Questions arise over media funding potentially linked to Serbian President Vučić
Portuguese regulators fined investment firm Alpac Capital and its owner 137,000 euros for 36 violations of anti-money laundering and counter-terrorism financing regulations between 2017 and 2023. While Portuguese authorities did not find evidence of money laundering, the case raises concerns about the transparency of a 30 million euro investment intended to acquire 12 media outlets from the United Group in the Balkans. This includes outlets such as 'Vijesti'. Alpac Capital representatives Pedro David and Luis Santos have not disclosed the ultimate beneficial owners or the sources of capital for this acquisition. The situation prompts scrutiny into the funding mechanisms of media entities operating in the region, particularly those that may be perceived as critical of Serbian President Aleksandar Vučić.
The reported regulatory action against Alpac Capital in Portugal, while not confirming illicit financial activity, highlights systemic risks associated with opaque capital flows into media ownership. The significant sum earmarked for acquiring Balkan media, coupled with a lack of transparency regarding ultimate beneficial ownership, presents potential governance challenges. In an era where media influence is critical for democratic discourse, ensuring the integrity of funding sources is paramount. Future regulatory frameworks may need to enhance due diligence requirements for cross-border media investments to safeguard against undue influence and maintain public trust in journalistic independence.
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