One of the main recent buzzwords in Moldova is AML compliance at the convergence of securities and banking which strictly follows the recommendations of the report from the fifth evaluation round of the MONEYVAL Committee of the Council of Europe, in order to transpose the provisions of Directive 2018/843 of the European Parliament and of the Council of May 30, 2018, as well as updated provisions of the Financial Action Task Force Recommendations.
AML Developments in Moldovan’s Financial Services Sector
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On July 1, 2023 entered into force the updated internal legislative framework in the field of preventing and combating money laundering by introducing, completing and clarifying the existing legal provisions on: beneficial owner; politically exposed persons (PEPs); virtual currency, virtual currency service provider activity, legal construction and providers of service for trusts, companies and other entities or legal construction…