The National Bank of Moldova (NBM) recently organized a series of online training workshops attended by over 200 representatives of non-bank financial institutions. During these sessions, participants from non-bank lending organizations, savings and loan associations, as well as from the fields of insurance, reinsurance and insurance and/or reinsurance intermediaries received training on the requirements related to the prevention and combating of money laundering and terrorist financing.
The training workshops aimed to strengthen the participants’ capacity to effectively implement relevant legal and regulatory measures. Topics covered included: assessing the risks of money laundering and terrorist financing, developing and updating internal programs, applying know-your-customer policies and procedures in line with updated requirements, appropriate use of precautionary measures based on risk levels, monitoring and reporting suspicious activities to the Office for Prevention and Fight against Money Laundering, data retention, elements of the internal control system, and requirements for the application of international restrictive measures.
The event facilitated the exchange of experiences and opinions among participants, providing them with an appropriate framework to discuss the challenges encountered in the process of implementing legislative requirements and to identify the necessary measures to be applied based on the specific risks of their activities.
The NBM reaffirms its commitment to assisting reporting entities in applying legal requirements and will continue to organize training sessions in this area throughout this year. The training will focus particularly on implementing the provisions of the National Bank’s Regulation on preventing and combating money laundering and terrorist financing in the operations of non-bank financial institutions.