Fight Against Money Laundering – International Standards and Criminal Law Regulation in Bulgaria Cover Image

Борбата с прането на пари – международни стандарти и наказателноправна уредба в България
Fight Against Money Laundering – International Standards and Criminal Law Regulation in Bulgaria

Author(s): Desislava Dukova
Subject(s): Law, Constitution, Jurisprudence, Criminal Law, Law on Economics
Published by: Институт за знание, наука и иновации ЕООД
Keywords: money laundering; FATF; AMLD; predicate offense; financial intelligence; PEPs; cryptocurrencies

Summary/Abstract: The report examines the evolution of international standards for anti-money laundering and their implementation into Bulgarian legislation. The focus is placed on FATF recommendations and the EU Anti-Money Laundering Directives (AMLD). The composition of the crime under Art. 253 of the Penal Code of the Republic of Bulgaria and the challenges in proving the predicate offense in judicial practice are analyzed. The paper also addresses preventive mechanisms under Bulgarian anti-money laundering law, the role of the Financial Intelligence Directorate within the State Agency for National Security, the regime concerning politically exposed persons, professional money laundering schemes and complex corporate structures, as well as the risks posed by cryptocurrencies, digital assets and terrorist financing

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