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Anti-Money Laundering Laws in the Republic of Moldova

The Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws in the Republic of Moldova are set out in two main laws:

  • Law No. 202/2002 on combating money laundering and terrorist financing
  • Sanction Law No. 131/2014

These laws regulate the activities of reporting entities, such as banks, financial institutions, and other organizations that provide financial services.

Sanctions for Money Laundering

The sanctions for money laundering are as follows:

  • A fine of 8,000 to 11,000 conventional units (20,000 to 27,500 euros) for the legal entity and prohibiting the right to carry out certain activities or liquidation.
  • Imprisonment of 4 to 7 years for the person, and fining with 10,000 to 13,000 conventional units (25,000 to 32,500 euros) the legal entity, and prohibiting the right to carry out certain activities, or with liquidation of the legal entity.
  • Imprisonment of 5 to 10 years for the person, and fining with 13,000 to 16,000 conventional units (32,500 to 40,000 euros) the legal entity, or with liquidation of the legal entity.

Sanctions for Terrorist Financing

The sanctions for terrorist financing are as follows:

  • Imprisonment of five to 10 years with (or without) prohibiting the right to hold certain positions, or carrying out certain activities, for two to five years.
  • A fine of 8,000 to 11,000 conventional units (20,000 to 27,500 euros) for the legal entity and liquidation.

Additional Sanctions

The AML/CFT authorities in the Republic of Moldova have the power to impose additional sanctions, including:

  • Public statement: Identifying the person or legal entity and the nature of the violation.
  • Prescription: Requiring the person or legal entity to cease the respective behavior and to desist from repeating it.
  • Suspension of activity: Suspension (for 3 to 12 months) or withdrawal of the authorization or license.
  • Temporary ban on management position: Temporary ban (for 3 to 12 months) on the exercise of management position in reporting entities for the officer found liable for the breach.
  • Fine: Fine in the amount of up to 50,000,000 euros.

Countering Terrorist Finance

The Republic of Moldova has introduced corporate liability for legal entities and broadened the notion of “terrorism financing” (i.e., consumption of the crime does not depend on the perpetration of the act or the use of the funds).

Any action of making available or collection by any means, directly or indirectly, of any type of acquired assets or rendering any financial services for the purpose of using such assets or services, or knowing that they shall be used (i) upon organization, preparation for, or perpetration of, a terrorism offense, or (ii) by a criminal group or person in connection with a terrorism offense shall be punishable as ’terrorism financing’ (Article 279 of the Criminal Code).

Anti-Bribery and Corruption Laws

The legislative framework of the Republic of Moldova related to corruption has evolved significantly in the past years and important laws have been passed, including:

  • Law No. 133 on the declaration of wealth and personal interests
  • Law No. 25-XVI on the Code of conduct of the public officer
  • Law No. 82 on integrity
  • Law No. 239-XVI on transparency in decision-making

The Moldovan Criminal Code provides the following offenses related to bribery and corruption:

  • Passive corruption (Article 324) and active corruption (Article 325): For the public sector.
  • Accepting of bribe (Article 333) and offering of bribe (Article 334): For the private sector.