The government adopted amendments to anti-money laundering measures

The Council of Ministers adopted changes to the Regulations for the Implementation of the Anti-Money Laundering Measures Act (AMLIP). This was announced by the government press service.

The decree achieves compliance of the provisions of PPZMIP with the amended and supplemented provisions of the Law on Measures against Money Laundering, adopted with the Law on Amendments and Supplements to the Law on Measures Against Money Laundering, promulgated in the State Gazette, no. 84 of 06.10.2023, in force from 09.10.2023

According to the government this will allow the prevention measures provided for in the law to be applied in full the use of the financial system for the purposes of money laundering and terrorist financing.

Also, with the adoption of the amendments and additions to the EPA, in implementation of the Action Plan for Bulgaria adopted by the FATF, a more complete technical compliance with Recommendation 35 of the FATF, related to the provision of an effective, proportionate and dissuasive criminal law, is ensured. civil and administrative sanctions regime for violations of measures against money laundering and terrorist financing.