the reporting entities to have a continuous access to the updated lists which they are obliged to use during the course of their business.
How to use the mentioned lists
 All the reporting entities should, while performing their business activities, check the lists on regular basis and determine if they have established relationships with the listed persons;
 In case a reporting entity finds out that the person, it has established a business relationship with, is listed on any of the lists, it terminates each activity and immediately notifies the APMLTF thereof;
 If, when establishing a business relationship, a reporting entity finds out that the potential customer is on any of the mentioned lists, it interrupts the establishing of the relationship with such person and immediately notifies the APMLTF thereof.