National Bank of Moldova proposes new banking and AML regulations

The National Bank of Moldova (NBM) has launched public consultations for new regulatory frameworks aimed at aligning national banking standards with European Union requirements. The proposed changes focus on enhancing transparency and strengthening measures to prevent money laundering and terrorist financing.

One key provision requires Moldovan banks and their foreign branches to report data on high-earning employees. Specifically, any staff member receiving an annual remuneration of at least 1 million Moldovan lei—including salaries, bonuses, long-term payments, and pension contributions—must be identified. Once Moldova adheres to its EU accession treaty, this data will be transmitted to the European Banking Authority.

Additionally, the NBM is updating recommendations regarding risk-based approaches to transaction monitoring and cross-border relationships. These updates seek to replace outdated guidelines and ensure the national methodological framework meets international standards following recent national risk assessments.