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NEWS: MONEYVAL calls on Bulgaria to improve regulatory framework as country shows ‘low level’ of effectiveness in use of financial intelligence

By Elizabeth Hearst for AMLi

The Council of Europe’s anti-money laundering body, MONEYVAL, has called on Bulgaria to improve its regulatory framework and bolster its practical application of measures to tackle money laundering, in a new report.

Following on from an onsite visit in September 2021, MONEYVAL found that Bulgaria achieved a “moderate level of effectiveness” regarding the assessment of money laundering and terrorist financing risks. 

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