Financial Crime World

Implementing Anti-Money Laundering and Combating Terrorism Financing Measures in Moldova

International Cooperation and Compliance

Moldova has ratified several key international conventions related to anti-money laundering (AML) and combating the financing of terrorism (CFT), including:

  • Vienna Convention: A cornerstone treaty for preventing the laundering of proceeds from crime
  • Palermo Convention: A comprehensive framework for cooperation against transnational organized crime, which includes provisions on money laundering
  • Financial Action Task Force (FATF) Recommendations: Global standards for combating ML/FT

National Legislation and Implementation

The country has made significant progress in aligning its national legislation with international conventions:

  • Article 243 of the Criminal Code: Amended in 2007 and 2008 to strengthen anti-money laundering criminal provisions
  • Transposition of Conventions: Moldova has ratified the Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime (ETS 141) and the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism (CETS 198)

Coordination and Information Exchange

The National Strategy for the prevention and combating of ML/FT establishes a framework for coordination among authorities:

  • Basis for Coordination: Outlines the roles and responsibilities of different agencies in the AML/CFT sphere
  • Information Exchange: Ensures that relevant information is shared between agencies to prevent and combat ML/FT

Technical Assistance Needs

To address the request for technical assistance, the following areas require additional support:

Types of Technical Assistance Required

  • Training: Enhance knowledge and skills among law enforcement and judicial authorities
  • Capacity Building: Develop institutional capacity to effectively implement AML/CFT measures
  • Equipment: Provide necessary tools and resources to support AML/CFT efforts

Agencies or Organizations for Technical Assistance

  • International Partners: Leverage expertise from organizations such as the FATF, IMF, and World Bank
  • Regional Bodies: Collaborate with regional organizations like the European Union and Council of Europe

Existing Partnerships and Collaborations

  • Leverage Resources: Identify existing partnerships that can provide resources and expertise to support AML/CFT efforts
  • Enhance Collaboration: Strengthen relationships with international partners to ensure effective implementation of AML/CFT measures