Primary source company intelligence via Know Your Business (KYB) Solution


Romania's AML/CTF supervisors

The National Office for Prevention and Control of Money Laundering (ONPCSB)

According to the guidelines of Law No. 129/2019 on the prevention and sanctions of money laundering and terrorism financing, the National Office for Prevention and Control of Money Laundering (ONPCSB) is the designated financial information unit with the power to gather, store, investigate, analyse, and disclose the conducted financial intelligence (AML law).

The National Office for Gambling, the Financial Supervisory Authority, and other agencies also keep an eye out for adherence to important requirements under the AML law.

How do you comply with AML/CTF regulations in Romania?

  1. Identify the customer and confirm their identification
  2. Determine who the true beneficiary is and take reasonable measures to confirm their identification
  1. Obligation to keep all records generated by client due diligence procedures for a period of 5 years following the end of a commercial relationship or the date of a one-time transaction
  2. Duty to keep supporting records and transactional information for 5 years after the end of a commercial connection or 5 years after a single transaction
  1. Measures that customers can enforce for due diligence
  2. Retention guidelines that can be enforced for reports, records, and all documents
  3. Measures for managing compliance, communication, risk assessment, and management that are enforced internally
  4. Enforceable steps to safeguard the internal staff involved in implementing these policies from any threats or hostile or discriminatory behaviour.
  5. Regular employee training