Romania’s Financial Intelligence Unit: A Key Player in Combating Money Laundering and Terrorist Financing

The National Office for Preventing and Combating Money Laundering (NOPCML) is Romania’s primary financial intelligence unit, responsible for analyzing and disseminating information related to suspicious transactions. In 2022, the office received a total of 34,000 reports from financial institutions, which were thoroughly examined to identify potential cases of money laundering or terrorist financing.

Key Findings

• The NOPCML analyzed over 14,000 reports, identifying 1,573 cases that required further investigation.
• Suspicious transactions were suspended for 48 hours in 157 cases, while the Public Prosecutor’s Office ordered a 72- hour suspension in two instances.
• Information was disseminated to law enforcement authorities and competent bodies in 1,573 cases.

Dissemination of Financial Intelligence

The NOPCML plays a crucial role in sharing financial intelligence with relevant authorities. In 2022, the office responded to requests for information from various entities, including:

• Public Prosecutor’s Office of the High Court of Cassation and Justice: 80 requests
• Romanian Intelligence Service: 33 requests
• European Public Prosecutor’s Office: 3 requests
• Other prosecution bodies: 1039 requests

Conclusion

The NOPCML is a vital component in Romania’s efforts to combat money laundering and terrorist financing. By analyzing reports from financial institutions and disseminating information to relevant authorities, the office helps to prevent and detect these serious crimes. In 2022, the NOPCML demonstrated its commitment to this important mission by processing over 34,000 reports and providing critical intelligence to law enforcement agencies.