Conference titled ‘Raising Awareness about Prevention and Fight against Money Laundering and Financing Terrorism’ was organized in Sarajevo on Tuesday as a part of the IPA 2013 Twinning Project ‘Support to the Fight against Money Laundering’.
The conference gathered over 50 representatives of agencies and institutions involved in the fight against money laundering, with the aim to highlight the importance of mutual cooperation of all involved authorities and raise awareness of the depth of the issue.
“The European Union is ready to provide continuous support to the efforts required to further strengthen the rule of law in Bosnia and Herzegovina. With this project we aim at increasing the competences of the institutions of BiH regarding the fight against money laundering up to the level required for EU accession”, said Richard Masa, Head of Cooperation with the EU Delegation to Bosnia and Herzegovina.
“This project is ambitious and challenging, it requires continuous commitment, strong ownership, close relationships and coordination, primarily from all beneficiaries at all levels of authorities in the country”, he added.
Masa underlined that relevant institutions in Bosnia and Herzegovina needed to explain to the public the upcoming legal adjustments and to highlight the significance of seizure of illegally gained assets, which had become the main objective of criminal proceedings when sanctioning crimes from which these proceedings were derived.
As a part of the project ‘Support to the Fight against Money Laundering’, the State Investigation and Protection Agency (SIPA) of Bosnia and Herzegovina has been equipped with analytical software and computer hardware for the Anti-Money Laundering System and prepared a draft capacity development plan for the Financial Intelligence and Unconstitutional Crime Units.
The project has presented the best practices of the EU Member States and utilized them in preparation of the risk assessment reports in Bosnia and Herzegovina as well as the action plan, drafted on the basis of key identified vulnerabilities in the country’s system.