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Moldova Enhances Fight Against Money Laundering with Improved Beneficial Ownership Transparency

Chisinau, Republic of Moldova - A Step Towards Financial Integrity

In a significant push to combat financial crimes, representatives from various sectors of Moldovan society recently participated in training events on beneficial ownership transparency organized by the Council of Europe. The event took place in Chisinau from July 22-25 and brought together experts from banks, non-bank lending organizations, public services agencies, state tax services, lawyers, notaries, and bailiffs to improve their skills in identifying and reporting beneficial owners.

Key Takeaways

• Beneficial ownership transparency is a crucial tool in the fight against money laundering, tax evasion, and corruption.
• The training sessions focused on:
  • Complex ownership structures
  • National and international regulatory standards
  • Techniques for identifying and verifying beneficial owners
• Participants engaged in case studies analyzing risk management strategies and improved reporting practices.

Impact

As a result of this initiative, institutions in Moldova are now better equipped to meet international compliance standards in the area of beneficial ownership transparency. This commitment underscores the country’s dedication to strengthening its financial sector’s integrity and resilience against economic crime.

Partnership for Good Governance

The training events were part of the joint European Union and Council of Europe program “Partnership for Good Governance,” co-funded by both organizations and implemented by the Council of Europe as part of the project “Strengthening the Regime for the Prevention of Money Laundering and Asset Recovery in the Republic of Moldova.”