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Mechanisms for Social Re-Use of Confiscated Assets Discussed with National Authorities in Republic of Moldova

A high-level meeting was held on March 27, 2024, in Chisinau, Republic of Moldova to discuss mechanisms for social re-use of confiscated assets as a crucial step in the fight against organized crime and corruption.

Participants and Objectives

The event brought together government representatives, national and international legal experts, civil society members, and development partners. The discussion aimed to enhance the framework for recovery and management of confiscated assets, ensuring that these funds are utilized in a socially responsible manner.

Project Overview

The meeting was part of the joint programme of the European Union and the Council of Europe “Partnership for Good Governance”, which runs from March 1, 2023 to February 28, 2026. The project is aimed at supporting Eastern Partnership countries in countering economic crime.

Project Objectives

  • Provide support to competent authorities in Moldova to enhance the effectiveness of measures against money laundering and terrorist financing.
  • Improve capacities of relevant institutions to recover illicit assets.

Project Beneficiaries

The project’s beneficiaries include:

  • General Prosecutor’s Office
  • Ministry of Internal Affairs
  • Ministry of Finance
  • Office for Prevention and Combatting Money Laundering
  • National Anticorruption Centre (Asset Recovery Office)
  • National Bank of Moldova
  • Public Services Agency
  • National Commission for the Financial Market
  • Designated Non-Financial Businesses and Professions
  • Financial institutions
  • Civil society
  • General public

Project Budget

The project’s total budget is EUR 510,000, with 80% co-funded by the European Union and 20% by the Council of Europe.

Alignment with International Obligations

The project will respond to current needs and deficiencies identified by MONEYVAL and the obligations contained in the European Commission Opinion on Moldova’s application for membership of the European Union. The project will also be aligned with the National Strategy and Action Plan for Preventing and Combating Money Laundering and Terrorist Financing 2020-2025, as well as future updates of strategic documents.

Conclusion

The meeting highlighted the importance of collaboration among stakeholders to effectively combat money laundering and terrorist financing, as well as recover and manage confiscated assets in a socially responsible manner.