The Central Bank of Montenegro (CBCG) has imposed fines totaling €5 million on commercial banks for breaches related to the prevention of money laundering and terrorist financing.
Governor Irena Radović said that, according to available data, no financial penalties had been issued in this area for nearly two decades prior to her mandate.
The first fine was imposed in February last year on one bank, which was subsequently fined four times with the maximum penalty allowed by law.
Radović explained that the shift followed a full alignment of Montenegro’s regulatory framework with European standards as part of the country’s integration into the Single Euro Payments Area (SEPA). “After harmonising our regulations with the EU framework, we began imposing multi-million-euro fines,” she said, stressing that stricter enforcement is aimed at strengthening financial system integrity and compliance.
