MOLDOVA FAILS TO MEET ALL ANTI-FRAUD STANDARDS, SAYS MONEYVAL REPORT
Progress in Anti-Money Laundering Measures, but Room for Improvement
Chisinau, Moldova
The Republic of Moldova has made significant strides in strengthening its anti-money laundering and counter-terrorist financing measures, according to a new report by the Council of Europe’s Committee of Experts on Money Laundering (MONEYVAL). However, despite this progress, the country still falls short in several key areas.
Key Findings
- Technical Compliance Deficiencies Addressed: Moldova has effectively addressed most technical compliance deficiencies related to targeted financial sanctions against terrorism and its financing.
- Limited Progress in Virtual Assets and Service Providers: Unfortunately, the country has made only limited progress in implementing standards on virtual assets and service providers.
- Ratings Downgraded: As a result of these shortcomings, MONEYVAL has downgraded Moldova’s rating on several key recommendations.
Compliance Status
| Recommendation | Rating |
|---|---|
| 9 out of 40 FATF Recommendations | Largely Compliant |
| 6 out of 40 FATF Recommendations | Partially Compliant |
Call to Action
MONEYVAL urges the Moldovan authorities to address these shortcomings by June 2025 and improve compliance with all FATF standards. The country remains in enhanced follow-up and is expected to report back to MONEYVAL within one year.
Response from MONEYVAL
“This report highlights both the progress made by the Republic of Moldova and the areas where further improvements are needed,” said a MONEYVAL spokesperson. “We encourage the authorities to continue working towards full compliance with international anti-money laundering standards.”
Evaluation Process
MONEYVAL evaluates 33 states and territories, providing recommendations for necessary improvements to their anti-money laundering and counter-terrorist financing systems.
Full Report Available Online
The full report is available online at [link].