A Register of bank accounts to be created to counteract money laundering

A central register of bank accounts and submitted tax declarations will be established as part of the proposals in the Strategy for Combating Money Laundering, adopted by the Government today. After the Cabinet approves it, it should be submitted to the Parliament and a plan containing specific measures is to be drafted.

Another idea enshrined in the document is the set up a fund formed by a percentage of the confiscated money following sentences for money laundering. It will assist financially victims of human and drug trafficking, the investigation of such crimes and preventive measures, and will strengthen the administrative capacity of institutions dealing with the problem.
 
The strategy was developed by the RiskMonitor Foundation and was publicly presented on March 9, 2011 at a roundtable at the Council of Ministers, attended by Interior Minister Tsvetan Tsvetanov, Chief of the National Investigation Service, Boyko Naydenov, representatives of the judiciary, foreign diplomats and politicians from different parliamentary groups. The document itself complements and expands the National Security Strategy in its part regarding the financial and economic security.

The establishment of an interdepartmental coordination council is projected as well, entitled to carry out overall monitoring and implementation of the strategy. Collection of information and analyses from various institutions will be among its functions.

The strategy also plans the drafting of a list of companies and individuals with proven involvement in money laundering, aimed for information of positive businesses. Campaigns against money laundering are planned in order to improve the awareness about the destructive effect of such evil practices.

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