On June 13, 2008 the team of the Joint Project of the Council of Europe and the European Commission against Corruption, Money Laundering and Terrorist Financing in the Republic of Moldova - MOLICO - in cooperation with the National Bank of Moldova and the Centre for Combating of Economic Crimes and Corruption organized a conference on “Application of risk-related approach within banks’ activities of anti-money laundering”. The participants to the conference were the representatives of the mentioned international organizations and of the local authorities, such as the National Bank of Moldova, the Centre for Combating of Economic Crimes and Corruption, the National Financial Market Commission, top management and specialists from commercial banks.

The conference was opened by speeches of welcome delivered by officials: Vladimir Ristovschi, Special Representative of the General Secretary of the Council of Europe in the Republic of Moldova, Ion Prodan, Vice Governor of the National Bank of Moldova, Paolo Berizzi, Chief of the political and economic section within the European Commission Delegation in the Republic of Moldova, Vitalie Verebceanu, Deputy Director of the Centre for Combating Economic Crimes and Corruption, Aurica Doina, Deputy Chairman of the National Financial Market Commission, Natalia Kravchenko, manager of MOLICO Project, Council of Europe.

in the first section of the forum, Radu Musteaţa, Director of Banking Regulation and Supervision Department of the National Bank of Moldova presented to the audience the national regulations on anti-money laundering for the activities of the banks from the Republic of Moldova. The speaker revealed more aspects regarding the risks that banks tend to adequately assess and mitigate in their relations with clients, as well as the procedures of achieving this purpose. At the same time, the central bank’s official set forth the NBM requirements on the basic elements of banks’ internal programs of money laundering and terrorism financing prevention, the know-your-customer policies and procedures, the conditions that imply the need for enhanced prudential measures, etc.

Mihai Gofman, the Deputy Chief of Money Laundering Prevention and Combating Service (CCCEC) reported on the typology of money laundering in Moldova, while the experts of the Council of Europe Robert Upton (United Kingdom), Zygas Liutauras (Lithuania) and Fokko-Jan Hoevers (The Netherlands) presented the related experience in the European countries.  

In conclusion, the up-to-dateness and the importance of the debated topic were once again emphasized, while mentioning the multiple impacts of the respective phenomenon on the social life.

The disclosure, during the forum organized by the MOLICO Project team, the National Bank of Moldova and CCECC, of banks’ practices aimed at anti-money laundering will contribute to the stability and the security of the national banking system and to a better compliance with the respective international standards.