Financial Crime World

REGULATORY BODIES FOR FINANCIAL CRIME PREVENTION IN BOSNIA AND HERZEGOVINA

A New Action to Combat Corruption, Money Laundering and Terrorist Financing

Sarajevo - A new initiative has been launched in Bosnia and Herzegovina aimed at strengthening the country’s regulatory bodies to prevent financial crimes such as corruption, money laundering and terrorist financing. This action is part of a broader effort to enhance the country’s capabilities in combating economic crime.

Key Objectives

The Action aims to support the authorities in achieving key results in three main areas:

  • Enhancing Measures for Corruption Prevention
    • Strengthening measures and capacities to prevent corruption
    • Improving the effectiveness of anti-corruption mechanisms
  • Improving AML/CFT Supervision and Enforcement
    • Enhancing supervision and enforcement of anti-money laundering/countering financing of terrorism (AML/CFT) preventive measures
    • Increasing the efficiency of AML/CFT investigations and prosecutions
  • Strengthening Capacities for Seizures and Confiscations
    • Improving the capacity to effectively apply seizures and confiscations of illegal assets
    • Enhancing the effectiveness of asset recovery mechanisms

Implementation and Funding

The Action is being implemented with funding from the European Union/Council of Europe Joint Programme ‘Horizontal Facility for the Western Balkans and Türkiye’. It will be implemented in complementarity with other beneficiary-specific and regional actions against economic crime funded by the Horizontal Facility III.

Launch and Impact

The launch of this Action marks an important step forward in Bosnia and Herzegovina’s efforts to strengthen its regulatory bodies and enhance its capabilities in combating financial crimes. The initiative is expected to have a positive impact on the country’s economic development and its integration into the European Union.

Key Contacts

  • Evgeni Evgeniev, Head of Unit at the Council of Europe’s Unit for Eastern and Southeastern Europe (E&SEE)
  • Maja Muminagic, Senior Project Officer in Sarajevo