Financial Crime World

Combating Terrorist Financing Methods in Moldova: Progress and Partnerships

Moldova has made significant strides in reducing its vulnerability to money laundering and terrorism financing, thanks in part to the efforts of the Office for Prevention and Combating of Money Laundering (Financial Intelligence Unit). This article explores the FIU’s progress and partnerships in combating terrorist financing methods.

The Role of the Financial Intelligence Unit

The FIU plays a critical role in coordinating between the financial sector, law enforcement agencies, and specialized professional services. As a national center for financial data collection, analysis, and dissemination, the FIU has been at the forefront of efforts to reduce Moldova’s vulnerability to money laundering and terrorism financing.

Key Activities

  • Coordinating with the financial sector, law enforcement agencies, and specialized professional services
  • Collecting, analyzing, and disseminating financial data
  • Identifying complex schemes and typologies of money laundering and terrorism financing

International Recognition and Partnerships

The FIU’s efforts have been recognized by MONEYVAL Committee experts, who praised Moldova’s success in countering money laundering and terrorism financing. The office actively cooperates with similar authorities within international organizations such as:

  • EGMONT Group
  • MONEYVAL
  • Euro-Asiatic Group
  • Europol
  • GUAM

National Strategy and Action Plan

Moldova has promoted a unified government policy to prevent and combat money laundering and terrorist financing since 2007. The National Strategy for prevention and combating of money laundering and terrorist financing for the years 2013-2017 and the Action Plan adopted by Law no. 130 from June 6, 2013, outline the country’s approach to this issue.

Key Objectives

  • Prevention and combating of money laundering
  • Prevention and combating of terrorism financing
  • Strengthening the local system of prevention and combating of money laundering and financing of terrorism

European Agenda and Visa Liberalization

The FIU’s efforts have led to significant progress in building and strengthening the local system of prevention and combating of money laundering and financing of terrorism, making it a major obstacle for criminals seeking to use financial institutions for illicit activities. Moldova has also promoted a unified government policy to prevent and combat money laundering and terrorist financing since 2007.

Key Achievements

  • Significant progress in building and strengthening the local system of prevention and combating of money laundering and financing of terrorism
  • Major obstacle for criminals seeking to use financial institutions for illicit activities

International Cooperation and Information Sharing

In addition to its domestic efforts, Moldova has established 43 cooperation memoranda with similar authorities in other countries, highlighting its commitment to international collaboration and information sharing. This approach demonstrates the country’s dedication to combating terrorist financing methods and promoting financial stability in the region.

Key Partnerships

  • EGMONT Group
  • MONEYVAL
  • Euro-Asiatic Group
  • Europol
  • GUAM