This report provides a summary of the anti-money laundering/counter-terrorism financing (AML/CFT) measures in place in Serbia as at the date of the on-site visit (28 September to 9 October 2015). It analyses the level of compliance with the Financial Action Task Force (FATF) 40 Recommendations and the level of effectiveness of Serbia’s AML/CFT system and provides recommendations on how the system could be strengthened.