site.btaGovernment, Business Outline Security Measures for Bulgaria’s Euro Adoption

The Bulgarian Industrial Capital Association (BICA) and the Interior Ministry presented concrete measures to ensure security during Bulgaria’s transition to the euro at a meeting at Sofia Balkan Palace Hotel on Thursday. The discussion brought together representatives of the National Police General Directorate (NPGD) and General Directorate Combating Organized Crime (GDCOC), the State Agency for National Security (SANS), the National Revenue Agency (NRA), the Ministry of Labour and Social Policy, the Customs Agency, Bulgarian Posts, as well as business and expert organizations to examine the potential risks and challenges associated with adopting the single European currency and the steps needed to address them. The event was opened by Deputy Interior Minister Filip Popov and BICA Chair Rumen Radev.

Addressing the event, BICA Chair Radev said that joining the Eurozone is not just an economic step but a long-term strategic choice that follows the logic of our European integration. “The benefits for Bulgarian businesses are clear and tangible – from eliminating currency risk and reducing exchange costs to easier integration into value chains and broader access to investment,” he explained.

Radev described the role of the Interior Ministry as crucial, both in maintaining public order and security and in preventing financial and cybercrime that could accompany the currency transition.

Deputy Minister Popov said the ministry was already implementing a detailed action plan to counter potential risks, including speculative behaviour, fraud, or destabilizing practices.

Representatives of the National Police stressed that the first months after the euro’s introduction carry an elevated risk of fraud, including counterfeit banknotes and coins, phone and online scams, fake exchange offices, and phishing campaigns. Preventive measures are already underway, including public awareness campaigns and monitoring of high-risk individuals. An informed public is the most effective defence against crime, they said.

The National Revenue Agency noted that it is taking all necessary steps to ensure a smooth transition to the euro. Vladimir Georgiev, a senior revenue expert in the NRA Control Directorate, said that the NRA has completed the required system updates and testing for document management and is fully prepared for the changeover. He also highlighted the active engagement of businesses and their readiness to comply with all legal requirements.

Deputy Labour and Social Policy Minister Ivan Krastev said his ministry’s campaign focuses on the most vulnerable population groups, aiming to reach as many citizens as possible. Special attention is being paid to helping people recognize fraud attempts, both through field work by ministry staff and through audio-visual materials distributed on social media.

The Customs Agency outlined its key responsibilities during the transition period, focusing on controlling cash movement across borders and combating money laundering and terrorist financing. New procedures have been introduced for temporarily detaining undeclared or suspicious funds, alongside stricter penalties including imprisonment, confiscation, and fines of up to 20% of the undeclared amount. The agency also emphasized its contribution to curbing the circulation of counterfeit banknotes and coins through active institutional cooperation.