New AML Legislation

Bulgaria
UniCredit Bulbank AD
Summary: 
A new Law on the Measures against Money Laundering was adopted in Bulgaria
Thu, 05/04/2018

 

A new Law on the Measures against Money Laundering was promulgated in the Bulgarian State Gazette on 27 March 2018.

The new law transposes the requirements of Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (Fourth EU Anti-money Laundering Directive) in the Bulgarian legislation and replaces the previously existing law on the same subject matter.

Impact on investors: Further harmonisation of the regulations on anti-money laundering in Bulgaria with the EU legisaltion.