Commercial Bank Anti-Fraud Measures in Moldova Republic Under Scrutiny as CCIA Unveils Landmark Report

The Independent Anti-Corruption Advisory Committee (CCIA) is set to launch its first report, “Offshore Republic: Analysis of Factors Contributing to Systemic Fraud and Money Laundering in Moldova’s Financial-Banking and Insurance Sector”. The committee, comprising international and national experts, was established in June 2021 by presidential decree to analyze systemic corruption issues affecting state institutions and improve their anti-corruption efforts.

Report Highlights

• Provides a comprehensive analysis of corruption in Moldova’s financial, banking, and insurance systems
• Highlights systemic fraud, embezzlement, and money laundering
• Names key players involved in these schemes
• Reveals how Moldovan courts have been used to alter the ownership of banks and insurance companies

Recommendations for Reform

• Strengthen institutional capacity
• Increase transparency
• Change legislation
• Improve procedures for appointing heads of institutions with anti-corruption mandates
• Streamline cooperation between institutions
• Enhance public disclosure

CCIA Co-Chairs Present Key Findings

CCIA co-chairs James Wasserstrom and Tamara Razin will present the report’s key findings today at Radisson Blu Hotel in Chisinau. Wasserstrom, an American diplomat with expertise in uncovering corruption schemes, worked as an anti-corruption expert at the US embassy in Afghanistan. Razin, a macroeconomics and international finance expert, has 14 years of experience at the International Monetary Fund and previously worked for 15 years at the National Bank of Moldova.

Event Details

• Date: Today
• Time: 10:00 to 11:00 am
• Registration starts at 9:30
• Translation services in Romanian will be available
• The event will be broadcast live on Privesc.eu and the CCIA’s Facebook page