Financial Crime World

Financial Crime Prevention Methods in Bosnia and Herzegovina Under Scrutiny

Introduction

In a bid to combat corruption and financial crime, the government of Bosnia and Herzegovina has established a robust institutional and legal framework. This includes the establishment of an independent body or office responsible for investigating and prosecuting corruption cases, as required by the United Nations Convention against Corruption.

Institutional Framework

Prosecutor’s Office of Bosnia and Herzegovina

  • The Prosecutor’s Office of Bosnia and Herzegovina was established in 2003 with jurisdiction over war crimes, organized crime, economic and financial crime, and corruption.
  • A special department within the office is responsible for investigating and prosecuting cases related to organized crime, terrorism, money laundering, and international smuggling.

Ministry of Security of Bosnia and Herzegovina

  • The Ministry of Security plays a crucial role in preventing financial crime.
  • The State Investigation and Protection Agency (SIPA) is responsible for investigating and prosecuting serious financial crimes, as well as terrorism and war crimes.
  • SIPA also has a Crime Investigation Department focused on terrorism, organized crime, human trafficking, economic crimes, and anti-corruption, as well as a Financial Intelligence Department established in 2004 to combat money laundering.

Key Institutions

Central Election Commission

  • The country’s Central Election Commission is another key institution in preventing corruption, particularly in the electoral process.
  • The commission was established in 2001 as a permanent and independent body responsible for organizing elections, ensuring transparency, and promoting fair competition among candidates.

Agency for Civil Service

  • The Agency for Civil Service was established under the Law on Civil Service (2004) to regulate the employment of civil servants, ensuring transparency, accountability, efficiency, and professional impartiality.
  • The agency also implements laws related to public procurement, including the Public Procurement Law (2004), which requires the establishment of a Public Procurement Agency.

Auditing Institutions

  • Bosnia and Herzegovina’s auditing institutions are responsible for ensuring financial discipline within government bodies.
  • The Office for Auditing of Financial Operations is an independent body that conducts audits and ensures compliance with laws regulating public finances.

Efforts to Combat Corruption

Efforts to combat corruption in Bosnia and Herzegovina continue, including the establishment of a special state-level body for fighting against corruption as proposed by the country’s Strategy for Fight against Organized Crime and Corruption (2006).