Sanctions have begun: Countries are suspending financial transactions towards BiH!

Due to the published declaration by MONEYVAL, which sent a recommendation to member states, as well as other non-member countries, urging them to pay special attention to financial transactions with individuals and institutions from BiH, some foreign transactions have already been suspended, the Patria News Agency has learned.

Namely, it is known that BiH has not fulfilled the conditions set by MONEYVAL, because the law on prevention of money laundering and financing of terrorism has been adopted, but the amendments to the Criminal Code have not. The deadline for adoption was June 1.

As confirmed to NAP by Samir Omerhodžić, a member of the BiH delegation to MONEYVAL, he has also heard of sporadic cases of transaction suspensions, but believes it is not widespread.

- I have also heard some speculation about it, but I believe these are perhaps sporadic cases. Because it depends on the bank official. If they have instructions from their superior, then when identifying the sender of the money, they can suspend the payment due to the issued warning – says Omerhodžić.

He warns not to spread panic, as FATF will convene soon.

- FATF, which is the body of the G-7 group, will convene soon and place it on the blacklist. We should wait and see what happens next – added Omerhodžić.

Otherwise, the amendments to the Criminal Code were not adopted because deputies and delegates from the smaller BiH entity claimed that the law encroached on entity competencies.