Regulatory Alerts2018-08-09
Regulation on Requirements for Prevention and Combating Money Laundering and Terrorism Financing in the Activity of Foreign Exchange Entities and Hotels
The Executive Board of the National Bank of Moldova issued Regulation No. 201 to establish mandatory anti-money laundering and counter-terrorist financing requirements for foreign exchange entities and hotels in Moldova. The regulation mandates the development of internal compliance programs, rigorous customer due diligence measures for transactions exceeding 200,000 lei, and enhanced scrutiny for high-risk clients such as politically exposed persons. Furthermore, it imposes strict obligations on these entities to report suspicious activities within 24 hours, maintain cash transaction records for 10 days, and retain all relevant documentation for a minimum of five years.
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