Financial Crime World

Bulgarian Courts Crack Down on Money Laundering: A Look at Enforcement, Defenses, and Sanctions

Money laundering is a severe criminal offense rigorously enforced in Bulgaria. This article outlines the process of money laundering investigations, outcomes in Bulgarian courts, defenses, and sanctions in this context.

Enforcement in Bulgaria

Money laundering investigations follow a two-phase process:

Pretrial Phase

During the pretrial phase, investigations for money laundering allegations are led by prosecutors. They decide whether to press charges after the investigation concludes. Prosecutors typically handle these cases, but government investigators, Ministry of Interior police officers, and State Agency for National Security officers may get involved in high-profile cases.

Prosecution and Trials

Prosecution

If charges are filed during the pretrial phase, trials take place in district courts, such as Sofia City Court and equivalent regional district courts. Natural persons can be prosecuted for money laundering in Bulgaria.

Trials

Trials determine a verdict. The range of outcomes for criminal money laundering cases includes:

  • Imprisonment: 1 to 6 years
  • Fines: 3,000 to 5,000 lev

Aggravating Circumstances

  • Collusion with public officials: 1 to 8 years
  • Opening of accounts under fictitious names: 1 to 8 years
  • Fines: 5,000 to 20,000 lev

Serious Crimes With Large Funds

  • Imprisonment: 3 to 12 years
  • Fines: Up to 200,000 lev
  • Confiscation of subject matter of the crime (disgorgement)
  • Disqualification from certain professions or the holding of public office

Defenses and Burden of Proof

Common law defenses are not recognized in Bulgarian law. However, general defenses like mental incapacity or duress do apply. The burden of proof lies heavily on the prosecution. A defendant is considered innocent until proven guilty beyond a reasonable doubt.

When suspecting money laundering, seeking advice from Bulgarian legal experts is crucial for navigating the complexities of money laundering laws, defenses, and penalties.