Bosnia faces slower payments over money-laundering controls

Bosnia and Herzegovina faces slower and more expensive international payments after being put back on a global financial watchlist.

The Financial Action Task Force added Bosnia to its list of countries with weak controls against money laundering and terrorist financing.

That means banks are likely to carry out extra checks on money sent to and from Bosnia.

Business groups and banking officials warn the move could raise costs for exporters, importers and families who rely on money sent from relatives abroad.

Bosnia receives about €2.2bn a year from its diaspora.

The country was previously on the watchlist from 2015 to 2018.

Officials have blamed each other for failing to pass and enforce rules on financial transparency.