AML/CTF legislation country profile

ECBA Questionnaire filled in for Bulgaria

a)  Legislation

1. Definition of money laundering in the local legal system.

This matter is arranged in the Law on Measures Against Money Laundering - last amended on 5 Aug 2008: Art. 2. (Amended - SG. 54 of 2006)

(1) Money laundering as definded under this law is the:

1. conversion or transfer of property acquired from criminal activity or the act of participation in such activity, to concealing or disguiseing illicit origin of the property or to assist a person involved in carrying out such action in order to avoid legal consequences of their conduct;
2. concealment or disguise the nature, source, location, movement or rights with respect to property acquired from criminal activity or the act of participation in such activities;
3. acquisition, possession, holding or use of property with knowledge at the time of receipt, it is acquired by criminal activity or the act of participation in such activities;
4. participation in any of the actions in paragraphs 1 - 3 or association for the purpose of such action, attempting to carry out such action and support, instigation, to facilitate the commission of such action or its disguise.

2. Sanctions for money laundering offence.

Different, depends on the case.


3. (Legal) professions especially affected by local AML/CTF legislation.

Yes


4. Specific regulations imposed upon attorneys at law.

There are regulations in the Law on Measures against Money Laundering that affect the lawyers /attorneys at law/ in some cases of legal consultations.


b)  Bar Association

1. Directives – formulated by the Bar Association – guiding the interpretation of the legislation and the force of these directives (binding, guideline,…).

-


2. Causes for discussion at the implementation stage of the European Directive in local legislation especially in relation to a possible conflict between this legislation and your professional code of ethics?

Bulgarian legislation is fully synchronised with the EU legislation, but taking into account that each EU country has its own domestic legislation, it is possible that such a conflict appears in every EU country.


3. Any action taken by the local Bar Association against the way in which the European directive was implemented in local legislation?

The Supreme Bar Council of Bulgaria has undertaken all possible measure to avoid such conflicts within a frame of mutuality and reciprocity, taking into account Bulgarian and EU legislation.


4. Other bodies that have undertaken any form of action to safeguard the rights of their members in this respect.

It is arranged in the Bar Act /last amendments published in State Cassette 69, 5 Aug. 2008/.


c)  Legal practice

1. Particularities that foreign attorneys at law in contact with the local legal system should be aware of / recommendations to be taken into consideration?

The foreign attorneys at law must be registered under the Bar Act and have Bulgarian lawyers as partners, as there are some specifications.
Foreign lawyer can have legal practice in Bulgaria, under the regulations of the Bar Act last amendments published in State Cassette 69, 5 Aug. 2008/, which are related mainly to registration in the Court register, participate/represent  in a trial jointly with a Bulgarian attorney at law, ban on advertising etc.
Decision of the Commission for the Protection of Competition (CPC) № 626 from 22 July 2008 defined the frames which must be kept by  the foreign attorneys at law /law firms/ , how they should register and refers to the Bulgarian Bar Act.

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The ECBA maintains this website to provide and disseminate information on criminal procedure in the EU with regard to national money laundering legislation as it applies to attorneys at law. The content of the website relies on contacts in each jurisdiction and although our aim is to keep this information accurate, the ECBA does not warrant or assume any legal liability or responsibility for the accuracy, completeness, or reliability of the content. This information does not constitute legal advice. If errors are brought to our attention, we will try to correct them.
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Last Updated ( Tuesday, 18 January 2011 )