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Pursuant to the Law on the Prevention of Money Laundering and Terrorist Financing [(OGM 110/2023, 65/24, 24/25) hereinafter: the Law], the Central Bank of Montenegro is responsible for supervising the operations of credit institutions and branches of foreign credit institutions, as well as entities performing purchase of receivables, financial leasing, safe custody services, factoring, issuing guarantees or other sureties, granting loans and credit mediation, foreign exchange operations, and payment institutions and electronic money institutions  in accordance with the law governing the provision of payment services and the issuance of electronic money– pursuant to Article 131 paragraph 1 of the aforementioned law.

The Central Bank of Montenegro commences its supervisory role by issuing licences to entities under its competence, as well as to their top management. The CBCG monitors and supervises compliance of reporting entities with regulations and internal acts, assesses the adequacy of the system for the prevention of money laundering and terrorist financing implemented by the reporting entities in order to prevent the abuse of the system for these purposes. In case of irregularities, the Central Bank of Montenegro undertakes measures in accordance with its legal powers and submits requests for the initiation of misdemeanour proceedings or imposes other appropriate measures in accordance with the laws within the remit of the Central Bank of Montenegro (written warning, agreement, administrative decision, warning...).