Deputy Minister of Security of Bosnia and Herzegovina Ivica Bošnjak met today with the Head of the European Union Delegation to Bosnia and Herzegovina, Ambassador Luigi Soreca, to discuss addressing shortcomings in the system for preventing money laundering and terrorist financing, ahead of the expiry of the one-year monitoring period of Bosnia and Herzegovina by the Financial Action Task Force (FATF), in order for BiH to avoid being placed on the list of jurisdictions under enhanced supervision – the so-called “grey list”.
The Delegation of the European Union to Bosnia and Herzegovina warned that Bosnia and Herzegovina must take urgent and concrete steps in the coming weeks to avoid being placed on the “grey list”. A possible entry on this list would mean that the country is not sufficiently implementing international standards in the field of preventing money laundering and terrorist financing, which could have serious economic and financial consequences for the institutions, economy and citizens of Bosnia and Herzegovina.
In order to avoid being placed on the FATF “grey list”, the competent institutions should accelerate the implementation of the recommended measures, especially in the area of strengthening capacities for the prevention of money laundering and terrorist financing, more effective supervision of the non-financial sector, improving international cooperation and implementing targeted financial sanctions of the United Nations.
Bošnjak pointed out that significant progress has been made in the implementation of activities under the jurisdiction of the Ministry of Security of BiH. The Permanent Coordination Body for the Prevention of Money Laundering and the Financing of Terrorism has been established as a key mechanism for coordinating all competent bodies in Bosnia and Herzegovina, the Rulebook on the Implementation of the Law on the Prevention of Money Laundering and the Financing of Terrorism has been adopted, and intensive activities are being carried out to finally harmonize the Draft Law on the Application of Restrictive Measures, which primarily relates to the implementation of United Nations Security Council resolutions.
During the meeting, it was emphasized that the establishment of an effective system for managing confiscated illegally acquired assets at the state level is one of the priority activities that the authorities in Bosnia and Herzegovina need to regulate, as well as the establishment of beneficial owner registers by the competent institutions at the entity level, in accordance with international standards and MONEYVAL recommendations. It is crucial that Bosnia and Herzegovina demonstrates measurable and sustainable progress in all priority areas identified by MONEYVAL by February 2026 – the Ministry of Security of BiH announced.
