Council of Ministers Adopted Regulations for Prevention of Money Laundering and Terrorist Financing

April 24, 2015 10:45 AM

Council of Ministers faktor.baThe Council of Ministers of Bosnia and Herzegovina, at the proposal of the Ministry of Security, issued today at a meeting the Instructions on how to fill out the forms and electronic data entry applications for financial transactions by the taxpayer, which are in line with international standards on the prevention of money laundering and terrorist financing.

This instruction determines the ways of filling out the forms and electronic data entry in the application process of financial transactions to the Financial Intelligence Department of the State Investigation and Protection Agency, in accordance with the Law on Prevention of Money Laundering and Terrorist Financing.

Simultaneously, the Council of Ministers of B&H adopted the Ordinance on the Implementation of the Law on Prevention of Money Laundering and Terrorist Financing, which in further detail regulates this area and facilitates the application of the Law on Prevention of Money Laundering and Terrorist Financing.

The aim is to help taxpayers in meeting their obligations and to facilitate the application of the regulations for the prevention of abuse of the financial system in the fight against money laundering and terrorist financing; it was announced from the Information Service of the Council of Ministers of B&H.

(Source: klix.ba)

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