SANC And MIA Propose New Law Against Money Laundering

The Bulgarian State Agency on National Security (SANC) and the Ministry of Internal Affairs (MIA) propose a whole new law against the money laundering, reported BGNES.

The current law contains 24 Articles and 5 Chapters, while the proposed project contains 125 Articles and 10 Chapters.

The new law aims to align the Bulgarian legislation in accordance with the European Directive according to money laundering, investigation, seizure and confiscation of benefits of crimes and terrorist financing.    

The requirements of the new EU Directive 2015/849 are set to be involved in the new national legislation till the end of July 2017.