Bosnia-Herzegovina

New Documents

European Commission: Bosnia-Herzegovina Needs to Improve Financial Investigations, Asset Seizures

The European Commission released a report of regime recommendations for Bosnia-Herzegovina following the jurisdiction’s request to become a European Union member.

October 6, 2020

GRETA Publishes Second Round Evaluation Report on Bosnia-Herzegovina

The Council of Europe’s Group of Experts on Action against Trafficking in Human Beings published a second round evaluation report on Bosnia-Herzegovina, noting that several legislative amendments have been enacted since the last report, including a new law protecting victims of human trafficking.

March 31, 2017

European Commission Measures Progress of Bosnia-Herzegovina’s Fight against Organized Crime in Report

November 9, 2016

Bosnia-Herzegovina Authorities File Criminal Report, Block €900,000 Related to Three Suspected Money Launderers

July 8, 2016

GRECO Publishes Interim Compliance Report on Bosnia-Herzegovina

July 1, 2016

News

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

Metro Bank launches sanctions review, ING hit with money laundering penalty in Italy, and more, in the midweek roundup.

February 5, 2020

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

U.S. officials may ease trade and banking restrictions against Iran, Philippine bankers are under U.S. investigation for allegedly laundering as much as $81 million siphoned from Bangladesh Bank, and more, in the midweek roundup.

November 23, 2016

Midweek Roundup: North Korean Nuclear Test Draws Sanctions Threats, U.K. Reportedly Drops HSBC Case, and More

January 6, 2016

Weekly Roundup: OCC Fines Texas Bank $1 Million, OFAC Clarifies on Cuba Sanctions, and More

April 17, 2015

Weekly Roundup: Commerzbank Says Expected Settlement Costs May Rise, U.S. Taking a Second Look at UBS, and More

February 13, 2015

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 : 101/180
Score : 36/100

Tax Justice Network i

Rank : N/A
Score : N/A