Ministry result

Croatian Ministry of Finance proposes draft law to prevent money laundering

April 19, 2022 – The Croatian Ministry of Finance has proposed a new bill (law) in which several public institutions could see in the bank accounts of those who hold them in the Republic of Croatia, which would come as a crossing of a border for a lot.

As Poslovni Dnevnik writes, the Croatian Ministry of Finance has submitted a draft law for public discussion, which would provide access to the register of bank accounts held by businesses and ordinary people in Croatian banks to the State Prosecutor’s Office , Customs, Police and Tax Administration, in addition to the Office for the Prevention of Money Laundering, reports the Jutarnji list.

This is a bill to facilitate the use of financial and other information for the purpose of preventing, detecting, investigating or prosecuting serious crimes, which includes identifying, monitoring and freezing assets related to these crimes. According to the Croatian Ministry of Finance, this proposal would incorporate the latest European Union (EU) directive on the prevention of money laundering, tax evasion and other forms of financial crime into Croatian national legislation.

The so-called Single Account Register (Croatian: Jedinstveni registar racuna/JRR) was established as a central register of bank accounts in 2002 and is managed by the Financial Agency (Fina) of this country. In addition to keeping data on owners of different bank accounts, it also contains data on payment accounts, savings and deposit agreements held with credit unions and more.

Since 2011, the aforementioned register also includes data on consumer accounts opened with banks operating here in the Republic of Croatia. The register, however, does not contain information about the balance of these bank accounts, which is important to note given the apparent invasion of privacy this may look like to many people.

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