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Fraud recovery in Bosnia and Herzegovina operates through three parallel channels: criminal proceedings initiated through the Policija (Police) or Državna agencija za istrage i zaštitu (SIPA / State Investigation and Protection Agency) and the competent Tužilaštvo (Prosecutor’s Office), civil litigation before entity civil and commercial courts, and regulatory complaints to the relevant entity supervisory authority. Bosnia and Herzegovina does not have a single unified financial regulator – supervisory jurisdiction over investment firms, forex platforms, and banks is divided between the Federation of Bosnia and Herzegovina (FBiH) and Republika Srpska (RS), each with its own Securities Commission and Banking Agency. The Centralna banka Bosne i Hercegovine (CBBH / Central Bank of Bosnia and Herzegovina) coordinates entity banking agencies but does not replace them as licensing and supervision authorities. Recovery outcomes depend on the fraud type, the entity where the fraud occurred or the counterparty is registered, the speed of criminal complaint filing, the identifiability and asset position of the fraudster, and whether institutional liability claims are available against regulated entities.
Investment firms, brokers, investment funds, and management companies are regulated at the entity level. In the Federation of Bosnia and Herzegovina, the competent authority is the Komisija za vrijednosne papire Federacije Bosne i Hercegovine (Securities Commission of the Federation of Bosnia and Herzegovina), which maintains registers and regulates the securities market and capital market participants. In Republika Srpska, the competent authority is the Komisija za hartije od vrijednosti Republike Srpske (Securities Commission of the Republic of Srpska), which licenses and supervises securities market participants, investment funds, and management companies.
Where an investment company, fund, intermediary, or unlicensed entity offered investment products or services in violation of applicable securities law, complaints are filed with the relevant entity Securities Commission. For criminal fraud – misappropriation of invested funds, false representations about returns, Ponzi structures, or fabricated investment products – a criminal complaint is filed with the Police and referred to the competent Prosecutor’s Office. At the state level, the Tužilaštvo Bosne i Hercegovine (Prosecutor’s Office of Bosnia and Herzegovina) handles cases involving organised crime, financial crime, and cybercrime elements. SIPA participates in investigations at the state level.
Bosnia and Herzegovina does not have a unified crypto regulator in the MiCA format at the national level. For AML/CFT purposes, the competent state-level authority is the Financial Intelligence Department (FID) of SIPA (Finansijsko-obavještajni odjel SIPA) – Bosnia and Herzegovina’s sole Financial Intelligence Unit.
Where crypto fraud involves money laundering indicators – suspicious flows, layering through wallets or exchanges, or concealment of proceeds – reports are filed with SIPA’s Financial Intelligence Department. For crypto scams, wallet theft, fake exchanges, or fake investment platforms, criminal complaints are filed with the Police and referred to the competent Prosecutor’s Office. The Prosecutor’s Office of Bosnia and Herzegovina handles cases with cybercrime elements within its competence. Where a crypto offering is disguised as a securities or investment product, the relevant entity Securities Commission is notified.
Forex and CFD platforms operating as investment service providers fall under the supervisory authority of the relevant entity Securities Commission – the Securities Commission of the Federation of Bosnia and Herzegovina in FBiH, and the Securities Commission of the Republic of Srpska in RS.
Where a forex or CFD provider claims a licence or operates as an investment services provider, complaints are filed with the relevant entity Securities Commission. For fraud involving manipulated platforms, blocked withdrawals, boiler room operations, or fake account managers, criminal complaints are filed with the Police and referred to the competent Prosecutor’s Office.
Bosnia and Herzegovina does not have a unified national regulator for the real estate sector. Cadastral and property registration functions are handled at the entity level. In the Federation of Bosnia and Herzegovina, the competent authority is the Federalna uprava za geodetske i imovinsko-pravne poslove (Federal Geodetic Administration). In Republika Srpska, the competent authority is the Republička uprava za geodetske i imovinsko-pravne poslove (RUGIPP/RGURS / Republic Administration for Geodetic and Property Affairs).
Where fraud involves fake sales, double sales, forged title documents, deposit fraud, or rental scams, criminal complaints are filed with the Police and referred to the competent Prosecutor’s Office. Where the issue concerns cadastral records, parcel data, property records, or title inconsistencies, the relevant entity geodetic administration is consulted. Civil proceedings for recovery of deposits, nullity of fraudulent transactions, damages, or title disputes are brought before the competent civil court.
Where an international transaction with a company from Bosnia and Herzegovina results in fraud – non-delivery, document fraud, payment diversion, or a fictitious supplier – criminal complaints are filed with the Police. For cross-border schemes involving organised crime, financial crime, or offences within state jurisdiction, SIPA participates in the investigation and the Prosecutor’s Office of Bosnia and Herzegovina handles prosecution.
Civil proceedings for contractual recovery, damages, and restitution are brought before the civil or commercial court of the relevant entity. Where the counterparty is a regulated financial company, the relevant entity Securities Commission or Banking Agency is notified.
Where a company in which funds were invested enters insolvency and there are indicators of fraudulent bankruptcy – concealment of assets, sham insolvency, diversion of assets, or false accounting – insolvency and bankruptcy proceedings are administered by the competent court of the relevant entity.
Criminal complaints for fraudulent bankruptcy, concealment of assets, and false accounting are filed with the Police and referred to the competent Prosecutor’s Office. Where the scheme involves organised economic crime within state competence, the Prosecutor’s Office of Bosnia and Herzegovina and SIPA handle the case. For first-instance criminal reporting, the Police or SIPA are the primary contacts.
Where a buyer made prepayment and received no goods or services – and the supplier acted with deception from the outset – criminal complaints are filed with the Police and referred to the competent Prosecutor’s Office. Civil proceedings for recovery of the prepayment, contractual damages, and interest are brought before the civil or commercial court of the relevant entity.
Where the dispute involves trade or consumer issues, entity market and inspection bodies may be consulted. In Republika Srpska, the Republička uprava za inspekcijske poslove (Inspectorate of Republika Srpska) handles trade inspection matters.
Phishing, online fraud, identity theft, and related cyber incidents are reported to the Police as the primary law enforcement body for online fraud in Bosnia and Herzegovina. For cases at the state level, SIPA’s Criminal Investigation Department handles the investigation – SIPA operates a Crimestoppers line (080 020 505) for reporting. The Prosecutor’s Office of Bosnia and Herzegovina handles cases with cybercrime elements within its competence.
Where phishing resulted in compromised bank credentials or unauthorised transactions, the servicing bank or financial institution must be contacted immediately. The CBBH confirms that the first step is to contact the bank or financial institution directly.
Where a company in which funds were invested engaged in fraudulent financial reporting – false financial statements, accounting fraud, deception of investors, or concealment of income – criminal complaints are filed with the Police or SIPA and referred to the competent Prosecutor’s Office.
If the company is within the supervised capital market perimeter, the relevant entity Securities Commission is notified. Civil proceedings for investor damages are brought before the competent civil court. In Republika Srpska, the Accounting and Auditing Council of the Republic of Srpska exercises functions related to accounting and auditing standards under RS law.
Romance scams and social media fraud – including impersonation, fabricated identities, emotional manipulation for financial extraction, and online extortion – are reported to the Police for formal criminal complaints. Where the case involves organised or cross-border crime, SIPA participates in the investigation. The competent Prosecutor’s Office handles criminal prosecution.
Where funds were transferred through bank accounts in Bosnia and Herzegovina, the servicing bank should be contacted immediately to flag the receiving accounts and initiate internal fraud procedures.
Banking supervision in Bosnia and Herzegovina is divided between two entity agencies. In the Federation of Bosnia and Herzegovina, the competent authority is the Agencija za bankarstvo Federacije Bosne i Hercegovine (FBA / Banking Agency of the Federation of Bosnia and Herzegovina). In Republika Srpska, the competent authority is the Agencija za bankarstvo Republike Srpske (ABRS / Banking Agency of Republika Srpska). The Centralna banka Bosne i Hercegovine (CBBH) coordinates entity banking agencies but does not replace them as licensing and supervisory authorities for banks.
The first step in any banking or card fraud matter is immediate notification to the servicing bank or financial institution. The CBBH confirms that clients must first contact their bank directly – banks are required to accept and process complaints. Where the bank fails to resolve the complaint adequately, the matter is escalated to the FBA (for banks in FBiH) or ABRS (for banks in RS). Criminal complaints for card fraud, account takeover, or unauthorised transfers are filed with the Police and referred to the competent Prosecutor’s Office.
Report the fraud to the competent Police authority immediately. For cases involving organised crime, financial crime, or cybercrime at the state level, SIPA is the competent investigative body – reachable through its Crimestoppers line (080 020 505) and Criminal Investigation Department. Provide all available evidence: contracts, payment records, communications, transaction references, and identity information for the counterparty.
If the fraud involves an investment firm or forex platform, notify the relevant entity Securities Commission. If it involves a bank, notify the FBA (in FBiH) or ABRS (in RS). If money laundering is suspected, notify SIPA’s Financial Intelligence Department. Regulatory notification creates an enforcement record and may trigger supervisory investigation of the entity’s compliance with applicable financial law.
Contact your bank or financial institution immediately to restrict compromised accounts and initiate recall or chargeback procedures for fraudulent transactions. The CBBH confirms that the bank is the first point of contact for compromised accounts and unauthorised transactions.
Identify whether the counterparty is registered in the Federation of Bosnia and Herzegovina or Republika Srpska. This determines which entity regulators, courts, and prosecutors have jurisdiction. Check the counterparty’s registration status and any insolvency proceedings through entity company registers and cadastral records.
Save all communications, contracts, invoices, payment confirmations, website screenshots, email headers, and transaction records without alteration. Digital evidence is critical for both criminal investigation and civil proceedings and may become inaccessible if platforms delete accounts or the counterparty destroys records. Evidence preservation should begin immediately upon discovery of the fraud.
Criminal complaints filed with the Police or SIPA and referred to the competent Prosecutor’s Office initiate formal investigation. At the state level, the Prosecutor’s Office of Bosnia and Herzegovina handles organised crime, financial crime, and cybercrime cases. Entity prosecutors handle fraud within their territorial jurisdiction. Criminal proceedings provide access to investigative tools unavailable in civil litigation – bank record production orders, platform identity disclosure, telecommunications data, and international judicial cooperation through mutual legal assistance channels.
Civil proceedings before entity civil and commercial courts are available for contractual claims, damages, restitution, unjust enrichment, and nullity of fraudulent transactions. Asset attachment and preservation orders can be obtained to prevent dissipation of assets during proceedings. Civil litigation targets the fraudster and, where applicable, institutions that failed to prevent the fraud – including claims against banks for breach of their obligations.
Complaints to entity Securities Commissions, the FBA, ABRS, or SIPA’s Financial Intelligence Department create enforcement records that contribute to supervisory action against the entity. Regulatory proceedings can result in licence suspension or revocation, fines, and mandatory corrective measures. Regulatory findings may support civil claims by establishing that the entity breached its supervisory obligations.
Criminal complaints filed within hours of discovery give investigators the best chance of tracing funds before they are moved or layered through intermediary accounts. Bank recall mechanisms are most effective when initiated on the same day as the fraudulent transaction. Regulatory notifications filed promptly create contemporaneous records that strengthen both criminal and civil proceedings.
Bosnia and Herzegovina’s divided regulatory and judicial structure means that identifying the correct entity – Federation of Bosnia and Herzegovina or Republika Srpska – is a prerequisite for effective filing. Complaints directed to the wrong entity regulator, prosecutor, or court face jurisdictional delays. Early identification of the counterparty’s registration and the entity where the fraud occurred is critical for procedural efficiency.
Named counterparties with identifiable assets in Bosnia and Herzegovina – bank accounts, real property, registered companies – are the most viable targets for civil recovery and enforcement. Where the fraudster operated anonymously or through shell structures, criminal investigation through the Police, SIPA, and the Prosecutor’s Office is the primary identification tool through bank records, platform data, and telecommunications records.
Contracts, payment records, communications, transaction references, and digital forensic evidence form the foundation for both criminal prosecution and civil recovery. Incomplete evidence – missing transaction references, deleted communications, unrecorded oral agreements – weakens both the criminal case and the civil enforcement position. Immediate, comprehensive evidence preservation at the point of discovery is the single most important step a victim can take to support recovery.
Fraud recovery in Bosnia and Herzegovina operates through criminal proceedings, civil litigation, and regulatory complaints – each channel serving a distinct function in identifying the fraudster, preserving assets, and achieving financial recovery. Financial supervision is divided between the Federation of Bosnia and Herzegovina and Republika Srpska, each with its own Securities Commission and Banking Agency. The Prosecutor’s Office of Bosnia and Herzegovina handles organised crime, financial crime, and cybercrime at the state level. SIPA provides state-level investigation and houses the country’s sole Financial Intelligence Unit.
Speed of reporting determines outcomes across all channels. Criminal complaints filed immediately preserve the investigative window for fund tracing and asset identification. Bank recall mechanisms lose effectiveness with each day of delay. Identifying the correct entity jurisdiction – FBiH or RS – at the outset prevents procedural delays and misdirected filings. Evidence preserved at the point of discovery – contracts, communications, transaction records, digital forensic data – forms the foundation for every recovery action.
If you suffered financial losses through fraud involving companies, institutions, or counterparties in Bosnia and Herzegovina, contact Veritas Advisory Group to have your legal position assessed.
Veritas Advisory Group provides professional legal and advisory services to victims of investment and trade fraud in Europe. This article is for informational purposes only and does not constitute legal advice.
