RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of November 7, 2024 No. 280

About approval of Regulations about requirements to the prevention and anti-money laundering and financing of terrorism in activities of non-bank financial institutions

Based on the item c) parts (1) Art. 27 of the Law on National Bank of Moldova No. 548/1995 (The official monitor of the Republic of Moldova, 2015, No. 297-300, the Art. 544), parts (11) Art. 106 of the Law on insurance and reinsurance activity No. 92/2022 (The official monitor of the Republic of Moldova, 2022, No. 129-133, the Art. 229), parts (3) and parts (14) the Art. 13, parts (2) Art. 15 of the Law on the prevention and anti-money laundering and financing of terrorism 308/2017 (The official monitor of the Republic of Moldova, 2018, No. 58-66, the Art. 133) the Executive committee of National Bank of Moldova DECIDES:

1. Approve Regulations about requirements to the prevention and anti-money laundering and by financing of terrorism in activities of non-bank financial institutions it (is applied).

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

The Republic of Moldova of November 7, 2024 No. 280 is approved by the Resolution of Executive committee of National Bank of Moldova

Regulations about requirements to the prevention and anti-money laundering and financing of terrorism in activities of non-bank financial institutions

Chapter I. General provisions

1. The regulations about requirements to the prevention and anti-money laundering and financing of terrorism in activities of non-bank financial institutions (further - Regulations) are applied to reporting units, specified in the item e) and the item g) parts (1) by Art. 4 of the Law on the prevention and anti-money laundering and financing of terrorism No. 308/2017, and also to their departments and representations abroad (further - non-bank financial institutions), namely:

a) non-bank credit institutions;

b) savings and loan associations;

c) the insurers or overcautious persons and intermediaries in insurance and/or reinsurance performing activities within life insurance classes including with participation in investments.

2. Non-bank financial institutions apply these Regulations in business relations with the clients and when making transactions (payments) with them.

3. These Regulations establish requirements on: to the internal program, identification and assessment by non-bank financial institution of risks of money laundering and financing of terrorism; to application of precautionary measures concerning clients, including the simplified and strengthened precautionary measures; to the message on suspicious activities and transactions; to data storage; to introduction of the financial sanctions connected with terrorist activities and distribution of weapons of mass destruction.

4. The terms and expressions used in these Regulations have the values provided by the Law on the prevention and anti-money laundering and terrorism No. 308/2017, financing by the Law on insurance or reinsurance activity No. 92/2022, by the Law on non-bank credit institutions No. 1/2018, the Law on savings and loan associations No. 139/2007, the Law on National Bank of Moldova No. 548/1995, and also in the regulations of National Bank of Moldova and Service according to the prevention and anti-money laundering connected with area of the prevention and anti-money laundering and terrorism financing. Also for the purposes of this provision the following terms are used:

The essential transaction - transaction (transaction) exceeding the amount limit set in domestic policy of non-bank financial institution taking into account the risks connected with clients and the performed transactions;

single company ID (legal entity identifier) - the alphanumeric code which is consisting of 20 symbols, unambiguously identifying the legal entity, established according to ISO 17442.

Chapter II. Responsibility

5. The non-bank financial institution develops and realizes the internal program for the prevention and anti-money laundering and terrorism financing.

6. The non-bank financial institution has adequate internal control system for identification, assessment, monitoring and understanding of risks of money laundering and financing of terrorism. It undertakes necessary measures with attraction of sufficient resources for minimization and effective management of the revealed risks.

7. The non-bank financial institution bears responsibility for approval and effective implementation of the internal program for the prevention and anti-money laundering and financing of terrorism and activities compliance to legislation provisions in the field of the prevention and anti-money laundering and terrorism financing.

8. The non-bank financial institution appoints persons from among members of council and/or executive body, including persons occupying the highest leading positions / or the administrator to whom obligations on execution of requirements of regulations in the field of the prevention and anti-money laundering and terrorism financing, and also ensuring compliance of policy and procedures to these requirements are assigned.

9. Division of internal audit of non-bank financial institution or the subject of audit / the external auditor at least once a year carries out assessment of feasibility and compliance of activities of non-bank financial institution to the internal program for the prevention and anti-money laundering and terrorism financing. Results of assessment are transferred to administrators/members of council and/or executive body, and also, on demand, National Bank of Moldova.

Chapter III. Requirements to the internal program for the prevention and anti-money laundering and terrorism financing

10. The non-bank financial institution develops the internal program for the prevention and anti-money laundering and financing of terrorism according to provisions of the Law on the prevention and anti-money laundering and terrorism No. 308/2017, financing by these Regulations, regulations of Service according to the prevention and anti-money laundering published in pursuance of this Law taking into account the commonly accepted practice in this sphere including documents of the International group of development of financial measures of anti-money laundering (FATF). The internal program for the prevention and anti-money laundering and financing of terrorism is domestic policy, methods, practice, procedures and control measures, including rules of due discretion of clients which promote observance of regulations of ethics and professionalism in the non-bank sector and prevents use of non-bank financial institutions for the purpose of money laundering or financing of terrorism by organized criminal groups or their accomplices. This program shall guarantee that transactions are carried out safely and reasonably.

11. In case of development of the internal program the size, complexity, nature and amount of activities of non-bank financial institution, types (categories) of clients, degree (level) of the risk connected with various clients or their categories and the transactions performed by them, agents and departments through which they perform the activities are considered. The internal program affirms the nominated person holding the highest executive position, the compliance officer of policy and procedures of non-bank financial institution to requirements of the legislation for the prevention and anti-money laundering and terrorism financing.

12. The internal program for the prevention and anti-money laundering and financing of terrorism provides, but is not limited to the following:

1) obligations of members of council, executive body, including the responsible persons holding the highest executive positions, and/or the administrator of non-bank financial institution containing at least:

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