Moldova will expand cooperation with the Council of Europe and other partners to address economic crime and money laundering
This was stated during the first meeting of the first Steering Committee of the project “Action Against Money Laundering and Terrorism Financing in Moldova”, implemented by the Council of Europe with the financial support of the US Department of State Bureau of International Narcotics and Law Enforcement Affairs (INL), held at the Council of Europe Office in Chisinau. The conference brought together national and international experts to address the most important aspects of economic crime and the impact of the project on the situation in Moldova. Falk Lange, Head of the Council of Europe Office in Chisinau, said that Moldova, as a member of the Council of Europe, has consistently demonstrated its commitment to upholding the principles of democracy, the rule of law and human rights. Addressing the problems of corruption, money laundering, financing of terrorism and financing of weapons of mass destruction is an important basis for ensuring the sustainability of these principles. Samantha Sheen, Program Manager of the Economic Crime and Cooperation Division at the Council of Europe, encouraged participants to discuss the project and its challenges, while Bryan Schubert, INL Program Director at the US Department of State, emphasized that the implementation of this project will involve a multi-faceted approach, including assessments, provision of expert advice, legislative reviews, workshops, trainings, and roundtables like this one. “We expect that this project will significantly reduce money laundering, increase confidence in Moldova's financial system, attract legitimate investments and contribute to Moldova's economic growth and overall stability,” said Brian Schubert. The agenda of the event was focused on the implementation of Moldova's Action Plan on preventing and combating money laundering and terrorist financing. The key meeting discussed the transposition of the EU Directive 2024/1640, during which the participants talked about the reinforcement of due diligence measures and new supervisory mechanisms to combat financial crimes. Later, Council of Europe consultant Walter Quirinen led a discussion on asset recovery and confiscation. The event concluded with a session on the implementation of international sanctions regimes and procedures. The conference laid the groundwork for Moldova's ongoing cooperation with the Council of Europe and international partners in the fight against economic crime. This project aims to support reforms in Moldova by providing targeted assistance in key areas and addressing deficiencies identified in previous MONEYVAL assessments and focuses on bringing the country's legislative, policy and institutional framework in line with international standards, contributing to the prevention, investigation, prosecution and recovery of illicit assets. This is in close alignment with the strategic priorities of the Council of Europe Action Plan for Moldova (2021-2024) and the future plan for 2025-2028. // 21.10.2024 – InfoMarket
