Moldova Takes Steps to Prevent Financial Crime

Strengthening Efforts Against Money Laundering and Terrorism Financing

The Republic of Moldova is making significant strides in preventing and combating financial crime, including money laundering and terrorism financing. At the forefront of these efforts is the Office for Prevention and Combating of Money Laundering (Financial Intelligence Unit), a national center responsible for collecting, analyzing, and disseminating financial data.

A National Center of Excellence

Established in 2003, the Financial Intelligence Unit has made substantial progress in establishing a regulatory framework that meets both national and international standards. With the support of international partners, the unit has received substantial resources to enhance its capacity and operational independence.

Key Achievements:

• Established a robust regulatory framework meeting national and international standards
• Received significant resources for capacity building and operational independence

International Recognition and Cooperation

The Financial Intelligence Unit’s efforts have been recognized by MONEYVAL Committee experts from the Council of Europe, who praised Moldova’s commitment to combating financial crime. The unit actively cooperates with similar authorities worldwide, including those in the EGMONT Group, MONEYVAL, Euro-Asiatic Group, Europol, and GUAM.

Partnerships:

• MONEYVAL Committee (Council of Europe)
• EGMONT Group
• Euro-Asiatic Group
• Europol
• GUAM

National Strategy to Combat Financial Crime

Moldova has also developed a national strategy to prevent and combat money laundering and terrorism financing, which was adopted by law in 2013. The Strategy sets out a framework for cooperation among government agencies and identifies the Office as the central authority responsible for presenting national developments in the field.

Key Components:

• Framework for cooperation among government agencies
• Identification of the Office as the central authority

Progress in Combating Financial Crime

The efforts of the Financial Intelligence Unit and its partners have led to significant progress in building and strengthening Moldova’s system for preventing and combating financial crime. This has made it increasingly difficult for criminals to use the country’s financial institutions to launder money or finance terrorism.

Impact:

• Increased difficulty for criminals to launder money or finance terrorism
• Strengthening of Moldova’s system for preventing and combating financial crime

European Agenda and Commitment to Combating Financial Crime

Moldova’s commitment to combating financial crime is reflected in its European agenda, including the negotiation of an Association Agreement with the EU and a national action plan on visas liberalization. These efforts are essential for promoting the stability of Moldova’s financial system and preventing financial crime from undermining economic development.

European Agenda:

• Negotiation of an Association Agreement with the EU
• National action plan on visas liberalization