Project Agreement Anti-Money Laundering and Combating Financing of Terrorism Signature

Press release, 22.04.2014

Switzerland provides CHF 2’150’500 to improve the financial intelligence analysis capacity of the National Office for Prevention and Control of Money Laundering (NOPCML) – the Romanian Financial Intelligent Unit (FIU).

The Project Agreement was signed on 22 April 2014 by the Ambassador of Switzerland, Jean-Hubert Lebet, and Ms Ioana Petrescu, Minister for Public Finance, in the presence of the representatives of the Swiss Contribution Office Romania and the National Coordination Unit of the Swiss-Romanian Cooperation Programme. The event took place at Ministry of Public Finance in Bucharest. Through this project, Switzerland aims at strengthening the Romanian AML/CFT institutional system by enhancing efficiency of the reporting and of analysis capabilities of financial intelligence data of the national system of prevention and combating money laundering and terrorist financing, through software and high IT technology, dedicated to the analysis of the financial information and by strengthening the professional capacity of main involved actors.

The project will be implemented by NOPCML as Executive Agency (EA). The total budget of the Project is CHF 2’530’000, including the co-financing from Romanian sources of 15% of the total eligible costs of the Project, amounting to CHF 379’500. The project will last two years from the date the Project Agreement (PA) has been signed and responds to the existing Romanian National Strategy on Combating Money Laundering and Terrorism Financing and also of the relevant policies with impact in these specific domains. The direct beneficiary is NOPCML as the institution responsible for the implementation of the project, as well as reporting entities, law enforcement authorities and supervision bodies. The indirect beneficiary is the general public in Romania.