In collaboration with the Ministry of Justice of Bosnia and Herzegovina and entity-level Bar Associations, the Council of Europe hosted a capacity-building workshop for lawyers on 10-11 December 2024 in Sarajevo. The workshop focused on the critical role of legal professionals in preventing money laundering and countering the financing of terrorism as gatekeepers to the financial system. The event brought together around 40 lawyers from across the country to enhance their understanding and compliance with requirements to apply preventive measures.

Legal professionals are uniquely positioned as gatekeepers against economic crimes due to their involvement in activities such as drafting deeds, handling purchase contracts, and forming companies, particularly in high-risk sectors such as real estate. Recognizing this, the workshop was designed to address specific vulnerabilities, equip participants with tools to identify and mitigate risks, and foster adherence to international standards, including FATF recommendations and EU directives.

The workshop provided a comprehensive exploration of the mechanisms and typologies of money laundering and terrorist financing, coupled with practical guidance on identifying red-flag indicators and fulfilling obligations to detect and report suspicious transactions. Participants delved into Bosnia and Herzegovina’s legal framework, balancing the demands of compliance with the principles of legal privilege. Interactive sessions offered hands-on opportunities to apply risk-based approaches to customer due diligence, ongoing monitoring, and internal controls.

By fostering a deeper understanding of money laundering and terrorist financing risks and mitigation strategies, the workshop empowered participants to uphold their responsibilities while ensuring that legitimate legal activities remain unhindered. 

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 European Union/Council of Europe Horizontal Facility for Western Balkans and Türkiye III and by a voluntary contribution of the Council of Europe.