Bulgaria has been removed from the so-called "grey list" of the Financial Action Task Force (FATF) for countries under enhanced surveillance. Former Minister of Justice Georgi Georgiev described the decision as a great success and linked it to the reforms carried out by the "Zhelyazkov" cabinet.
„A great success for Bulgaria, which I am personally proud of - Bulgaria was removed from the Grey List for money laundering today! Success has many fathers, but it is true that its mother is work and professionalism“, wrote Georgiev.
In its official decision, the FATF states that Bulgaria has made significant progress in improving the system for combating money laundering and terrorist financing. The organization reports on the implementation of the commitments under the action plan, due to which the country was placed under enhanced surveillance in October 2023.
What measures does FATF report
Among the indicated areas are the adoption of a comprehensive action plan on the national strategy, the elimination of remaining technical gaps and the introduction of risk-based supervision of money transfer operators, exchange offices and real estate agencies.
FATF also reports on the improvement of information on beneficial owners in the registers, automated prioritization of signals for suspicious transactions, as well as progress in the investigations and prosecution of various forms of money laundering, including large-scale corruption and organized crime.
The organization indicates that Bulgaria must continue to work with MONEYVAL to maintain improvements in its system.
What does Georgi indicate Georgiev
According to Georgiev, the removal from the list is the result of the assessment of reforms in the judiciary and in combating corruption and money laundering. He stated that he led the negotiations and reporting on progress to international partners from MONEYVAL and FATF.
The former Minister of Justice pointed out that in June 2026, MONEYVAL reported the implementation of all 40 mandatory measures by the spring of the year. After that, an on-site inspection was scheduled to assess the reforms undertaken and the readiness of Bulgarian institutions.
Georgiev also recalled the legislative changes of 2025. According to him, his team has prepared three packages of large-scale amendments to the Criminal Code and the Criminal Procedure Code, which were adopted by parliament. Their goal was to modernize the legislation and strengthen measures against money laundering, organized crime, corruption and terrorism.
Bulgaria was included in the FATF “gray list“ on October 27, 2023 due to identified strategic weaknesses in the system for combating money laundering and the financing of terrorism.
Georgiev thanked the teams of the Ministry of Justice, the Ministry of Finance and the Ministry of Interior, as well as the members of the 51st National Assembly. In his gratitude, he also included the magistrates of the Supreme Court of Cassation and the Prosecutor's Office, the employees of the National Revenue Agency and the State Agency “National Security“.