MONEYVAL: BiH removed from list of countries with legal framework deficiencies

At the 52nd Plenary Session of MONEYVAL, held in Strasbourg from 6 to 8 December 2016, the progress of states under MONEYVAL jurisdiction identified as having deficiencies in the legal framework related to FATF recommendations concerning terrorist financing and targeted measures related to terrorism and terrorist financing was reviewed.

As part of the aforementioned reporting, the MONEYVAL Committee was informed that the Council of Ministers of Bosnia and Herzegovina adopted a Decision on the implementation of United Nations Security Council Resolution 1373, and that the Decision has been published and is already in force. Following an analysis of the Decision, the MONEYVAL Secretariat concluded that the Decision in question constitutes a legal framework for the implementation of UN Security Council Resolution 1373. The Decision defines the procedure for applying financial restrictive measures under the UN Resolution, upon the proposal of national competent authorities or a request from another state. The Decision establishes the basis for listing designated persons who appear in accordance with the criteria of UN Resolution 1373.

For the aforementioned reasons and taking into account the progress achieved, the MONEYVAL Committee at its 52nd Plenary Session adopted a conclusion removing Bosnia and Herzegovina from the list of countries with legal framework deficiencies, and the further application of this legal framework will be monitored within the framework of the regular progress assessment of Bosnia and Herzegovina for the 4th round of MONEYVAL evaluation.