The second regional conference of heads of financial intelligence units, organized by the State Agency for Investigation and Protection (SIPA), was held from 15 to 17 October at Jahorina, near Sarajevo. SIPA, a government agency within the Ministry of Security of BiH, was founded for the purpose of police work. SIPA’s Financial and Information Section (FOO) collects information and documentation for the purpose of prevention of money laundering and hindering financial support of terrorist activities. It cooperates with the financial institutions and provides expert help to the Prosecutor. The Law on Prevention of Money Laundering determines the procedure and obligations for detection, prevention and investigation of money laundering and financing of the terrorist activities, including in international cooperation.
This regional conference focused on the promotion of international cooperation between financial intelligence units in the region, members of EGMONT Group (Association of financial intelligence units from around the world).
Participants, heads of Financial intelligence units from Croatia, former Yugoslav Republic of Macedonia, Montenegro, Serbia and Slovenia, as well as from Bosnia & Herzegovina, discussed the report developing several topics, such as the typology of money laundering and security aspects of work and experience in drafting the law on preventing money laundering and financing terrorism in accordance with international standards.
It was concluded that typologies of money laundering should be considered in the framework of all future Regional Conferences, given the expected further developments in this area in the region.
Bearing in mind the importance of the operation of information systems for the operation of financial intelligence units, it was also concluded necessary to organize a meeting of IT experts in order to achieve better data protection and promotion of mechanisms for data exchange.
Therefore, it was agreed that in the follow-up to the Conference all financial-intelligence units need to prepare statistical overviews of information exchange and common issues, after which the information on specific cases could be accessed and shared.
It was also agreed that for the successful cooperation of regional financial intelligence units, it is necessary to inform all relevant international actors who deal indirectly and directly with the money laundering and terrorism financing issues.
On the last day, the BiH Minister of Security, Mr. Tarik Sadović participants addressed the Conference. He emphasized the need for change to existing legislation in BiH, in order to fight against money laundering more efficiently. He also stressed that "without good regional cooperation, there is no efficient fight against organized crime”.
Deputy Director of SIPA, Mr. Sead Lisak said that the information and data available indicates that criminal groups and individuals are increasingly organized and active, and that criminal activities are carried out in ways harder to detect, to document and prove.
He pointed out the necessity of regional cooperation and concerted work between all the agencies on the implementation of the law if countries want to fight against money laundering and terrorist financing activities more efficiently.
We can conclude that this conference offered a clear picture of the scope of the problem of money laundering in the whole region, provided detailed information about international standards and techniques for combating money laundering and terrorist financing, as well as about the problems to be faced in the implementation of these standards.
Most importantantly, this conference confirmed the perspective for further, concrete cooperation for combating these crimes which does not recognize state borders. The third regional conference will be held in Croatia.
