REPORT: MOLDOVA – A REVIEW A DECADE FOLLOWING MASSIVE FRAUDS OF PUBLIC FUNDS FROM THE FINANCIAL, BANKING AND INSURANCE SECTORS

On 13 July, the Independent Anti-Corruption Advisory Committee (CCIA) published its report intended to provide a comprehensive analysis of corruption in the financial, banking and insurance systems, seen in the broader context of systemic fraud in these sectors, embezzlement and money laundering.  The report comes 10 years after the reported theft of $1 billion out of the Moldovan banking system and the laundering of more than $20 billion through Moldovan banks.  The publication seeks to illustrate the many ways in which legal amendments, questionable appointments of heads of institutions, lack of genuine independence of oversights institutions and the absence of stronger actions in respect of red flags, resulted in a “captured state”.  This is the first report of the CCIA. Future ones will assess the mandate of anti-corruption institutions, the financing of political parties and corruption in state-owned enterprises.

https://ccia.md/en/2022/07/13/the-offshore-republic-10-years-after-the-embezzlement-of-money-from-financial-banking-insurance-system-in-moldova/

The Report, in English and Romanian, is at –

https://ccia.md/en/reports/

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