On 1 October 2024, the Council of Europe Office in Chișinău hosted the first Steering Committee meeting of the project “Action Against Money Laundering and Terrorism Financing in Moldova” implemented by the Council of Europe with the financial support provided by the Bureau of International Narcotics and Law Enforcement Affairs (INL) of the US Department of State. The meeting brought together project beneficiary institutions and national stakeholders in the anti-money laundering (AML) and countering financing of terrorism (CFT) field.
The project aims to support the country’s reform processes by providing targeted assistance in key areas identified by MONEYVAL reports related to the effectiveness of the AML/CFT system, and further support the jurisdiction with enhancing its compliance with international standards. It will contribute towards enhancing legislative, policy, and institutional frameworks to strengthen prevention, investigation, prosecution, and asset recovery related to financial crimes. Additionally, the project will foster the cooperation between government agencies and the private sector to ensure a coordinated and effective approach to combating financial crimes.
The Head of the Council of Europe Office in Chișinău, Falk Lange, stated: “The Republic of Moldova, as a member state of the Council of Europe, has consistently demonstrated its commitment to upholding the principles of democracy, the rule of law, and human rights. Addressing challenges related to corruption, money laundering, terrorism financing, and the financing of weapons of mass destruction stands as an important pillar in ensuring the sustainability of these principles.”
The Steering Committee (SC) provided the opportunity to present the project objectives, intervention areas and implementation timeframes. The members of the Steering Committee reiterated their commitment to continue co-operating with the Council of Europe and emphasized the importance of receiving support in the field of preventing and investigating financial crimes.
Furthermore, the event provided a valuable platform to exchange with the representatives of the national authorities and the Council of Europe experts on the recent legislative developments in the field of AML/CFT, asset recovery and international sanctions regime. Participants reflected most notably on the potential approaches for preparing the transposition of the latest EU AML/CFT and asset recovery rules and standards into the national legislative framework.
This activity was organised as part of the Council of Europe programme "Action Against Money Laundering and Terrorism Financing in Moldova”.
