Financial Crime World

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National Risk Assessment Report on Money Laundering and Terrorism Financing

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General Information

The Republic of Moldova has a medium risk level for terrorism financing, but it is considered a priority area for development. The financial market in Moldova is less developed, with limited integration into the global financial system.

Key Statistics:

  • Medium risk level for terrorism financing
  • Less developed financial market with limited global integration

Financial Sectors

The National Risk Assessment Report highlights the following sectors as vulnerable to money laundering and terrorism financing:

Banking Sector

  • Accounts for 70% of national GDP
  • High risk yield due to its significant share in the economy

Remittance Sector

  • Estimated to be 15.4% of GDP
  • High average risk yield due to the large amount of money transferred through this sector

Securities Sector

  • Represents 1.64% of GDP
  • Medium risk yield due to its relatively small size and limited integration into the global financial system

Insurance Sector

  • Constitutes 0.8% of GDP
  • Low risk of money laundering and terrorism financing due to its small size and limited transactions

Notaries-Real Estate Sector

  • Small sector with insignificant percentage of GDP
  • High average risk of money laundering and terrorism financing due to the large amount of cash involved in real estate transactions

Office for Prevention and Combating Money Laundering

The Office operates as an independent division within the National Anticorruption Centre (NAC). Its functions include:

Key Functions:

  • Preventing and combating money laundering and terrorist financing by receiving, analyzing, and transmitting information on suspicious transactions.
  • Developing and implementing policies and strategies for preventing and combating money laundering and terrorism financing in Moldova.
  • Coordinating and ensuring the implementation of international standards in the field.

Staff and Management

The Office’s staff consists of experts appointed based on their skills and aptitudes in financial, banking, legal, and economic activities. The Head of the Office is appointed and dismissed by the Director of the Centre, while the appointment and dismissal of the Office personnel are made by the Director of the Centre on a proposal from the Head of the Office.

Key Staff:

  • Experts with skills and aptitudes in financial, banking, legal, and economic activities
  • Head of the Office appointed and dismissed by the Director of the Centre