Bosnia and Herzegovina: Compliance with anti-money laundering standards

Changes have been made to the Bosnia and Herzegovina criminal code, to strengthen compliance with anti-money laundering standards, it has been announced.

In its 48th plenary meeting, held from 14 to 18 September in Strasbourg, the Council of Europe’s anti-money laundering committee ( MONEYVAL) decided to lift its Public Statement on Bosnia and Herzegovina.

This followed the adoption of key amendments to the Criminal Code in May 2015, which addressed outstanding shortcomings in relation to the money laundering offence and the confiscation regime.
Bosnia and Herzegovina was also removed from MONEYVAL’s Compliance Enhancing Procedures.

In April 2011, MONEYVAL urged Bosnia and Herzegovina to develop “a clear action plan,” to remedy major deficiencies identified in its anti-money laundering and counter terrorist financing regime.

According to MONEYVAL, despite adopting the action plan in 2011, Bosnia and Herzegovina made insufficient progress.

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