Council of Europe Boosts Romania’s Financial Crime Fighting Capabilities with Training Sessions
Training Session for Romanian Authorities
Bucharest, Romania – In an ongoing mission to strengthen Romania’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework, the Council of Europe Economic Crime and Cooperation Division (ECCD) provided essential support and training to the country’s competent authorities.
Two-day Training Course
From July 6-7, 2022, the ECCD organized a two-day training course in Bucharest for thirty-one representatives from the following institutions:
- Romanian Financial Intelligence Unit (FIU)
- Romanian Police
- General Prosecutor’s Office
International Standards and Money Laundering Investigations
The training session began with an introduction to relevant international standards regarding money laundering offenses. Emphasis was placed on conducting stand-alone money laundering investigations as required by the EU Directive on Combating Money Laundering by Criminal Law (2018/1813).
Practical Financial Investigation Techniques
During the course, attendees gained practical knowledge on how to collect and develop evidence during financial investigations. In the second part of the session, participants worked on and analyzed case scenarios, applying the financial investigation techniques presented by trainers and collaborating closely with representatives from all institutions involved.
Empowering Romania in Strengthening AML/CFT Regulations
This initiative is part of a broader effort by the Council of Europe to help Romania strengthen its AML/CFT regulations. The organization plans to further bolster the country’s capabilities in financial investigations to ensure a sustainable framework.
“Money Laundering and Terrorism Financing Risk Compliance” Programme
The training was organized under the Structural Reform Support Programme titled “Money Laundering and Terrorism Financing Risk Compliance: Implementing a National Mechanism to Assess and Manage Money Laundering and Terrorism Financing Risks in Romania.” The programme is funded by the European Commission’s Directorate-General for Structural Reform Support and the Council of Europe.
Important Step Forward in Romania’s Fight Against Financial Crime
This event marks another important step forward in Romania’s ongoing fight against financial crime. By enhancing the skills and knowledge of its competent authorities, the country is well-positioned to further improve its AML/CFT capabilities and combat money laundering and terrorist financing effectively.