Financial Crime World

Compliance Training for Financial Institutions Underway Amid EU Support

Moldova’s financial institutions are receiving crucial compliance training to enhance their resilience, thanks to the European Fund for Southeast Europe (EFSE) and other partners.

Program Overview

The “Resilience within Financial Institutions. AML Training Program” is a comprehensive program aimed at bolstering the skills of compliance and anti-money laundering (AML) professionals in Moldova’s banking and non-banking credit organizations. The program is structured across eight modules, with the sixth module recently concluding.

Module 6: Risk Assessments for Money Laundering, Terrorist Financing, and Sanctions

The sixth module, which took place from January 1 to February 4, focused on “Risk Assessments for Money Laundering, Terrorist Financing, and Sanctions.” Expert speakers Ludmila Costin and Cristina Pop from PwC Romania’s Financial Crime and Forensics department guided participants through various topics.

Sub-Topics Covered

  • The purpose of assessing risk for sanctions and terrorist financing
  • General frameworks
  • Risk assessment methodologies
  • Risk matrices with interpretations of results

Program Participants

The training program brought together over 40 representatives from financial institutions, big companies, small microcredit companies, ASEM, and USM teachers.

Goal of the Program

The overarching goal of the “Resilience within Financial Institutions. AML Training Program” is to enhance the skills of compliance and anti-money laundering (AML) professionals in Moldova’s banking and non-banking credit organizations, thereby boosting the general level of expertise in the financial sector.

Next Module

The next module is set to explore further topics essential for maintaining a robust AML framework within Moldovan financial institutions. With international and regional experience, the trainers will guide participants through the latest developments in compliance training.

Partners

  • EBA Moldova
  • National Bank of Moldova
  • European Fund for Southeast Europe (EFSE)
  • PwC Moldova