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22.03.2018
Legislative Retool of Anti-Money Laundering Policy in Bulgaria

In conformity with the latest legislative developments in Bulgaria, the Bulgarian National Assembly adopted the new Measures Against Money Laundering Act (MAMLA). The MAMLA implements the provisions of Directive (EU) 2015/848 on the prevention of the use of the financial system for the purposes of money laundering and terrorist financings.
The new legislation establishes the most developed measures in order to improve the prevention against acts of money laundering and terrorist financing.
Among the legislative changes are the establishment of a register of the actual owners of different types of legal entities, registered in the territory of Bulgaria, as well as of the actual owners of trusts; the performance of a complex check to identify customers; risk assessment and improvement of the capacity of the competent authorities to collect and exchange information on money laundering and terrorist financing.