Meeting of Lawyers Union of the Republic of Moldova, EU High Level Adviser Mission and the Office for Prevention and Combating Money Laundering

About 20 lawyers representing the Lawyers Union of the Republic of Moldova participated in a presentation, organized by the EU High Level Adviser Mission in close cooperation with the Office for Prevention and Combating Money Laundering and the Lawyers Union on 18th of January. The purpose of this event was to explain the requirements of the new Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Law and to describe the changes in lawyers activity, which will occur, as the new Law enters into force, as well as to measure the impact of this legal act on this profession and on the AML/CFT regime. One of the provisions of the new AML/CFT Law stipulates that lawyers and lawyer bureaus, as reporting entities are obliged to report the identified suspicious transactions and/or activities.

At the same time the risks and vulnerabilities of money laundering and terrorism financing highlights the importance of cooperation between the Service for Prevention and Combating Money Laundering of the Republic of Moldova and individual lawyers and/or lawyer bureaus, in order to ensure the application of the AML/CFT legislation.

The second objective of meeting was to show a summary of the EU supra-national assessment of risks of money laundering and terrorism financing report, in this respect the EU High Level Advisers in the field of Anti-Money Laundering Mr. Igoris Krzeckovskis presented the main points and conclusions of the above-mentioned report. At the same time the experts of the Service for Prevention and Combating Money Laundering presented the final report of the Money Laundering and Terrorism Financing National Risk Assessment, which took place in the period of November 2015 - February 2017, as well as the action plan for mitigating the identified risks and deficiencies.

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