Đorđe Dimitrijević, counsel at Dimitrijević & Partners wrote an insightful article for CEE Legal Matters.
A newly published legal review highlights the serious implications of denying bank accounts to business entities in Bosnia and Herzegovina. While banks have the authority under the Anti-Money Laundering Law to refuse or close accounts when they cannot effectively manage AML risks, this right is not absolute.
The analysis warns that arbitrary or overly cautious refusals—especially when clients are labeled “high-risk” without violating any laws—could lead to violations of property rights protected by the European Convention on Human Rights. In some cases, this may expose banks to legal liability and compensation claims.
The review also raises concerns about potential discrimination, particularly when entire sectors (e.g., cryptocurrency businesses) are denied access without clear legal grounds. This practice may conflict with both the Constitution of Bosnia and Herzegovina and international human rights standards.
As financial institutions work to comply with AML obligations, the report urges a balanced and lawful approach to client risk assessment—one that respects fundamental rights and ensures fair access to essential banking services.
To reed full article, please follow the link.