wmlro.com: mistake in Bulgarian law means no effective FIU for 18 months.
Bulgaria's finance minister, Simeon Djankov, has said that changes in the organisation of government departments has left the FIU with no power to demand suspicious transaction information.
Djankov is quoted in Bulgarian newspaper Standart as saying ""As Bulgaria's agency for financial intelligence passed under the cap of the State Agency for National Security (SANS) and the latter has no right to require information from commercial banks, nobody has watched for instances of money laundering in the poorest EU country for a year and a half."
His solution is to create a new quasi FIU within the finance ministry. It will, nominally, be an anti-fraud agency but it "will be authorised to require information from the commercial banks," he said.
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