AML Audit for Notaries in Romania - Legal Obligations and ONPCSB Inspection
Notaries public are among the reporting entities defined by Law no. 129/2019. Notarial activity involves high-risk transactions (real estate, inheritance, transfers), which is why AML compliance is essential.
Who Must Undergo an AML Audit as a Notary
Notaries must: implement internal AML procedures, carry out a risk assessment, appoint an AML officer, apply KYC measures, and report suspicious transactions to ONPCSB.
What ONPCSB Checks at a Notary Office
Inspectors may request: up-to-date internal AML procedures, a documented risk assessment, the suspicious transaction register, and proof of staff training.
Is an AML Audit Mandatory for Notaries?
The law requires implementing an internal AML prevention system. Periodic audits are recommended to demonstrate compliance and reduce sanction risk.
What a Notary Risks in Case of Non-Compliance
ONPCSB may apply warnings, administrative fines, mandatory corrective measures, and publication of the sanction.
Conclusion
An AML audit for notaries in Romania is an essential part of legal compliance. Periodically reviewing internal procedures is a matter of professional prudence and responsibility.
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