Bosnia-Herzegovina

New Documents

GRECO: Bosnia-Herzegovina Fails to Implement Anti-Corruption Recommendations for MEPs, Judges

The Council of Europe’s Group of States against Corruption published a fourth evaluation round report on Bosnia-Herzegovina’s framework for preventing corruption with respect to members of parliament, judges and prosecutors.

December 17, 2020

GRECO Report Highlights Bosnia-Herzegovina’s Lack of Anti-Corruption Progress

The Council of Europe’s Group of States against Corruption published an addendum to the 2018 second compliance report on Bosnia-Herzegovina’s efforts to criminalize corruption and ensure transparency of political party funding.

December 17, 2020

Bosnia-Herzegovina Announces Money Laundering Charges Related to Procurement of Respirators

December 10, 2020

OSCE, UNODC Provide Senior Practitioners in Bosnia and Herzegovina With CTF Training

November 25, 2020

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

October 6, 2020

News

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

Dutch ruling exposes bank executives to criminal liability for AML lapses, former Goldman Sachs president refuses 1MDB clawback, and more, in this week’s roundup.

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

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

January 6, 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 : 101/180
Score : 36/100

Tax Justice Network i

Rank : N/A
Score : N/A