The Central Bank of Montenegro (CBCG) has clarified that it maintains a Central Register of Transaction Accounts in accordance with the Payment Operations Law, which, since August 4, 2021, includes data on non-residents. This announcement comes in response to the European Commission’s (EC) report on Montenegro, which indicated that the CBCG lacked a register for non-resident accounts, an essential tool for investigations involving non-residents.
In light of this, the CBCG emphasized the significance of the register in combating financial crime and aligning regulations with international standards. The amendments to the Decision on the Content of the Central Register of Transaction Accounts, made in May 2021, clearly mandate banks to submit data on non-resident transaction accounts starting from August 4, 2021.
The CBCG is responsible for defining the content of the Central Register, the data required, and the procedures for data submission and access.
