The BiH Parliament on Wednesday rushed through changes to the BiH criminal code in order to improve measures relating to money laundering and the financing of criminal and terrorist activities. Europe’s anti-money-laundering watchdog, Moneyval, has long warned BiH that it could face financial sanctions if it failed to bring its laws in line with European norms.
Last December, Moneyval urged Bosnia to “immediately and meaningfully address its … deficiencies, in particular by adopting necessary amendments to its Criminal Code.”
Without prompt action, Bosnia risked being placed on Moneyval’s “grey list”, which would complicate financial transfers in and out of the country.
Following adoption of the amendments, Moneyval experts will review the changes and announce whether they meet requirements.
