Featured Bulgaria

In systemic breach, hackers steal millions of Bulgarians’ financial data

Bulgaria’s finance minister apologized to the country on Tuesday after admitting hackers had stolen millions of taxpayers’ financial data in an attack that one researcher said may have compromised nearly every adult’s personal records. The breach of servers at the tax agency (NRA) happened at the end of June and… Read More

Credit Suisse Probed over Alleged Money Laundering

Credit Suisse is ensnared in a Swiss criminal probe into alleged money laundering involving a criminal organization and the illegal drug trade. The Swiss attorney general has named the investigation “Bulco”: prosecutors are investigating alleged money laundering by a criminal organization, weekly Schweiz am Wochenende (in German) reported. The… Read More

EU Recommends AML Measures for Six Countries

The European Commission on Wednesday called on six EU member-states to bolster their anti-money laundering (AML) supervisory and enforcement efforts in light of recent bank scandals and the risks of crypto-assets. The requests highlight recent efforts by Denmark, Estonia, Latvia, Bulgaria, Sweden and Malta… Read More
15th May 2019
Bulgarian Agriculture Minister Rumen Porozhanov resigned on Tuesday, the latest high-level official to step down in scandals involving purchases of luxury properties and the building of guest houses with EU aid for private use. Porozhanov quit two weeks after prosecutors launched a large-scale probe into possible fraud with EU rural… Read More
30th November 2018
AP — A key broker of the latest deal to end South Sudan’s civil war diverted European weapons to South Sudan’s military despite an EU arms embargo, a new report says. It also asks how a U.S. military jet ended up deployed in South Sudan… Read More
6th November 2018
Bulgaria has seized more than $1.35 million in fake banknotes and charged three men suspected with membership of an organised crime ring making counterfeit bills, prosecutors said on Monday. The three were arrested in the Black Sea city of Varna after printing presses and equipment for the production of counterfeit… Read More
25th October 2018
Police have seized millions of fake euros and a high number of US dollars that were produced in an illegal print shop located in the basement of a hotel. The stash comprised EUR 11 million and USD 1.7 million in counterfeit 50, 100 and 500 euro banknotes, as well as… Read More
9th October 2018
AP — Bulgarian police are investigating the rape and slaying of a female television reporter whose body was dumped near the Danube River after she reported on the possible misuse of European Union funds in Bulgaria. Authorities discovered the body of 30-year-old Viktoria Marinova on Saturday… Read More
25th January 2018
Bulgaria’s former intelligence chief Kircho Kirov was sentenced to 15 years in jail on Tuesday for what prosecutors described as the misappropriation of 5.1 million levs (£2.28 million) of public funds between 2007 and 2011. It was the second verdict against Kirov, who is already appealing a 10-year prison sentence… Read More
25th January 2018
The Bulgarian government on Thursday survived a parliamentary vote of no-confidence brought by the opposition Socialists over what they said was a lack of progress in fighting rampant corruption. Some 103 deputies in the 240-seat parliament voted in favour of the first no-confidence vote against the centre-right coalition cabinet… Read More
19th January 2018
Bulgaria’s parliament is working towards enforcing the Measures Against Money Laundering [law], mandated by the EU Fourth Anti Money Laundering Directive (4AMLD). The Bill, which is currently going through its second hearing, has categories that are broader than those in the 4AMLD, and includes topics like general and… Read More
2nd January 2018
Bulgarian President Rumen Radev on Tuesday vetoed anti-graft legislation passed by parliament in December, saying the bill would not allow the efficient investigation of corruption networks. Radev acted only a day after Bulgaria, the European Union’s poorest country, assumed the six-month, rotating presidency of the bloc. It is the… Read More
29th December 2017
Music will play, fireworks will explode and shimmer; then at the stroke of midnight on 1 January, Bulgaria, the poorest and “most corrupt” country in the European Union, will pick up the baton of the bloc’s rotating presidency. The presidency – chairing EU meetings and setting an agenda – does… Read More