AML Romania - Complete Guide for Companies
AML Romania - Complete Guide for Companies
If you have a company in Romania, you very likely have AML obligations - even if you're not aware of them. AML (Anti-Money Laundering) means preventing money laundering and is regulated by ONPCSB.
What AML Obligations You Have as a Company
1. AML Documentation - you need clear procedures, tailored to your activity. 2. Customer Identification (KYC) - you need to verify identity and understand the beneficial owner. 3. Transaction Monitoring - you must identify situations that raise red flags. 4. Reporting Suspicions - when a suspicion arises, you must act.
What ONPCSB Checks
During an inspection, authorities check whether you have real procedures, correctly apply KYC, and can justify your decisions.
AML Fines in Romania
Fines can reach 25,000 to 150,000 lei for legal entities, plus up to 10% of total reported revenue. But the main problem is that you can't demonstrate compliance.
Conclusion
AML in Romania isn't complicated, but it is strict. Without real procedures, correct application, and clear documentation, you're exposed to risk.
If you're not sure your company meets its legal obligations, an AML audit in Romania is the recommended first step.
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