ARTICLE · 14 FEBRUARY 2020

Deadline For Update Of AML Internal Rules

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The National Risk Assessment was published on 9 January 2020, triggering the start of the six-month deadline.

BulgariaGovernment, Public Sector

Milena Gabrovska

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Under Bulgarian anti-money laundering law, all obliged entities must adapt their internal rules in accordance with Article 101 of the Bulgarian Anti-Money Laundering Act ("AMLA") within six months following the publication of a national assessment of the risks related to money laundering and terrorism financing ("National Risk Assessment") on the website of the State Agency for National Security ("SANS").

The National Risk Assessment was published on 9 January 2020, triggering the start of the six-month deadline.

Who is concerned?

Entities obliged under Article 4 of the AMLA to apply anti-money laundering measures, e.g. wholesalers, banks, insurers, companies trading with oil and petroleum products, etc.

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