Moldova Strengthens Anti-Money Laundering Regime

The Republic of Moldova has made significant strides in its fight against money laundering and terrorist financing. In a recent evaluation by the Financial Action Task Force (FATF), the country has improved its rating for several key anti-money laundering (AML) recommendations.

Improved Compliance Ratings

Following the adoption of Moldova’s Mutual Evaluation and 1st Follow-Up report, the FATF has upgraded its technical compliance ratings for:

• Recommendation 6: Upgraded from Partially Compliant to Largely Compliant
• Recommendation 7: Upgraded from Partially Compliant to Largely Compliant
• Recommendation 15: Re-rated from Non-Compliant to Partially Compliant

Key Progress Made

This upgrade marks a notable shift towards improving Moldova’s AML/CFT regime, with:

34 out of the 40 FATF Recommendations now rated as Largely Compliant or Compliant Significant progress made in strengthening the country’s anti-money laundering and combating the financing of terrorism (AML/CFT) measures

Areas for Improvement

However, six recommendations remain rated as Partially Compliant:

• R.8: Subject to Partial Compliance
• R.15: Re-rated from Non-Compliant to Partially Compliant
• R.22: Subject to Partial Compliance
• R.24: Subject to Partial Compliance
• R.25: Subject to Partial Compliance
• R.38: Subject to Partial Compliance

Enhanced Follow-Up and Future Progress

The Republic of Moldova will continue to be subject to enhanced follow-up by the FATF’s Money Laundering Consultative Body (MONEYVAL), with a report due in one year’s time. The country is expected to provide a detailed update on its progress towards strengthening its AML/CFT measures, demonstrating its commitment to meeting international standards and combating financial crimes.