Draft Law on Anti-Money Laundering and Countering Financing of Terrorism – Source of Economic Stability or Instability?
Draft Law on Anti-Money Laundering and Countering Financing of Terrorism – Source of Economic Stability or Instability?

Author(s): Sergiu Gaibu
Contributor(s): Natalia Conovca (Translator)
Subject(s): Economy, Financial Markets, Corruption - Transparency - Anti-Corruption
Published by: EXPERT-GRUP Centrul Analitic Independent
Keywords: Money Laundering;
Summary/Abstract: The aim of this note is to provide recommendations on improvement of the draft law as well as of the certain elements of mechanisms present in Moldova on preventing and combating money laundering, so that to protect the fundamental rights, proper functioning of the business environment and to preserve a rational approach to prevention and combating the money laundering phenomenon. It is vitally important to understand the general context and the role of prevention and combating money laundering in such context. The primary goal of modern societies and states is to eradicate organized crime, drug trafficking, human trafficking, organ trafficking and illegal arms trafficking. In this context the international community developed services to identify and fight these crimes. Once the technologies were developed and the financial flows enhanced, it became obvious that the criminals’ ultimate goal is to bring the enormous income back into the legal ‘white’ circulation. And after realizing this fact, the combating of money laundering was organized and the money laundering activity was incriminated to attack the results of illegal activity.

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