Regulatory Alerts2015-04-20 | Circular 2/2015 (GW) MONEYVAL Public Statement in respect of Bosnia and HerzegovinaMONEYVAL Public Statement on Bosnia and Herzegovina AML/CFT Deficiencies
The Council of Europe’s MONEYVAL committee issued a public statement highlighting ongoing anti-money laundering and counter-terrorist financing deficiencies in Bosnia and Herzegovina. German financial institutions must immediately apply enhanced customer due diligence to all transactions with Bosnian and Herzegovinian residents or entities. This requirement extends to credit, payment, investment management, insurance, and holding companies maintaining active business relationships with the jurisdiction.
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