Moldovans to be able to exchange currency only with ID card

Chisinau, Aug. 17 /MOLDPRES/- When carrying out foreign exchange operations, regardless of the amount, it will be mandatory to present identity documents. The Parliament voted today in the first reading a draft amending the Law on preventing and combating money laundering and financing terrorism, a legislative initiative of MP Radu Marian.

Under the draft, the threshold of 10,000 lei up to which currency exchange operations could be carried out without presenting identity documents is removed.

Data of the identity documents when performing the currency exchange will be recorded by the currency exchange unit. This will allow financial institutions to monitor transactions made by customers. The data may be useful in the investigation of suspicious transactions and may contribute to the identification of money laundering or terrorist financing schemes.

The author of the legislative initiative mentions that presenting an identity document when exchanging currency is a common practice in many countries around the world, being supported by legislation to prevent money laundering and combat the financing of terrorism.

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