Moldova Makes Progress in Anti-Money Laundering Training

The Republic of Moldova has made significant strides in its anti-money laundering (AML) training efforts, according to recent reports. As a result, several key recommendations have been re-rated by international authorities.

Recommendations Show Improvement

• Recommendation 6: Identification and Verification of Customers - Now classified as “Largely Compliant”, up from “Partially Compliant” previously.
• Recommendation 7: Implementation of Customer Due Diligence Measures - Also upgraded to “Largely Compliant” from “Partially Compliant”.
• Recommendation 15: International Cooperation and Information Sharing - Improved significantly, moving from “Non-Compliant” to “Partially Compliant”. These changes reflect the country’s progress in strengthening its AML/CFT measures.

Challenges Remain

Although Moldova still faces some challenges, with six recommendations remaining rated as “Partially Compliant”, the country is making strides towards improving its anti-money laundering regime. The 34 other recommendations are now classified as either “Largely Compliant” or “Compliant”.

Next Steps

As part of its enhanced follow-up process, Moldova will continue to report back to MONEYVAL on its progress in strengthening its AML/CFT measures. The country is expected to submit a further report within the next year, detailing its ongoing efforts to combat money laundering and terrorist financing.

By continuing to strengthen its anti-money laundering regime, Moldova demonstrates its commitment to preventing financial crimes and protecting its economy. With ongoing progress and reporting, the country is well on its way to achieving compliance with international standards.