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| People queuing to update personal information at a bank in Sofia |
If you haven't updated your personal information with your bank in 12 months, your bank may block your account.
Yesterday, the Bulgarian Parliament voted on amendments to the anti-money laundering law.
If you don't update your bank account information, your bank may stop lending you money. In some cases, this may mean that you would have to go without money.
We have to visit the bank branch personally to certify the information with our signature.
Manoil Manev from the GERB party announced that there are already blocked accounts. This means that the accounts have been blocked by the government because they are associated with illegal or criminal activity.
People who are overseas and in a di
fferent country are having trouble paying their hotel bills because their bank accounts are blocked until Monday, local media say.
fferent country are having trouble paying their hotel bills because their bank accounts are blocked until Monday, local media say.
Since you and I are not required to visit a bank branch every year to confirm our obligations under the anti-corruption law, the bank can close our accounts right away if we don't sign a declaration confirming our obligations.
The Law on Measures Against Money Laundering requires banks to keep track of their customers so that they can identify any suspicious activity. Banks do this by updating their information on a partial basis, but it is important for customers to visit a bank counter in person so that there are no surprises.