By AML Intelligence Correspondent THE UNITED STATES has sanctioned five current or former Bulgarian government officials for involvement corruption. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the following individuals “for their extensive involvement in corruption in Bulgaria”: Rumen Stoyanov Ovcharov (Ovcharov), Aleksandar Hristov Nikolov (Nikolov), Ivan Kirov Genov (Genov),…
ABAC, EU, Financial Crime, North America, Sanctions
NEWS: US sanctions Bulgarian government officials for ‘extensive involvement in corruption’

BULGARIA SANCTIONS: “The behavior exposed today spans political parties and administrations, highlighting the urgent need to dismantle the networks that have for years perpetuated illicit activities, especially in the energy sector. Corruption robs the Bulgarian people of hundreds of millions of dollars and hinders investment and economic growth in the country," said US Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. File photo shows Bulgarian police.