Montenegro’s draft law would quadruple fines for failing to declare money at the border, with individuals facing penalties of 1,000 to 8,000 euros and companies 5,000 to 40,000 euros, the Ministry of Finance says. The proposed rules would also cover money sent without an accompanying person, including through postal and cargo shipments.
The ministry’s rationale is that existing rules do not allow effective enough control of unaccompanied money, making it harder to identify potentially risky transactions. The changes aim to strengthen oversight of cross-border payments, prevent money laundering and terrorist financing, and align Montenegro’s legislation with European Union rules.
Under the draft, the sender, recipient or representative of an unaccompanied shipment would have to file a written or electronic declaration with the Customs Administration at the customs authority’s request. The declaration would be due within 30 days of the request. For certain offences, additional fines would be calculated as a percentage of the undeclared amount.
If adopted, the Ministry of Finance and Customs Administration would monitor implementation. The amendments would require no additional budget allocation.
