Bulgarian authorities, the Council of Europe and the European Commission reviewed the results of a joint Technical Support Instrument (TSI) project to strengthen Bulgaria’s anti-money laundering and countering the financing of terrorism framework at a closing conference in Sofia.
The project was tailored to the needs of Bulgarian authorities and adapted during implementation to support their efforts to address recommendations in the 2022 MONEYVAL Mutual Evaluation Report and commitments made under the Financial Action Task Force’s increased monitoring process. Its completion follows Bulgaria’s recent removal from the FATF list of jurisdictions under increased monitoring. This achievement reflects the work of Bulgarian authorities and national and international partners.
The project strengthened the authorities’ capacity to investigate and prosecute money laundering and terrorist financing, including through parallel financial investigations, the use of circumstantial evidence and the tracing, freezing and confiscation of criminal assets.
It combined legal and procedural analysis with practical training and international peer exchange. A comparative review examined Bulgaria’s terrorist financing legislation and its application, drawing on experience from other EU member states. It identified practical challenges and good practices in proving intent, using circumstantial evidence, ensuring effective inter-agency coordination, and aligning the liability of individuals and legal persons. A review of authorities’ internal procedures resulted in recommendations to strengthen and harmonise parallel financial investigations.
The project also produced a practitioner’s manual on circumstantial evidence and a strategic training plan comprising three levels of learning and 14 modules. Work began on additional guidance for tracing, freezing and confiscating criminal assets.
Workshops and training courses helped practitioners apply the project’s findings to terrorist financing investigations and prosecutions, financial intelligence, evidential approaches, inter-agency and international cooperation, and asset recovery. Other topics included investigations involving crypto-assets and their freezing and confiscation. During a peer exchange in Madrid, Bulgarian practitioners discussed practical approaches and shared good practices with their Spanish counterparts.
A seminar on risks in the non-profit sector brought together public authorities, financial institutions and civil society. Participants discussed safeguards against terrorist financing, transparency and good governance, while also considering financial inclusion and the protection of civic space.
The project delivered 17 activities, engaging 347 participants. It contributed to strengthening Bulgaria’s capacity to advance FATF Immediate Outcomes 7, 8, 9 and 10 which cover money laundering investigations and prosecutions, confiscation, terrorist financing investigations and prosecutions, and preventive measures for non-profit organisations.
The closing conference provided an opportunity to review the project’s achievements and implementation challenges, and to discuss lessons for future cooperation. Participants noted that the project’s lasting impact would depend on the continued use of its guidance, training materials and other results in institutional practice.
The activity was organised within the framework of the Technical Support Instrument (TSI) project on “Enhancing the anti-money laundering and countering the financing of terrorism (AML/CFT) framework in Bulgaria”. The project is co-funded by the European Union and the Council of Europe and implemented by the Council of Europe.