Bosnia_and_Herzegovina Bosnia-Herzegovina

New Documents

EU Adopts Ten Reports on Efforts of Applicant Nations to Improve AML/CTF, Anti-Corruption Measures

The European Commission adopted ten reports as part of its 2023 Enlargement Package, which provides detailed assessments on applicant countries that want to join the European Union.

November 8, 2023

GRECO Report Urges Bosnia-Herzegovina to Strengthen Anti-Corruption Efforts

The Council of Europe’s Group of States against Corruption issued a report on the corruption prevention measures of Bosnia-Herzegovina with respect to top executive functions and law enforcement authorities.

March 13, 2023

EU Commission Evaluates Regulatory Reforms in Seven Applicant Countries

October 12, 2022

European Commission Finds Disappointing Progress in AML/CTF Reforms of Bosnia-Herzegovina

October 19, 2021

Venice Commission Raises Concerns with Draft Conflicts of Interest Law in Bosnia-Herzegovina

July 7, 2021

News

Midweek Roundup: London Police Seize Record Cryptocurrency Haul, EU AML Plan May Spare Small Banks, and More

U.S. prosecutors charge Iranian agents with money laundering and kidnapping plot, New Hampshire company averted compliance controls to ship goods to Russia, and more, in the midweek roundup.

July 14, 2021

Weekly Roundup: Fintech Loses Bank Accounts, Maltese Lender Denies Involvement in Former Manager’s Alleged Laundering, and More

Bosnian authorities accuse former Raiffeisen Bank director of money laundering, China expands AML requirements to non-financial firms, and more, in the weekly roundup.

April 16, 2021

Weekly Roundup: AML Reform Bill Clears US Senate, FinCEN Encourages Banks to Share Financial Intelligence, and More

December 11, 2020

Midweek Roundup: US Federal Reserve Bans Goldman Sachs Exec Over 1MDB, ABLV Owner Named Suspect in Latvian Probe, and More

February 5, 2020

Midweek Roundup: US Regulators Consider New Restrictions on Banks Cited for Misconduct, Kansas Turkey Firm Investigated for Sanctions Violations, and More

November 23, 2016

Enforcement Actions

0 Items Found

Key Documents

Bosnia-Herzegovina Outlines Customer Due Diligence Obligations

June 19, 2009

Bosnia-Herzegovina Establishes Financial Intelligence Unit

May 4, 2004

Bosnia-Herzegovina Outlines Minimum AML/CTF Standards for Banking Activities

January 1, 2002

Bosnia-Herzegovina Details AML/CTF Requirements

March 14, 2005

Important Facts

  • The U.S. State Department labels Bosnia-Herzegovina as a major money laundering jurisdiction. Given that the country is not an international or regional financial center, most money laundering activities involve evading taxes and corruption. The country primarily has a cash-based economy. Less common money laundering activities involve concealing the proceeds of illegal activities including trafficking illicit drugs, human trafficking and organized crime. With porous borders and weak enforcement capabilities, Bosnia-Herzegovina is a significant market and transit point for smuggled commodities including cigarettes, firearms, counterfeit goods, lumber and fuel oils. Fraud and identity theft are increasing, as are identity card counterfeiting and credit card fraud. Money laundering through real estate transactions is also common.  The country has know your customer and suspicious transaction report regulations and applies due diligence measures.
- Source: 2020 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical Effectiveness
Compliant : 3 High :
Largely Compliant : 14 Substantial :
Partially Compliant : 18 Moderate :
Non-Compliant : 13 Low :
Not-Applicable : 1

BASEL i

Rank : 47/141
Score : 5.63/10

TRANSPARENCY INTERNATIONAL i

Rank : 111/179
Score : 35/100

Tax Justice Network i

Rank : N/A
Score : N/A