MONEYVAL CALLS ON BULGARIA TO IMPROVE USE OF FINANCIAL INTELLIGENCE, INVESTIGATION AND PROSECUTION

On 27 June, the Council of Europe body published the mutual evaluation report on Bulgaria following the onsite visit in September.  The report highlights various shortcomings, but concludes that although there are some technical and procedural constrains, Bulgaria provides generally timely and constructive assistance across the range of requests for international co-operation, including mutual legal assistance. On effectiveness, it is said that Bulgaria has achieved a low level of effectiveness in areas related to the use of financial intelligence, investigations and prosecutions of money laundering, confiscation of proceeds of crime or property of equivalent value, targeted financial sanctions related to proliferation financing and the prevention of misuse of legal persons and arrangements.

https://rm.coe.int/moneyval-2022-1-mer-bulgaria/1680a70913

https://search.coe.int/directorate_of_communications/Pages/result_details.aspx?ObjectId=0900001680a70353

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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