New methods for fighting money laundering and terrorist financing

The Government approved a new national strategy for preventing and combating money laundering and terrorist financing for 2010- 2012. The main objective of the new document is to identify and reduce the financial, banking and non-banking sectors' vulnerability to abuse and to join the efforts of all the involved state institutions, Info-Prim Neo reports. According to Viorel Chetraru, the head of the Center for Combating Corruption and Economic Crime, the national system for preventing and fighting money laundering had been considerably improved in 2007-2008. Cooperation with the specialized institutions and law enforcement bodies in identifying related offenses became better. The technical and financial assistance in the field provided by the Council of Europe and the European Commission was used more efficiently. But the methods of combating money laundering become more subtle over time and need to be adjusted yearly. The plan of action for 2010 approved by the Government includes measures aiming at seven areas and was agreed with 13 relevant institutions. The measures are designed to discover delinquent companies and new methods of money laundering, assess the underground economy, systematize the legal practices for preventing and combating money laundering and terrorist financing, and monitor the examination of the criminal cases. Other measures are aimed at improving the legal framework and regulations in the field and adjusting them to the international standards and recommendations made by the MONEYVAL, FATF and other international organizations and at better informing civil society about the results achieved.