Anti-money Laundering Law

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Description

RBA intends to propose an amendment to the AML law to ease the reporting burden and to improve the interaction with the AML authority while complying with the provisions of the EU Third Directive.

Impact Drivers

  • Public: To optimize the trade-off between AML aims and cost of regulation
  • Private: To improve accounting and reporting systems

Economics

In Romania, currently, 40% of the reported cash transactions take place either among banks or between banks and NBR.

SPI Committee Involvement

To keep under senior oversight the impact of the current AML regulatory framework on the banks' operational costs and ability to serve their clients, while remaining in compliance with the EU Third Directive.Additional information SPI Committee.

Working Group

Petre Bunescu

Project Owner (PO), Vice President Romanian Banking Association

Doru Bulata

Alis Avramescu

Project Manager , Executive Director Banca Comerciala Romana

Deputy Director, National Bank of Romania

Paula Lavric

Deputy Project Managers (DPM), State Secretary Anti-Money Laundering Office

Members

 

Liana Tudorescu

Manager, Bancpost

Victoria Preoteasa

Manager, OTP Bank

Magdalena Calangiu

Manager, Finansbank

Constantin Jumuga

Banca Romana Dezvoltare- GSG

Sergiu Bogea

Compliance Officer, Unicredit Bank Romania

Magdalena Scrieciu

Advisor, Ministry of Public Finance

Simona Butoi

Expert, Ministry of Public Finance

Isabelle Chelariu

Legal Advisor, National Bank of Romania

Terms of Reference

Regulatory Impact Assessment

Enactment Activities

SPI Committee Documents

Technical Documents

Project Working Group Meetings