April 07, 2014
TheSrpskaTimes

B&H has been granted an additional period of two months (until the end of May), during which it should adopt the Law on Prevention of Money Laundering and amendments to the Criminal Law relating to this area.

If this does not happen, our country will be blacklisted by the Financial Action Task Force (FATF) which, as we have already written, could have major consequences on B&H economy.

Will it be possible to adopt the Law on Prevention of Money Laundering in the said period remains to be seen because, according to the existing rules, the same Law can enter the parliamentary procedure only after six months.

If the conditions are not met by the set deadline, a statement in which MONEYVAL member states are called to control in detail all transactions with Bosnia and Herzegovina will be automatically released 1 June 2014, which is when the negative consequences arising from it will come into force.

Source: ekapija.ba