RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of August 9, 2018 No. 201

About approval of Regulations about requirements in the field of the prevention and anti-money laundering and financing of terrorism in activities of organizations for currency exchange

Based on part (1) the Art. 11, the item c) parts (1) Art. 27 and the item b) Art. 51 of the Law on National Bank of Moldova No. 548-XIII of July 21, 1995 (repeated publication: The official monitor of the Republic of Moldova, 2015, No. 297-300, the Art. 544), parts (3) and parts (14) the Art. 13, the item and) parts (2) Art. 15 of the Law on the prevention and anti-money laundering and financing of terrorism No. 308 of December 22, 2017 (The official monitor of the Republic of Moldova, 2018, No. 58-66, of the Art. 133), the Executive committee of National Bank of Moldova DECIDES:

1. Approve Regulations about requirements in the field of the prevention and anti-money laundering and financing of terrorism in activities of organizations for currency exchange, according to Appendix.

2. This resolution becomes effective in day of publication in the Official monitor of the Republic of Moldova.

Appendix

to the Resolution of Executive committee of National Bank of Moldova of August 9, 2018 No. 201

Regulations about requirements in the field of the prevention and anti-money laundering and financing of terrorism in activities of organizations for currency exchange

Chapter I General provisions

1. The regulations about requirements in the field of the prevention and anti-money laundering and financing of terrorism in activities of organizations for currency exchange (further - Regulations) establish rules on: to development of the internal program, application of requirements of precaution for clients, including measures of the increased precaution; to data storage; reporting on suspicious actions and transactions; to accomplishment of elements on internal control system, and also other requirements for the purpose of risk minimization connected with money laundering and financing of terrorism.

2. Subjects of these Regulations are organizations on currency exchange which perform cash exchange currency transactions with physical persons.

3. When implementing exchange currency transactions by means of the foreign exchange device, organization on currency exchange provide observance of the requirements provided by the Law on currency control No. 62-XVI of March 21, 2008 and these Regulations.

4. In these Regulations the concepts and expressions determined by the Law on the prevention and anti-money laundering and financing of terrorism No. 308 of December 22, 2017, the Law on currency control No. 62-XVI of March 21, 2008 and other regulations published by National Bank of Moldova and Service according to the prevention and anti-money laundering, the preventions connected with area and anti-money laundering and terrorism financing are used.

Chapter II of the Requirement to the internal program for the prevention and anti-money laundering and financing of terrorism and risks assessment, connected with money laundering and financing of terrorism

5. Organizations on currency exchange are developed and implement own program for the prevention and anti-money laundering and terrorism financing (further - the PBODFT Program).

6. The PBODFT program represents politicians, methods, practicians, procedures and other rules and practicians, including rules on knowledge of the client which prevent use of organizations on currency exchange for the purpose of money laundering or financing of terrorism, intentionally or not, organized criminal groups or their accomplices.

7. In case of development of the PBODFT Program of organization for currency exchange will be guided by provisions of the Law on the prevention and anti-money laundering and financing of terrorism No. 308 of December 22, 2017, these Regulations and other regulations published by Service according to the prevention and anti-money laundering for implementation of the specified law. Organizations on currency exchange will perform adaptation of the requirement of the PBODFT Program to specifics of the activities. The internal program affirms the responsible person with functions of the upper manager of organization on currency exchange.

8. The PBODFT program developed by organization on currency exchange shall provide, but not be limited to the following:

1) obligations of the upper manager, the compliance officer the politician and procedures to legal requirements according to the prevention and anti-money laundering and financing of terrorism according to Item 42 of these Regulations;

2) politicians and procedures for precautionary measures concerning clients;

3) politicians and procedures for the increased precautionary measures for clients and transactions with the raised risk degree, including for politically vulnerable persons;

4) procedures of development and updating of the list of persons, groups and subjects involved in terrorist activities;

5) procedures for accounting and storage of information;

6) procedures for identification and submissions of the report on suspicious activities and transactions on money laundering or financing of terrorism, or non-compliance with the current legislation or internal procedures, to the upper manager and Service according to the prevention and anti-money laundering;

6-1) determination of the mechanism of protection of persons, compliance officers, and the employees reporting about violations of the law about prevention and anti-money laundering and terrorism financing;

7) establishment of the corresponding procedures for selection of personnel and requirements in case of employment of employees for ensuring its professionalism;

8) implementation of substantive audit on testing of compliance of organizations on currency exchange to politicians, procedures, internal checks in the field of the prevention and anti-money laundering and terrorism financing.

9. Organizations on currency exchange review (update), every time, when necessary, the PBODFT program, but once a year suffices, considering legislation provisions.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info