BiH no more on EC’s list of weak anti-money laundering and terrorist financing regimes

Bosnia and Herzegovina is no longer on the European Commission’s new list of 23 third countries with strategic deficiencies in their anti-money laundering and counter-terrorist financing frameworks, which was adopted on 13 February.

The aim of this list is to protect the EU financial system by better preventing money laundering and terrorist financing risks. As a result of the listing, banks and other entities covered by EU anti-money laundering rules will be required to apply increased checks (due diligence) on financial operations from these high-risk third countries.

The new list includes Saudi Arabia, Iran, Iraq, Nigeria, Libya, Syria and Yemen.