6 days ago
BiH sets up body to combat money laundering, terrorism financing
SARAJEVO, July 24 (Xinhua) -- The Council of Ministers of Bosnia and Herzegovina (BiH) adopted a decision on Thursday to establish a permanent coordination body for the prevention of money laundering, the financing of terrorist activities, and the financing of the proliferation of weapons of mass destruction.
The decision aims to ensure proper enforcement of the Law on the Prevention of Money Laundering and Financing of Terrorist Activities, and to align BiH's efforts with the recommendations of MONEYVAL, a monitoring body of the Council of Europe.
Its tasks include conducting risk assessments, preparing action plans, and drafting a national strategy to fight money laundering and terrorism financing in line with international standards.
BiH adopted major legal reforms in 2024 to meet MONEYVAL standards and support its progress toward European Union membership.
