Financial Crime World

Preventing Financial Crime in Moldova: A Step Towards a Safer Financial Sector

The Role of the Office for Prevention and Combating of Money Laundering

The Office for Prevention and Combating of Money Laundering (Financial Intelligence Unit) plays a vital role in safeguarding Moldova’s financial sector from money laundering and terrorism financing. As the national center for collection, analysis, and dissemination of financial data, it serves as a bridge between the financial sector, law enforcement agencies, and specialized professional services.

Analytical Processes and Financial Investigations

The Office has been instrumental in identifying complex schemes and typologies of money laundering and terrorism financing through its analytical processes and financial investigations. This valuable information is then shared with operational criminal divisions for further examination.

Key Benefits of the Office’s Work:

  • Identification of complex money laundering and terrorism financing schemes
  • Sharing of valuable information with law enforcement agencies
  • Enhanced cooperation between government institutions and international organizations

Establishment and Development of a Robust Regulatory Framework

Since its establishment in 2003, the Office has worked to establish a robust regulatory framework that meets both national and international standards. It has received substantial financial and human resources from partners around the world, enabling it to optimize its capacity and operational independence.

Recognition by International Experts:

The Office’s efforts have been recognized by MONEYVAL Committee experts of the Council of Europe, who praised its success in combating money laundering and terrorism financing. To further enhance cooperation, the Office actively shares information with similar authorities within international organizations such as EGMONT Group, MONEYVAL, Euro-Asiatic Group, Europol, and GUAM.

Implementation of a Unified Government Policy

Moldova has also implemented a unified government policy to prevent and combat money laundering and terrorist financing since 2007. The National Strategy for Prevention and Combating of Money Laundering and Terrorist Financing (2013-2017) and the accompanying Action Plan have been adopted by law.

International Cooperation and Information Sharing

The Office has contributed to Moldova’s European agenda, including the negotiation of the Association Agreement with the EU and the implementation of a national action plan on visas liberalization. Its efforts have led to significant progress in building a robust system to prevent money laundering and financing of terrorism, making it increasingly difficult for criminals to exploit financial institutions.

Cooperation Memoranda:

With 43 cooperation memoranda signed with similar authorities around the world, Moldova is committed to international cooperation and information sharing to combat financial crime. The Office’s dedication has become an essential element in promoting the stability of the financial system in the Republic of Moldova.