Action Against Money Laundering and Terrorism Financing in Moldova (2024-2026)
What is the goal and objective of the action?
The project "Action against Money Laundering and Terrorism Financing in Moldova" contributes to the national efforts to address challenges related to corruption, money laundering, terrorism financing, and the financing of weapons of mass destruction. It aims to support Moldova's reform processes by providing targeted assistance in key areas identified by previous evaluations of MONEYVAL and in alignment with international standards. It focuses on enhancing legislative, policy, and institutional frameworks to strengthen prevention, investigation, prosecution, and asset recovery related to financial crimes. Additionally, the project emphasizes collaboration between government agencies and the private sector to ensure a coordinated and effective approach to combating financial crimes.
The project aims to achieve the following main outcomes:
- Outcome 1: Developed effective measures to prevent money laundering, terrorism financing and the financing of proliferation of weapons of mass destruction;
- Outcome 2: Enhanced capacity for investigation, prosecution and adjudication of corruption, money laundering and terrorism financing in line with national risks;
- Outcome 3: Improved effectiveness of tracing, recovery, and management of criminal assets.
Funding: EUR 857 142.86 / USD 900 000; Bureau of International Narcotics and Law Enforcement Affairs of the US Department of State (INL)
Duration of the project: 1 April 2024 to 30 September 2026
Leaflet of the project: Action Against Money Laundering and Terrorism Financing in Moldova
Who benefits from the action?
Main counterparts:
- Office for Prevention and Combating of Money Laundering
- National Bank of Moldova
- Ministry of Internal Affairs
- Ministry of Finance (including State Fiscal Service)
- General Prosecutor’s Office
- National Anticorruption Center
- Public Services Agency
- Self-regulatory bodies of the legal professionals
- Civil society organizations and private sector entities
How does the action work?
The "Action against Money Laundering and Terrorism Financing in Moldova" is a collaborative initiative led by the Council of Europe, aiming to bolster Republic of Moldova's efforts in combating financial crimes. The project focuses on enhancing legislative, policy, and institutional frameworks to prevent, investigate, and prosecute activities related to money laundering and terrorism financing. It provides targeted assistance in areas identified by MONEYVAL evaluations, ensuring alignment with international standards. Key activities include legislative reviews, capacity-building workshops, and fostering cooperation between government agencies and the private sector to ensure a coordinated and effective approach to combating financial crimes.
What do we expect to achieve?
The "Action against Money Laundering and Terrorism Financing in Moldova" aims to achieve the following key outcomes:
- Develop Effective Preventive Measures: Establish robust mechanisms to prevent money laundering, terrorism financing, and the proliferation of weapons of mass destruction.
- Enhance Investigative and Judicial Capacities: Strengthen the abilities of authorities to investigate, prosecute, and adjudicate cases of corruption, money laundering, and terrorism financing, aligning efforts with identified national risks.
- Improve Asset Tracing and Recovery: Increase the effectiveness of tracing, recovering, and managing criminal assets to ensure that illicit gains are identified and confiscated.
