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Moldova’s Efforts to Combat Money Laundering and Financing of Terrorism Receive International Recognition

Chisinau, Moldova

In a significant move, the government of Moldova has taken steps to strengthen its anti-money laundering (AML) and combating financing of terrorism (CFT) measures, demonstrating its commitment to international standards.

According to sources, the National Bank of Moldova has issued instructions requiring participating banks to ensure that international money transfers include specific information about the payer. This includes:

  • First and last name
  • Unique reference number of the transfer
  • Address or national identity number
  • Date and place of birth

This move is part of a broader effort to comply with international anti-money laundering and combating financing of terrorism standards. Moldova has ratified several key conventions, including:

  • The Vienna Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances
  • The Palermo Convention against Transnational Organized Crime
  • The International Convention for the Suppression of the Financing of Terrorism

Moldova’s AML/CFT framework is guided by a range of regulations and laws, including:

  • Regulation on Credit Transfers
  • Regulation on the Activity of Banks within International Money Transfer Systems
  • National Strategy for the Prevention and Combating of ML/FT (2010-2012)

The country has also initiated a national assessment of money laundering and terrorist financing risks and is seeking financial support from the World Bank to perform this assessment using the World Bank methodology. Additionally, Moldova recognizes the need for additional training and capacity-building programs for law enforcement and judicial authorities.

Quotes

“We are committed to combating money laundering and financing of terrorism and ensuring that our measures meet international standards,” said a government spokesperson.

“Moldova’s efforts to strengthen its AML/CFT framework demonstrate its commitment to transparency and cooperation in the fight against financial crime.”

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