MONEYVAL: BiH on high-risk countries list, insecure for financial investments

The Council of Europe's Committee of Experts on the Evaluation of Anti-Money Laundering and Counter-Terrorist Financing Measures MONEYVAL has recommended that other countries warn their financial institutions to pay special attention during transactions with individuals and financial institutions from BiH in order to protect themselves from money laundering and terrorist financing, reports the Patria News Agency.

The Committee of Experts of the Council of Europe on the Prevention of Money Laundering has decided to forward the case of BiH for further resolution to the International Cooperation Review Group, due to insufficient progress in eliminating legal deficiencies in the fight against corruption and terrorist financing.

MONEYVAL has placed BiH on the list of high-risk countries, which could adversely affect the country's economic system. Participants of the plenary meeting of this body, held from April 14 to 17 in Strasbourg, called on BiH to make all necessary legal changes in these areas as soon as possible, according to a statement.