Moldova

New Documents

European Commission Highlights Reforms by Moldova on Tackling ML, Corruption

The European Commission published a joint staff working report on Moldova’s progress in implementing necessary regulatory reforms pursuant to its commitments under its EU-Moldova Association Agreement.

October 20, 2021

Moldova NAC Announces Record Assets Freeze in Money Laundering, Corruption Cases

The National Anticorruption Center of Moldova announced that its Criminal Assets Recovery Agency froze assets worth a record 110 million lei in connection to criminal cases initiated in connection to money laundering, corruption and drug trafficking.

May 11, 2021

COE Launches Action Plan for Moldova on Corruption, Human Rights

April 20, 2021

Moldovan President Prioritizes Anti-Corruption Efforts in Speech

April 20, 2021

Moldova NAC Announces Transfer of Money Laundering Suspect from Romania

April 5, 2021

News

Midweek Roundup: Deutsche Bank Hit with German AML Fine, Germany’s FIU Discovers More Wirecard-linked STRs, and More

Mexican FIU freezes hundreds of bank accounts, FinCEN details red flags of unemployment insurance fraud, and more, in the midweek roundup.

October 14, 2020

Weekly Roundup: Swedbank Fined €360 Million for AML Breaches, MM Warburg to Forfeit €176 Million, and More

AML staff retools transaction monitoring system for global COVID-19 outbreak, U.S. promises more sanctions on Iran amid pandemic, and more, in the weekly roundup.

March 20, 2020

Weekly Roundup: FinCEN Fines Former US Bank Executive, Lawsuit Accuses Credit Suisse of Compliance Violations, and More

March 6, 2020

Judges Back UK Investigators in Asset Seizure Case

November 8, 2019

Midweek Roundup: Standard Chartered Rescreens Clients, London Lender Settles Sudan Sanctions Violations, and More

September 18, 2019

Enforcement Actions

0 Items Found

Key Documents

Moldova Adopts Amended AML/CFT Law

July 26, 2007

Moldova Issues English Version of Law on Financial Institutions

October 21, 2005

Moldova Publishes AML/CTF Requirements for Banks

September 28, 2011

Important Facts

  • The U.S. State Department identifies Moldova as a jurisdiction of concern. While the country is not considered a regional financial center, it has an economy that is largely cash-based and remains highly vulnerable to money laundering activities. The government of Moldova monitors money flows throughout the country, but does not control its breakaway region of Transnistria. Transnistrian authorities do not adhere to Moldova's financial controls and maintain a banking system not licensed by the National Bank of Moldova, making Transnistria highly susceptible to money laundering. Criminal proceeds in Moldova are primarily derived from tax evasion, contraband smuggling, fraud and corruption. Money laundering occurs in the banking system, exchange houses and the offshore financial centers in Transnistria. Moldova does not permit offshore banks or shell companies. Internet gaming comes under the same set of regulations as domestic casinos, yet enforcement of the regulations is sporadic. In October 2015, Moldova’s Office for Prevention and Control of Money Laundering noted that it subjected 549 transactions to complex criminal analysis.
  • KYC Covered Entities:  Banks, currency exchange offices, investment funds, investment or fiduciary service providers and management companies, deposit companies, fiduciary companies, securities dealers, stock exchange companies, brokers, insurance and reinsurance companies, company formation agents and ownership registries, gaming and lottery organizers and institutions (including internet casinos), real estate agents, dealers of precious metals or gems, auditors, accountants and financial consultants, lawyers, notaries, and organizations which provide postal and telephone mandate exchange or value transfer services
  • STR Covered Entities:  Banks, currency exchange offices, investment funds, investment or fiduciary service providers and management companies, deposit companies, fiduciary companies, securities dealers, stock exchange companies, brokers, insurance and reinsurance companies, company formation agents and ownership registries, gaming and lottery organizers and institutions (including internet casinos), real estate agents, dealers of precious metals or gems, auditors, accountants and financial consultants, lawyers, notaries, and organizations that provide postal and telephone mandate exchange or value transfer services
  • Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: Yes
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 29 (January – October, 2015); Convictions: 2 (January – October, 2015)
Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 8 High : 0
Largely Compliant : 21 Substantial : 3
Partially Compliant : 11 Moderate : 7
Non-Compliant : 0 Low : 1

BASEL i

Rank : 46/110
Score : 4.98/10

TRANSPARENCY INTERNATIONAL i

Rank : 115/179
Score : 34/100

Tax Justice Network i

Rank : N/A
Score : N/A