Moldova boosts AML/CFT efforts with EU cooperation
The Republic of Moldova is enhancing its capabilities in preventing money laundering and terrorist financing through cooperation with the European Union, according to a press release from the National Bank of Moldova (NBM).
On Monday, a workshop took place focusing on aligning Moldova's legislative and institutional framework for AML/CFT (Anti-Money Laundering and Counter-Terrorist Financing) with European Union standards.
Representatives from the NBM and the Service for Prevention and Combating Money Laundering attended the workshop. Its main goal was to offer a practical platform for strengthening institutional capacities in AML/CFT. The workshop also discussed ways to improve processes for identifying and recovering assets obtained from criminal activities.
NBM First Vice-Governor Petru Rotaru highlighted the importance of international cooperation and European assistance in aligning with the acquis communautaire. He emphasized that ongoing support from European partners is crucial for Moldova to adopt the best European practices and effectively implement its legislative framework for preventing money laundering and terrorist financing.
According to the cited source, the discussions included an analysis of recent provisions in European legislation, particularly Directive (EU) 2024/1640 and Regulation (EU) 2024/1624, which introduce new requirements for strengthening the national legal framework. Participants evaluated the extent to which Moldovan legislation requires adjustment to fully comply with these standards.
"The Directive includes essential elements concerning beneficial owner reporting and inter-institutional cooperation. By consolidating our efforts, we've demonstrated our ability to facilitate this exchange of experience, and the National Bank of Moldova remains deeply committed to improving the legal framework," the NBM official stated.
First Vice-Governor Petru Rotaru also highlighted significant progress made by the Republic of Moldova, such as its integration into the European SEPA payment system, which reflects enhanced financial integrity for the country. He also highlighted the recent positive report from the MONEYVAL Committee, which confirms substantial improvements in the area of preventing money laundering and terrorist financing.
The workshop was organized as part of the EU and Council of Europe's "Partnership for Good Governance" program, which supports Eastern Partnership countries in combating economic crime at both national and regional levels, the source states.
Translation by Iurie Tataru
