Designated representatives of legal and financial sectors („obliged entities”) have an essential role in protecting the financial sector from Money Laundering (ML) and Terrorism Financing (TF) as they are considered the first line of defence against criminal activity. These entities play a pivotal role in identifying and reporting suspicious activities related to financial crime to the competent authorities. Therefore, creating awareness around anti-money laundering (AML) measures amongst obliged entities is essential.

In this context, the Council of Europe has facilitated a series of training events designed to equip participants with the knowledge, skills, and tools necessary to effectively identify suspicious ML/TF activities and to comply with reporting obligations. Each session was tailored to the specifics of each profession (notaries, auditors, lawyers, real estate agents and non-bank financial institutions) and took into consideration the risks faced by each sector associated with ML/TF activities. 

The program’s agenda foresaw sessions on identifying ML/FT risks and red flags pertinent to specific businesses and step-to-step guidance on reporting suspicious activities. Participants also learned techniques for developing good Suspicious Transaction Reports (STRs) while the practical exercises helped the audience understand the practical applicability of the reporting requirements.

The training events were organised by the Council of Europe with the support and cooperation of the Financial Intelligence Unit of the Republic of Moldova.

This event is part of the European Union and the Council of Europe joint programme “Partnership for Good Governance”, co-funded by the European Union and the Council of Europe, and implemented by the Council of Europe, in the framework of the project on “Strengthening the Anti-Money Laundering and Asset Recovery Regime in the Republic of Moldova”.