A two-day training workshop aimed at strengthening the institutional framework and capacities to tackle money laundering and terrorism financing in Bosnia and Herzegovina took place on 15-16 October 2024 in Sarajevo.

The workshop was intended for competent authorities responsible for the supervision of lawyers and notaries within the scope of activities against money laundering and terrorism financing. The aim was to enhance the application of a risk-based approach in supervising selected legal professionals acting as designated non-financial businesses and professions (DNFBPs).

Among the central principles discussed was the need for supervisors to have a deep understanding of the money laundering and terrorism financing risks in their respective sectors. The workshop stressed the importance of a continuous dialogue with supervised entities, providing them with clear and accessible guidance concerning their obligations.

This training workshop built upon the conclusions of an earlier analysis of the existing regulatory framework, specifically entity-level rulebooks of the bar associations and notary chambers on the prevention of money laundering and terrorism financing in Bosnia and Herzegovina. The analysis included recommendations and preventive measures for the effective application of risk-based supervision of lawyers and notaries.

This workshop is a part of the Council of Europe's three-year initiative focused on combating corruption, money laundering, and terrorist financing in Bosnia and Herzegovina, funded under the joint European Union and Council of Europe programme “Horizontal Facility for the Western Balkans and Türkiye III” and through a voluntary contribution of the Council of Europe.