Regulatory Alerts2024-11-07
Regulation on requirements for identification and verification of customers identities by electronic means
The National Bank of Moldova issued Decision No 281 to approve regulations governing the remote identification and verification of customer identities by reporting entities. The framework mandates the implementation of robust IT solutions, comprehensive risk assessments, and specific technical standards for electronic identification methods such as video and biometric verification. Reporting entities must establish strict internal policies, conduct pre-implementation and ongoing monitoring of their systems, and ensure compliance with anti-money laundering obligations within a six-month transition period.
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