Representatives of several civil society organisations gathered at an event organised by the Legal Resources Centre from Moldova (LRCM) to discuss the 2022 National Risk Assessment Report in the field of money laundering and terrorist financing.
The event discussed, as a matter of priority, the risks affecting non-commercial organisations and how to implement Recommendation No. 8 of the Financial Action Task Force (FATF) of the Council of Europe, which makes it mandatory to consult civil society in national risk assessments.
“It is important for bona fide civil society organizations to be involved and consulted in processes aimed at assessing risks related to money laundering and terrorist financing. For these reasons, the LRCM monitors both the risk assessment of non-commercial companies and legislative initiatives in this area”, said Oxana Brighidin, legal officer at the LRCM.
The risks targeting civil society organisations in the area of money laundering and terrorist financing were presented by the Head of National and International Cooperation Service, Office for Prevention and Fight against Money Laundering, Valeria Secaș.
She came up with several recommendations, including promoting a culture of security and increasing the involvement of the non-profit sector in policies to prevent and combat money laundering and terrorist financing.
“Working with cash in non-commercial organisations poses the greatest risks and can pave the way for money laundering. This phenomenon can manifest itself through a lack of proper bookkeeping, vague accounting of donations and expenses”, said Galina Bostan, president of the Centre for Analysis and Prevention of Corruption.
The cooperation between civil society organisations and public authorities to assess national money laundering and terrorist financing risks is essential to understand the risks faced by non-commercial organisations and to identify the most effective mitigation solutions. The event aimed to strengthen this cooperation.
This event was organised with the financial support of the European Union in the framework of the project “Shields for human rights defenders – Supporting Human Rights Defenders in the Republic of Moldova”, implemented by the Legal Resources Centre from Moldova (LRCM). The content presented is the sole responsibility of the LRCM and does not necessarily reflect the views of the European Union.