The Moldovan government approved amendments on Wednesday to strengthen national legislation for preventing and combating money laundering and terrorism financing.
According to the Ministry of Justice, these changes align with the Financial Action Task Force (FATF) recommendations and MONEYVAL standards.
The amendments aim to bolster the national anti-money laundering system by expanding the range of reporting entities and establishing a more effective mechanism for verifying, registering, and providing beneficial ownership information for legal entities and trusts.
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Additionally, the amendments introduce criminal liability for failing to update beneficial ownership data or for submitting false, incomplete, or incorrect information in the registration of legal entities and trusts.
The Code of Offenses is now updated with Article 2634, “Submission of False, Incomplete, or Incorrect Information for State Registration.” Under this provision, individuals can face fines between 300 and 800 conventional units (15,000 to 40,000 lei) and legal entities between 1,000 and 1,500 conventional units (50,000 to 75,000 lei).