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Action against Corruption, Money Laundering and Terrorist Financing in Bosnia and Herzegovina

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A new initiative aimed at boosting trust in the rule of law and democracy in Bosnia and Herzegovina has been launched to prevent and control economic crimes. The “Action against corruption, money laundering and terrorist financing in Bosnia and Herzegovina” is a joint programme between the European Union and the Council of Europe’s Horizontal Facility for the Western Balkans and Türkiye.

Goals and Objectives

The action aims to support authorities in fighting and preventing corruption, money laundering and terrorist financing in Bosnia and Herzegovina. It will also strengthen the legal and institutional framework for prevention of corruption and anti-money laundering, as well as improve the implementation of preventive measures against conflict of interest and asset declaration.

Key Components

  • Strengthening the legal and institutional framework for prevention of corruption and anti-money laundering
  • Improving the implementation of preventive measures against conflict of interest and asset declaration
  • Supporting competent authorities in further strengthening the legal and institutional framework

Beneficiaries

The institutions that will benefit from this action include:

  • Ministry of Security
  • Ministry of Justice
  • Financial Intelligence Unit
  • Banking sector supervisors
  • Indirect Taxation Authority
  • Ministry of Interior
  • Prosecutor’s Office

Ultimately, it is expected to contribute to a safer and more secure environment for the people of Bosnia and Herzegovina.

How it Works

The action will focus on supporting competent authorities in further strengthening the legal and institutional framework for prevention of corruption and anti-money laundering. It will also improve the track-record of implementation of this framework, including:

  • Preventive measures against conflict of interest and asset declaration
  • Supervision and sanctioning
  • Prevention of terrorist financing
  • Application of targeted financial sanctions

Expected Achievements

The action is expected to achieve a number of key outcomes, including:

  • Enforcement of provisional measures
  • Confiscation of illicit assets
  • Increasing trust in the rule of law and democracy in Bosnia and Herzegovina

Budget

The total budget for this action is €230,000. The overall Horizontal Facility programme has a budget of approximately €41 million (85% funded by the European Union and 15% by the Council of Europe).

Getting More Information

Those interested in learning more about this initiative can contact the Council of Europe’s Economic Crime and Co-operation Division or visit the Horizontal Facility website.