SIPA

The BH Delegation of Moneyval attended the 45th Plenary Session of the Council of Europe Committee for Anti-Money Laundering and Financing of Terrorism 15 – 19 September 2014 in Strasbourg.

The Delegation Chairman is a representative from the Financial Intelligence Department of the State Investigation and protection Agency (SIPA), and members of the Delegation are representatives from the Ministry of Justice BH and Insurance Agency in BH.

The BH Delegation of Moneyval presented its activities by stating and explaining facts on the operation of the anti-money laundering and terrorism financing system, and demonstrated that the anti-money laundering system did not have any important deficiencies and vulnerabilities.

Thereby, the Delegation provided the adoption of the decision not to apply step four to BH – putting BH into the ICRG procedure, which includes placement of BH on the FATF “grey list”.

The decision on further steps with reference to BH because of a failure to meet the requirements will be made after a regular evaluation planned for November this year.