Financial Crime World

Financial Crime Prevention Methods in Bosnia and Herzegovina

Bosnia and Herzegovina continues to grapple with corruption, ranking 35 out of 100 on Transparency International’s Corruption Perception Index in 2021. The country’s government effectiveness and control of corruption scores from the World Governance Indicators by the World Bank also indicate a lack of progress in addressing financial crime.

Challenges in Financial Crime Prevention

  • Bosnia and Herzegovina scored 60.2 out of 100 in 2017, with a corruption score of 5 out of 7 in the Nations in Transit report by Freedom House in 2018.
  • The country’s democracy score was also rated 4.64 out of 7.

Anti-Corruption Agencies and Institutions

State Investigation and Protection Agency (SIPA)

  • SIPA is a state-level agency responsible for investigating and prosecuting corruption.
  • The Criminal Investigation Department and Financial Intelligence Department work together to prevent, detect, and investigate criminal offenses that fall under the jurisdiction of the Court of BiH.

Ministry of Security

  • The Ministry of Security plays a key role in coordinating anti-corruption efforts in Bosnia and Herzegovina.
  • The Agency for the Prevention of Corruption and Coordination of the Fight against Corruption is also an independent body responsible for preventing corruption, educating citizens about its risks, and monitoring the implementation of anti-corruption policies.

Prosecutor’s Office of BiH

  • The Prosecutor’s Office of BiH has jurisdiction over specific crimes, including cases involving financial crime and corruption among civil servants.
  • Entity-level Prosecutor’s Offices of the Federation of BiH and Republika Srpska, as well as the Public Prosecutor’s Office of the Brčko District, also have their own areas of jurisdiction.

Progress and Challenges

  • A recent report by GRECO (Group of States against Corruption) found that Bosnia and Herzegovina is making progress in its fourth evaluation round.
  • However, the country still faces significant challenges in preventing financial crime and corruption.

Recommendations for Improvement

  • Strengthening anti-corruption agencies and institutions
  • Improving coordination among them
  • Increasing transparency and accountability in government and public institutions

By addressing these challenges and implementing effective measures to prevent financial crime and corruption, Bosnia and Herzegovina can make progress towards reducing corruption and improving the lives of its citizens.