Combat Against and Prevention of Money Laundering;

PRESS RELEASE

14 August 2015

Today the Bulgarian National Bank (BNB) and the State Agency for National Security (SANS) have signed a guideline for cooperation. This guideline is based on art. 3, par. 3 of the Law on SANS and art. 35, par. 2 of the Rules for Implementing the Law on SANS.

Under this joint guideline, which is not a public document, the two institutions undertake to cooperate in the following areas, in keeping with the functions assigned to them by law and preserving their independence:

• combat against and prevention of money laundering;

• combat against and prevention of terrorist financing;

• prevention and detection of attacks related to the economic and financial security of the Republic of Bulgaria.

The cooperation will be in the form of joint inspections, exchange of information, expert and technical assistance, and other methods within the competencies of the BNB and SANS. Also, joint training courses and seminars are planned to be organised.

The new rules and procedures for cooperation between the BNB and SANS are the first step in creating a new institutional framework for operational collaboration between the BNB and other public institutions. Enhancing the efficiency of the BNB’s cooperation with public institutions and state authorities in Bulgaria is in line with the priorities for the Central Bank’s governance and institutional development announced by the BNB Governor.