Minister Nešić with representatives of the Moneyval Committee, Law on Prevention of Money Laundering to be adopted by February 16

(Patria) - The Committee of Experts on the Evaluation of Measures against Money Laundering and Terrorist Financing (MONEYVAL Committee) has begun its visit to Bosnia and Herzegovina, where it will hold a series of meetings with representatives of institutions at all levels of government until the end of the month. An introductory meeting was held today in Sarajevo, opened by the Minister of Security of BiH Nenad Nešić and the Deputy Executive Secretary of Moneyval, Andrew Lebrun.

The purpose of the visit is for MONEYVAL representatives to discuss with representatives of various levels of government, law enforcement agencies, NGOs, and the private sector in order to gain a more complete picture of the situation in the areas subject to evaluation.

Minister Nešić informed those present about the measures taken in the past period in this area, the most significant of which is the Law on Prevention of Money Laundering and Financing of Terrorist Activities, which, at the proposal of the Ministry of Security of BiH, was adopted by the Council of Ministers and sent for further procedure. This law is in line with the EU directives and regulations in this area and harmonizes the system of prevention of money laundering and financing of terrorism in BiH with the standards of FATF and Moneyval.

“I want to particularly emphasize that our activities and efforts are aimed at eliminating threats and risks that have been recognized as such through all relevant assessments. First and foremost, I am thinking of the threats of organized crime and the interaction between corruption and organized crime, which represents one of the most dominant factors threatening the development and economic stability of Bosnia and Herzegovina.

We can confidently state that the Ministry of Security of BiH is a leader in reform processes, fulfilling tasks, and improving the legal framework in the area of ​​preventing money laundering and financing of terrorist activities, having achieved its goals and obligations in terms of harmonizing and drafting regulations relevant to this area,” said Nešić.

The implementation of FATF recommendations is extremely important, as otherwise there is a danger of being placed on the “grey list,” which would have a negative impact on the credibility of Bosnia and Herzegovina in international relations, reduce investments, and hinder international trade.

The EU delegation on Saturday called on the House of Peoples of the BiH Parliament to hold a session this week and adopt the Law on Prevention of Money Laundering and Financing of Terrorist Activities before Moneyval concludes its mission on February 28.