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LAW OF THE REPUBLIC OF MOLDOVA

of May 21, 2020 No. 75

About the procedure of establishment of violations in the field of the prevention of money laundering and financing of terrorism and procedure for application of sanctions

For the purpose of transposition of Articles 14 (4), 16, 18, 18a, 20, 30, 32, 32a, 40, 42, 45, 46, 48, 50a, 59 and 60 Directives 2015/849/EU of the European Parliament and Council of May 20, 2015 about prevention of use of financial system for the purposes of money laundering or financing of terrorism, about change of Regulations (EU) No. 648/2012 of the European Parliament and Council and about cancellation of the Directive 2005/60/EU of the European Parliament and Council and the Directive 2006/70/EU of the Commission (the document extends to the EEA) published in the Official magazine of the European Union by L 141 of June 5, 2015 with the last changes made by the Directive 2018/843/EU of the European Parliament and Council of May 30, 2018 and according to part (2) article 35 of the Law on the prevention and anti-money laundering and terrorism No. 308/2017, financing

The parliament adopts this organic law.

Chapter I General provisions

Article 1. Purpose and coverage of the law

(1) This law establishes the procedure of establishment of violations in the field of the prevention and anti-money laundering and financing of terrorism made by reporting units, upper managers, officials and workers of reporting units and also procedure for application of sanctions against them.

(2) Provisions of this law extend to the acts (actions or failure to act) constituting violation of provisions of the legislation on the prevention and anti-money laundering and terrorism financing made in the territory of the Republic of Moldova including this law.

(3) Service according to the prevention and anti-money laundering, the National Bank of Moldova and the National commission on the financial market are national authorities, competent to apply this law according to the powers provided by the Law No. 308/2017.

(4) with discrepancies between provisions of the international treaty which party is the Republic of Moldova and the provisions provided by this law, the international standards have priority.

Article 2. Basic concepts

For the purpose of this law the following concepts mean:

the worker of reporting unit - the physical person working in reporting unit according to the individual employment contract and performing the duties connected with observance of provisions of the Law No. 308/2017;

leevy equivalent of the amount of euro - equivalent in Moldovan lei of the amounts of euro determined by the official rate of National Bank of Moldova for date of making of violation. In case of the further, systematic, lasting or continued violations the official rate of Moldovan leu established by National Bank of Moldova for date of making of the last act constituting violation is applied;

reporting unit - the physical person or legal entity determined in part (1) article 4 of the Law No. 308/2017;

the upper manager - the physical person determined in article 3 of the Law No. 308/2017;

the official - the physical person allocated in reporting unit, constantly or temporarily, by law, to destination, at the choice or owing to personal errand with certain rights and obligations on implementation of actions of administrative and administrative or organizational and economic nature;

control procedure - the procedural tool for obtaining within verification process of compliance of necessary information and documents from reporting units used by Service according to the prevention and anti-money laundering for establishment of violations of provisions of the Law No. 308/2017 ;

the protocol of carrying out control visit - the act by means of which are individualized act, aggravating and attenuating circumstances, legal classification of act, the responsible subject, the operations performed during control procedure and the actions offered upon completion of control visit.

Article 3. Bodies with functions of supervision of reporting units

(1) Organa with functions of supervision of reporting units are provided in part (1) article 15 of the Law No. 308/2017.

(2) Application of the sanctions for violation of provisions of the legislation on the prevention and anti-money laundering provided by this law and financing of terrorism is included into competence of the following bodies with functions of supervision of reporting units:

a) Service according to the prevention and anti-money laundering (further - Service);

b) National Bank of Moldova;

c) National commission on the financial market.

Article 4. Competence of bodies with functions of supervision of reporting units

(1) Organa with functions of supervision of reporting units in 24-hour time inform Service on detection by them during kontroly, the acts which are carried out in reporting units, or any otherwise which can be connected with violation of provisions of the legislation on the prevention and anti-money laundering and terrorism financing.

(2) the Service can recommend to bodies with functions of supervision of reporting units carrying out in persons under surveillance units kontroly in the field of the prevention and anti-money laundering and financing of terrorism according to procedures, stipulated by the legislation, on the basis which they act, with the notification at the same time of Service about results of control, or if necessary can address them for the direction of the specialist for monitoring procedure, joint with representatives of Service, in the field of the prevention and anti-money laundering and terrorism financing.

(3) the Service and National Bank of Moldova can direct specialists for mutual consultation within the available powers during kontroly in the field of the prevention and anti-money laundering and terrorism financing.

(4) the National Bank of Moldova performs check of compliance of the reporting units provided in Items and), b) and i) parts (1) article 4 of the Law No. 308/2017, establishes violations and publishes relevant decisions according to the Law on National Bank of Moldova No. 548/1995, the Law on activities of banks No. 202/2017, the Law on currency control No. 62/2008 and the Law on payment services and electronic money No. 114/2012. Entry into force, execution and contest of decisions of National Bank of Moldova on application of sanctions is performed according to the laws listed in this part. The term of accountability, method of individualization of sanctions, their type and the size are established according to provisions of this law. Part provisions (2) this Article, parts (1), (2) and (4) Articles 6, parts (4), (5) and (6) Articles 7, parts (2) article 10 of this law do not extend on control, carried out by National Bank of Moldova.

(5) the National commission on the financial market performs check of compliance of the reporting units provided in Item c) of part (1) article 4 of the Law No. 308/2017, according to the Law on the National commission on the financial market No. 192/1998. The method of individualization of sanctions, their type and the size are established according to provisions of this law.

(6) the Service performs check of compliance of reporting units, individualization and application of sanctions against reporting units it agrees to the procedure provided by this law.

Chapter II Check of compliance of reporting units

Article 5. Bases for initiation of control procedure of reporting units

The service initiates control procedure of reporting units:

a) on the basis of information on expected violation of provisions of the legislation on the prevention and the anti-money laundering and financing of terrorism received from bodies with functions of supervision of reporting units or from other bodies, physical persons and legal entities provided in parts (2) - (5) article 4 of the Law No. 308/2017;

b) owing to powers - on the basis of information which has according to the Law No. 308/2017.

Article 6. Control procedure planning

(1) Control of reporting units is carried out on the basis of the annual plans of control containing, in particular, list of reporting units which are subjects of control, the control purpose, the planned period of control and reasons for monitoring procedure.

(2) in the course of creation of plans of control the risks of money laundering and financing of terrorism determined in the national valuation report of risks and in the legislation on the prevention and anti-money laundering and terrorism financing are considered.

(3) In addition to the provided annual plan of the control Service can carry out unplanned control in the field of the prevention and anti-money laundering and terrorism financing.

(4) the Service can address bodies with functions of supervision of reporting units, competent to carry out control to persons under surveillance units, behind carrying out in reporting units unplanned kontroly in the field of the prevention and anti-money laundering and terrorism financing.

(5) Organa with functions of supervision of reporting units, competent to carry out control to persons under surveillance units, represent to Service:

a) annual plans of control - no later than December 31 of the year preceding control and also adjustment of plans - in 14-day time after their approval;

b) the notification on the planned unplanned control - no later than day of the beginning of control if only control does not follow from the corrected plan of control;

c) information on results of control in case of violation establishment by reporting units of provisions of the legislation on the prevention and anti-money laundering and terrorism financing - in 14-day time from the date of creation of the control act.

Article 7. Control coordination

(1) by Kontroli in the field of the prevention and anti-money laundering and terrorism financing, carried out by Service, are coordinated with bodies with functions of supervision of reporting units, competent to carry out control to persons under surveillance units.

(2) in the course of coordination according to part (annually till November 15 the Service develops 1) and publishes information concerning the areas and sectors subject to risk of money laundering and financing of terrorism.

(The Service can give 3) to bodies with functions of supervision of reporting units, competent to carry out control to persons under surveillance units, the recommendation about procedure for monitoring procedure according to this law.

(4) Organa, specified in part (2) Articles 3, can address to each other for the direction of specialists from their structure for the purpose of carrying out joint kontroly in the field of the prevention and anti-money laundering and terrorism financing.

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