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B&H Council of Ministers Decision: SIPA Will Know About Each Real Estate Sale Worth More Than 30.000 BAM

SIPAThe B&H Council of Ministers established at yesterday’s session the draft law on Amendments to the law on Prevention of Money Laundering and Financing Terrorist Activities, which in this area is aligned with the EU.

It was noted that Amendments to the Act defines the role of the Financial Intelligence Department of the State Agency for Investigation and Protection ( FOO SIPA) as the central unit that receives, collects, records, analyzes, investigates and forwards the results of analysis in this area.

One of the changes in the law is the introduction of the notary office for the Financial Intelligence Department of SIPA to submit data for every verified purchase agreement on real estate whose value is 30.000 BAM or more.

The Ministry of Security will submit a proposal to the law to the B&H Parliament.

(Source: Avaz)

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