Moldova will align its legislation on money laundering and terrorist financing prevention with European Union standards. Today, 62 lawmakers passed a draft law in the first reading to make these adjustments.
The proposed amendments will enable Moldova’s swift integration into the Single Euro Payments Area, bringing significant economic benefits to the country and its people.
The Ministry of Justice, in collaboration with the Service for Prevention and Combating Money Laundering, drafted the law to ensure national legislation complies with EU regulations. This step is crucial for Moldova to fulfill its EU accession commitments.
The draft law addresses recommendations from the review report on the Exchange of Information on Request (EOIR) Standard and incorporates findings implementation from the MONEYVAL Committee.
FOR THE MOSTÂ IMPORTANT NEWS, FOLLOW US ONÂ TWITTER!Â
The Law on State Registration of Legal Entities and Individual Entrepreneurs will be updated to require the submission of information about resident private individuals responsible for providing and updating data in the state register of legal entities.
The amendments to the Contravention Code will penalize individuals and entities that fail to submit updated beneficial ownership information or provide accurate, complete, and error-free data during the registration of legal entities and trusts. Fines for individuals or responsible parties will range from 15,000 to 40,000 lei, while legal entities could face fines of up to 75,000 lei.