Financial Crime World

Financial Crime Prevention Strategies Prove Effective in Moldova

Reducing Vulnerability to Money Laundering and Terrorism Financing

The Office for Prevention and Combating of Money Laundering (Financial Intelligence Unit) in Moldova has been a key player in reducing the vulnerability of the country’s banking and non-banking sectors to financial crime. Since its establishment in 2003, the unit has worked tirelessly to establish a robust regulatory framework and foster international cooperation.

Key Achievements

  • Improved Operational Effectiveness: The Office’s ability to identify complex schemes and typologies has led to increased operational effectiveness, allowing it to forward information to law enforcement agencies for further examination.
  • Significant Strides in Combating Money Laundering and Terrorism Financing: Recent evaluation reports by MONEYVAL Committee experts of the Council of Europe have recognized Moldova’s progress in combating financial crime.
  • Robust System of Prevention and Combating Money Laundering: The National Strategy for Prevention and Combating of Money Laundering and Terrorism Financing for 2013-2017 has led to notable progress in building a robust system of prevention and combating money laundering.

International Cooperation and Recognition

  • Bilateral Relations with Similar Authorities: Moldova has prioritized bilateral relations with similar authorities in other countries, signing 43 cooperation memoranda to date.
  • Promoting Unified Government Policy Against Financial Crime: Since 2007, Moldova has promoted a unified government policy against financial crime, further strengthening its commitment to financial crime prevention.

European Agenda and Stability of the Financial System

  • Moldova’s Inclusion in the European Agenda: Efforts led by the FIU and its partners have contributed significantly to building an obstacle against criminals seeking to exploit financial institutions for illicit activities.
  • Promoting Stability of the Financial System: As a result, the stability of Moldova’s financial system has been promoted, making it an essential element in preventing financial crimes.