SARAJEVO, Oct 1 (Reuters) - Bosnia’s central bank has upgraded its registry of company accounts, aiming to improve payment systems and prevent illegal operations, such as tax evasion and money laundering, the bank said in a statement.
The new registry will now list all accounts of business entities that make payments through accounts opened with banks and the central bank in Bosnia, as opposed to only the transaction accounts that were listed until now.
The registry will be useful to commercial banks, tax authorities, administration bodies and law enforcement agencies that investigate financial tools and transactions that companies and individuals can exploit for tax evasion and money laundering purposes, the bank said.
The authorised users will now have free access to the registry’s data via the Internet. The registry will be operated by the central bank based on data provided by the commercial banks, the bank said.
Reporting by Daria Sito-Sucic, editing by Larry King