Regulatory Alerts2018-08-09
Regulation on AML/CFT Requirements for Non-Bank Payment Services Providers
The National Bank of Moldova issued Regulation No. 202 to establish mandatory anti-money laundering and counter-terrorist financing requirements for non-bank payment service providers. The regulation mandates the implementation of internal control systems, risk-based customer due diligence procedures, and comprehensive internal programs to identify and mitigate financial crime risks. It further requires providers to conduct annual risk assessments, report suspicious transactions, and adhere to strict customer identification and beneficial ownership verification standards.
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