Law No. 86/2025, published in the Official Gazette No. 483 on May 23, 2025, amends Law No. 129/2019 on the prevention and combating of money laundering and terrorist financing. The main focus is strengthening the legal framework to combat money laundering while ensuring the protection of fundamental rights and professional secrecy, under the coordination of the National Office for the Prevention and Combating of Money Laundering (ONPCSB).
Key provisions:
- National Risk Assessment Coordination: ONPCSB becomes the central authority for coordinating and conducting national risk assessments.
- Protection of Personal Data and Professional Secrecy: Emphasis is placed on the protection of personal data and legal professional privilege (especially for lawyers).
- Information Sharing: ONPCSB is tasked with disseminating risk assessment results to reporting entities and relevant authorities.
- Alignment with International Standards (MONEYVAL and FATF): Amendments are designed to align Romania’s legislation with international recommendations.
Other key measures:
- CDD (Customer Due Diligence) is required for crypto asset transactions from 1,000 EUR.
- Anonymous products and services (accounts, prepaid cards, safe deposit boxes) are prohibited.
- Former PEPs must be monitored up to 2 years after leaving office.
- Gambling operators and currency exchange offices must monitor transactions starting from 2,000 EUR.
- Financial institutions must assess risks of new products and technologies before deployment.
- Mandatory reporting of suspicious transactions if a PEP is the life insurance beneficiary.
- Staff training and hiring checks are required.
- Associations and foundations vulnerable to terrorist financing are to be risk-monitored.