BUSINESS

Moneyval: BiH taken off the List of Countries with Deficiencies

MoneyvalThe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism Moneyval took Bosnia and Herzegovina off the list of countries with deficiencies in legal framework regarding the financing of terrorism.

This decision was reached at the 52nd plenary session of Moneyval held in Strasbourg from December 6 until December 8, 2016. It was discussed about the progress of states under the jurisdiction of this entity which have been previously identified as countries with deficiencies in legal framework related to FATF recommendations pertinent to the financing of terrorism and targeted measures in connection to terrorism and financing of terrorism.

Moneyval is informed about the Decision reached by the Council of Ministers of BiH on the implementation of the Resolution 1373 of the Security Council of United Nations, as well as that the Decision is published and already in use.

“After the analyses of the Decision, the Secretariat of Moneyval concluded that the subject decision represents a legal framework for implementation of the Resolution 1373 of the Security Council of UN. The Decision defines the process of application of financial restrictive measures from the UN Resolution, at the proposal of national relevant bodies or upon request from another state. The Decision is also a basis for inclusion on the list of appointed individuals who appear in accordance with criteria of the UN Resolution 1373,” it was stated.

Due to these reasons and taking into consideration the reached progress, Moneyval adopted a conclusion with which Bosnia and Herzegovina is taken off the list of countries with deficiencies in legal framework.

Further application of this legal framework will be monitored within regular assessment of progress of BiH for the fourth round of Moneyval evaluation, it was stated.

(Source: klix.ba)

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