BUSINESS

Danger of re-placing BiH on the “Blacklists” of the European Union and the FATF

The Association of Banks of Bosnia and Herzegovina warns the competent levels of government as well as the public of the danger of re-placing Bosnia and Herzegovina on the so-called “Blacklists” of the European Union and the FATF due to the delay in the adoption of the law on the prevention of money laundering and terrorist financing.

On the occasion of the meeting on the draft Law on Prevention of Money Laundering and Financing of Terrorist Activities scheduled for tomorrow by the Ministry of Security of BiH and to which governments and competent ministries of all levels of government in BiH were invited, the banking sector draws the attention of responsible officials.

“It is necessary for the new Law on Prevention of Money Laundering and Financing of Terrorist Activities to be harmonized with international standards for this area, ie to cover the segment of digitalization. Having appropriate and internationally acceptable standards for the prevention of money laundering and terrorist financing is an international obligation of Bosnia and Herzegovina, “the Association of BiH Banks said in a statement.

It is stated that they consider it necessary to warn the competent levels of government as well as the public of the danger of re-placing Bosnia and Herzegovina on the so-called “Blacklists” of the European Union and the FATF due to the delay in the adoption of this law.

They remind that Bosnia and Herzegovina was already on the so-called “Blacklists”, also because the adoption of regulations was delayed, and it took many years to delete them from these lists.

The eventual failure to pass the new law may again cause financial and other consequences for the citizens and the business community, as well as for Bosnia and Herzegovina, it is said in the announcement of the Association of Banks of BiH, ONASA news agency reports.

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