The results of Moldova’s National Risk Assessment (NRA) of money laundering and terrorist financing and an Action Plan addressing how to mitigate these risks were presented by the country’s Money Laundering Prevention Unit on 20 October 2017 in Chisinau, at an event organized by the OSCE, the World Bank and the European Union. The event brought together representatives from the public and private sector to discuss how to address gaps in legislation and enforcement.
The NRA aims at improving national legislation, regulations and measures to address money laundering and the financing of terrorism. According to the recommendations of the Financial Action Task Force (FATF), the inter-governmental organization setting the international standards for combating money laundering and the financing of terrorism, all countries are required to conduct such national risk assessments.
Vasile Sarco, Head of Moldova’s Money Laundering Prevention Unit, said: “Carrying out this national risk analysis supports the Moldovan authorities in performing an efficient management and allocation of national resources, thus preventing damage to the integrity and stability of the financial market and the national institutions. The valuable assistance of the OSCE in organizing this launch event will raise awareness among the competent authorities and the private sector.”