National Bank of Moldova specialists benefit from international expertise in money laundering prevention within USAID programme

Chisinau, 30 December /MOLDPRES/

The recommendations and new provisions of the international organizations from the field of Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) have been unveiled at an online workshop held for specialists of the National Bank of Moldova (BNM). The event was organized with the support of the project of the United States Agency for International Development (USAID) Financial Sector transparency Activity (FSTA) and fits into a string of measures backed by FSTA for empowering Moldova’s supervision authorities to prevent and combat the financial offences.  

The two training sessions were held by an AML/CFT expert, Milomo Moyo, with 18 years of experience in the financial sector, which includes providing of technical assistance in the AML/CFT sector for more central and commercial banks, regulatory authorities and institutions specialized from various states.  

The goal of these trainings was to enhance the methodological and operational capacities within BNM to assess and identify eventual offences of money laundering and financing of terrorism. Thus, the subjects tackled comprised the revising of the international procedures, carrying out of audit missions, cooperation with other authorities, monitoring and reporting of suspect transactions, as well as international sanctions for financial offences.  

The discussions were also focused on the internal evaluation of the money laundering risks, the provisions of the new national strategy AML/CFT for 2020-2025 and requirements of compliance, which must be taken into account by the supervision authorities and reporting entities. In the context, Milomo Moyo presented the recommendations by the Financial Action Task Force (FATF), stressing the importance of compliance with the standards of this international evaluation organization, in order to enhance the level of reliability and investment attractiveness of a country. In 2021, FSTA will back the organization of more training sessions in the concerned sector for representatives of banks and other reporting entities. 

Note: Under the legislation in force in the field of AML/CFT, BNM is in charge of supervising the banks, suppliers and providers of payment services and the currency exchange units.