This will include service providers in the fields of crypto-assets, investment migration and crowdfunding, traders in cultural and high-value goods, as well as football clubs and coaches. The State Public Finance and Tax Control Authority (SPCSB) will be responsible for registering reporting entities and maintaining the register.
It is also proposed to introduce requirements for vetting the reputation and competence of persons holding senior management positions, as well as the beneficial owners of certain categories of reporting entities.
The new draft Law on the Prevention and Combating of Money Laundering and Terrorist Financing has been drawn up by the Service for the Prevention and Combating of Money Laundering. To ensure harmonisation as part of the European integration process, it incorporates provisions from relevant European legislation.
The draft updates and expands the toolkit used in this area. New concepts are introduced, such as a virtual IBAN or special financial sanctions, etc. It also clarifies definitions relating to cash, beneficial owners, politically exposed persons, etc.
Another chapter of the new legislation will regulate the procedure for identifying beneficial owners and set out obligations regarding the collection of information.
The draft also provides for an obligation to register the beneficial owners of foreign legal entities and legal arrangements carrying out certain types of activities within the territory of Moldova.
Follow our updates
Have information for the newsroom? Share it with Logos-Press
