Financial Crime World

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International Cooperation Boosts Fight Against Financial Crime in Moldova

Strengthening Financial Sector Resilience through Training and Collaboration

Chisinau, Moldova - In a significant step towards enhancing the resilience of the financial sector, over 200 professionals gathered for the third Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) training organized by the National Commission for Financial Markets and USAID Moldova’s Financial Sector Transparency Staff.

Keynote Address: The Threat of Money Laundering

In her keynote address, Cornelia Cozlovschi, Chairwoman of the National Commission for Financial Markets, emphasized the importance of combating money laundering in today’s economy. She underscored that:

  • Money laundering and terrorist financing risk are a key concern for the financial system and citizens’ security.
  • Combating money laundering is an essential way to fight corruption and illegal income.

USAID FSTA Project Initiatives

Matthew Macellaro, Director of the USAID FSTA Project, highlighted the initiatives supported by his project to improve Moldova’s financial sector transparency and efficiency through:

  • Implementation of state-of-the-art IT solutions
  • Staff training
  • Legal framework adjustments

He warned that strengthening AML/CFT compliance capabilities is a priority for the project.

FIU Support and National Cooperation

Andrian Munteanu, deputy director of the Office for Prevention and Fight against Money Laundering (FIU), welcomed participants and emphasized the need for an effective AML/CFT system and adjustments to the regulatory framework in line with international standards. He highlighted:

  • The importance of national authorities working closely with reporting entities through adapted trainings
  • Increasing effectiveness, developing capacities, promoting national and international cooperation
  • Developing a national mechanism for supervising reporting entities

Event Highlights and Conclusion

The training featured panel discussions and presentations on various current topics, including:

  • Trends and developments in AML/CFT regulation
  • Transaction monitoring
  • Red flags
  • Industry expectations from authorities
  • New provisions regarding remote customer identification (e-KYC)

Participants actively engaged in discussions and asked questions about the new amendments.

The event concluded with an award ceremony, where participants received certificates for completing the three trainings. The AML/CFT training series was launched by the National Commission for Financial Markets and USAID Moldova’s Financial Sector Transparency Activity to strengthen the capacities of professionals working in the field and prevent financial crime effectively.