Bulgaria’s Anti-Money Laundering and Combating the Financing of Terrorism Regulations Under Scrutiny

In a recent evaluation, Bulgaria’s anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations were put to the test. The assessment was conducted using the 2013 Methodology and based on information provided by the country as well as data collected during an on-site visit by the evaluation team.

Evaluation Findings

The findings of this comprehensive review have been thoroughly examined and endorsed by the Financial Action Task Force (FATF), a global authority on AML/CFT standards. The report’s executive summary provides key takeaways and priority actions required to strengthen Bulgaria’s AML/CFT framework.

Key Takeaways

• Comprehensive Review: The evaluation assessed Bulgaria’s AML/CFT regulations using the 2013 Methodology.
• FATF Endorsement: The findings were thoroughly examined and endorsed by the Financial Action Task Force (FATF).
• Priority Actions: The report provides key takeaways and priority actions required to strengthen Bulgaria’s AML/CFT framework.

Next Steps

Bulgaria must now implement the necessary measures to address the identified gaps and shortcomings in its AML/CFT regulations. This will ensure that the country’s financial system remains robust and resistant to money laundering and terrorist financing risks.

By implementing the recommended actions, Bulgaria can strengthen its AML/CFT framework, improve transparency and accountability, and demonstrate its commitment to combating financial crime.