On June 13, the Parliamentary Committee for National security, defense and public order organsied public consultations on the Draft Law on Preventing and Fighting Money Laundering and Terrorism Financing. Among the participants at the discussions were representatives of public authorities, civil society, financial institutions and business associations.
Among the draft provisions were listed the presentation of identity cards for cash exchange operations, recording of identity data, retention period of transaction-related data, competences of authorities, precautionary measures, guarantees and sanctions. The main concerns identified in the EBA Position Paper on the draft law, referred to the need of setting-up a clear mechanism for sanctions application taking account of the principle on individualization of penalties.
The final draft is to be debated and voted in the final reading, by the Parliament’s plenary.