MOLDOVA: AML/CFT EVALUATION FOLLOW-UP REPORT

On 10 June, MONEYVAL released the enhanced follow-up report on Moldova following its 2019 mutual evaluation report.  The new report details the upgrading of the country’s ratings from “partially compliant” to “largely compliant” in 4 areas related to the activities of designated non-financial businesses and professions (DNFBP), customer due diligence (CDD), politically exposed persons (PEP), and higher risk countries. However, in the field of new technologies, where new international requirements for virtual assets have been introduced, Moldova’s rating has been downgraded.  It notes that some minor deficiencies also remain, including those concerning the definition of the close associates of politically exposed persons, and the lack of customer due diligence requirements in some sectors.  Moldova is expected to report back to MONEYVAL on further progress to strengthen its implementation of AML/CFT measures in 1 year’s time.

https://rm.coe.int/fur-moldova-1st/1680a6d980

https://www.coe.int/en/web/human-rights-rule-of-law/-/moneyval-upgrades-moldova-s-ratings-following-improvements-in-measures-to-prevent-money-laundering-new-report

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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