Financial Crime World

Moldova’s Financial Intelligence Unit: A Key Player in the Fight Against Money Laundering and Terrorism Financing

Introduction

The Office for Prevention and Combating of Money Laundering (Financial Intelligence Unit) has emerged as a vital component in Moldova’s efforts to combat money laundering and terrorism financing. As the national center for collection, analysis, and dissemination of financial data, the FIU plays a crucial role in bridging the gap between the financial sector, law enforcement agencies, and specialized professional services.

Establishment and Growth

  • Established on September 15, 2003
  • Significant strides in establishing a robust regulatory framework that meets both national and international standards
  • Partnerships with counterparts around the world have secured substantial financial and human resources, enabling optimization of capacity and operational independence

International Recognition

  • Praised by MONEYVAL Committee experts from the Council of Europe for success in combating money laundering and terrorism financing
  • Active cooperation with similar authorities within international organizations such as:
    • EGMONT Group
    • MONEYVAL
    • Euro-Asiatic Group
    • Europol
    • GUAM

National Policy and Strategy

  • Moldova has adopted a unified government policy to prevent and combat money laundering and terrorist financing since 2007
  • 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, highlight the FIU’s role as the central authority responsible for presenting national developments in the field

Impact on European Agenda

  • The FIU has made a significant impact on Moldova’s European agenda, including:
    • Negotiating the Association Agreement with the EU
    • Achieving the national action plan on visas liberalization
  • Efforts have led to remarkable progress in building and strengthening the local system of prevention and combating money laundering and financing terrorism

Conclusion

Moldova’s Financial Intelligence Unit has established itself as a crucial component in the country’s fight against money laundering and terrorism financing. Its efforts have been recognized internationally, and its cooperation with other authorities has led to significant progress in building a robust system to prevent and combat these financial crimes.