site.btaParliament Passes Provisions to New Anti-money Laundering Measures Act

Sofia, March 7 (BTA) - Parliament Wednesday passed conclusively provisions to the new Anti-money Laundering Measures Act to align it with the Fourth Anti-Money Laundering Directive of the EU.

Some of the measures introduced with the new provisions are comprehensive checks of financial transactions customers, collection and storage of documents and other information, risk assessment of money laundering frauds, disclosure of information in suspected transactions, operations and customers, exchange of information and assistance of the Financial Intelligence Directorate with financial intelligence units in foreign countries and jurisdictions, and other competent bodies.

Some of the measures are obligatory for banks, lending and financial institutions, currency exchange bureaus, insurers, public authorities when entering concession agreements, political parties, wholesalers, merchants trading in weapons, oil and oil products, the tax and customs authorities, among others.