CBCG Organised a Regional Workshop in the Context of Preparations for Introducing Instant Payments: Focus on Anti-Money Laundering and Fraud Prevention

05/02/2026

In cooperation with the World Bank and with the support of the European Commission, the Central Bank of Montenegro (CBCG), organised a two-day regional workshop dedicated to banks- regulatory and operational obligations in the anti-money laundering and countering the financing of terrorism (AML/CFT) and fraud prevention areas, as preparation for introducing the instant payments system through the TIPS Clone project.

The workshop brought together representatives of the CBCG, the Montenegrin banking sector, and central banks from the region, with the aim of enhancing mechanisms for identifying, monitoring, and managing risks arising from the execution of real-time payments.

Opening the Regional Workshop, CBCG Governor Irena Radović emphasised that the development of instant payments must be accompanied by strong control and supervisory mechanisms, particularly in the area of preventing financial abuse and safeguarding the stability of the financial system. She highlighted that the CBCG was developing a regulatory framework fully aligned with European Union standards and Eurosystem practices, with a focus on system security and reliability, especially in the context of preventing misuse, financial fraud, and strengthening the AML framework.

Governor Radović noted that the CBCG and commercial banks are intensively working on adapting technical and operational solutions to ensure a stable and controlled introduction of the instant payments system, planned for July 2026. This will further modernise Montenegro’s payment system and accelerate and complete the country’s practical integration into the European Union’s single payments market.

Experts from the World Bank, the European Payments Council, and international financial institutions presented modern European standards and operational risk-management models for instant payment systems. Particular focus was placed on models for detecting suspicious transactions, real-time risk assessment, rapid response mechanisms, and improving coordination between financial institutions and competent authorities. In this context, they also presented experiences of EU Member States and national central banks of the Eurosystem in managing AML/CFT and anti-fraud challenges related to instant payments.

The workshop is being implemented within the Western Balkans Payment Systems Modernisation Project, financed by the European Commission and implemented by the World Bank, and forms part of a broader European Union initiative aimed at accelerating the digital transformation of the region’s financial sector and its gradual integration into the single European payments area.

This event is a continuation of a regional initiative launched by the CBCG last September in Podgorica, when senior representatives of central banks, supervisory and regulatory authorities from the region and international experts in supervision and payment systems, gathered to discuss anti-money laundering and counter-terrorist financing in instant payments. On that occasion, representatives of international partners and national central banks of the Eurosystem shared their regulatory and operational experiences in implementing instant payments and managing the associated risks.

Welcome Address by the Governor Irena Radović