Individuals will present ID cards when carrying out transactions with currency amounting to more than 200 thousand lei in currency exchange offices

Individuals will present ID cards when carrying out transactions with currency amounting to more than 200 thousand lei in currency exchange offices

This is stipulated by the draft Regulation on the activity of exchange offices and hotels in the field of preventing and combating money laundering and the financing of terrorism, which the National Bank has submitted for public consultations. The document sets the requirements for the currency exchange offices and currency exchange points located in hotels. In particular, it is stipulated that when buying or exchanging currencies equivalent to more than 200 thousand lei, individual clients will have to provide an identity card. The operator of the currency exchange office or currency exchange point in hotels will enter personal data of the client into the special register. In case the client acts from a third party, he must provide a power of attorney from the ultimate beneficiary of the currency exchange operation with all his personal data. According to the draft regulations, all currency exchange offices should develop their own program to prevent and combat money laundering and the financing of terrorism. At the same time, their operators should immediately inform the Anti-Money Laundering Service about the suspicious property, activities or transactions related to violations and financing of terrorism immediately (within a maximum of 24 hours). They also must inform about the customers’ transactions amounting to 100 thousand lei (or its equivalent), made with cash in one or several transactions within 10 calendar days. Consultations on the draft regulations are held before June 4: http://www.bnm.md/ro/content/proiectul-hce-al-bnm-cu-privire-la-aprobarea-regulamentului-privind-activitatea-caselor-de // 23.05.2018 — InfoMarket.

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