Representatives of notaries and real estate agencies from the Federation of Bosnia and Herzegovina gained concrete insights into the international standards, as well as practical tools for applying risk-based assessments for the prevention of money laundering and terrorism financing in their respective sectors.

They participated in a workshop organised by the Council of Europe on 6 and 7 May in Sarajevo, which involved expert lectures, strategic discussions, and interactive case studies focusing on the role and responsibilities of non-financial businesses and professions, including the application of standards, integration of risk assessments into internal policies and controls, client due diligence, and reporting obligations to the Financial Intelligence Unit.

The role of designated non-financial businesses and professions—particularly notaries and real estate agencies—has been recognised as vital in the fight against corruption, money laundering and terrorism financing. In its latest evaluation, the Council of Europe’s anti-money laundering monitoring body, MONEYVAL, identified these sectors as lacking the adequate anti-money laundering controls, making their engagement and proactive approach essential to ensuring that Bosnia and Herzegovina meets its anti-money laundering obligations.

Meeting these obligations is crucial for all related sectors, having in mind that any backsliding in Bosnia and Herzegovina's compliance with international standards could have serious consequences for their daily operations, including barriers to international cooperation, reputational damage, and increased administrative burdens.

The workshop was held as part of the Council of Europe project against corruption, money laundering, and terrorism financing in Bosnia and Herzegovina, implemented under the Council of Europe’s Action Plan for Bosnia and Herzegovina 2022-2025 and funded through voluntary contributions.