About 35 professionals from audit and financial sector representing the Association of Auditors and Audit Societies of the Republic of Moldova benefitted from a training session on Anti-Money Laundering and Combating the Financing of Terrorism related to audit activities, organised by the EU High Level Advisers’ Mission in close cooperation with the Financial Intelligence Unit of the National Anticorruption Centre and the Association of Auditors and Audit Societies of the Republic of Moldova (AFAM) on 2nd November.
The purpose of this event was to explain the requirements of the 4th EU AML/CFT Directive and describe the changes in auditors’ reporting regime that will occur as the new AML/CFT Law enters into force, as well as to measure the impact of these particular changes. This action is meant to set up a better understanding on identification and use of suspicion criteria for the analysis of money laundering and terrorism financing attempts that can be identified by auditors, as well as to ensure that the FIU and the auditors and/or audit companies work together and that the communication and co-ordination of resources is well organised.
EU High Level Adviser in the field of Anti-Money Laundering Igoris Krzeckovskis, moderator and trainer at the event, explains in this respect that the EU and the national Anti-Money Laundering and Combating the Financing of Terrorism regime is a very complex and multi-level mechanism, which includes many participants, supervisory authorities and reporting entities. One of the provisions of the current AML/CFT regulation stipulates that the auditors and the audit companies as reporting entities are obliged to report the identified suspicious transactions and/or activities. At the same time the high risks and vulnerabilities of Money Laundering and Terrorism Financing highlights the importance of cooperation between the Financial Intelligence Unit (FIU) of the Republic of Moldova and individual auditors and/or audit companies, in order to ensure the good quality of legal culture and a sound preparation for proper performance of the public and private interests related to AML/CFT measures.
