Launch of the CCIA report on the factors that contributed to systemic fraud and money laundering in the banking, insurance and financial sector in Moldova

The Independent Anti-Corruption Advisory Committee (CCIA) invites you to the launch of the first report: “Offshore Republic: analysis of the factors that contributed to systemic fraud and money laundering in the financial-banking and insurance sector in the Republic of Moldova.”

The CCIA is an independent structure whose members are international and national experts. It was established in June 2021 by a presidential decree. The Committee’s mission is to analyze the systemic issues of large-scale corruption affecting state institutions and to improve their capacity to implement anti-corruption measures. The committee analyzes factual information and prepares reports in which it provides recommendations for optimizing the effectiveness of anti-corruption efforts in the country. Subsequently, the Committee evaluates the degree of implementation of the recommendations by the state institutions and the actors concerned, making public its assessments.

The CCIA’s first report presents a comprehensive analysis of corruption in the financial, banking and insurance systems, seen in the broader context of systemic fraud in these sectors, embezzlement and money laundering. The publication lists the important players in these schemes and illustrates how Moldovan courts have been used to change the owners of banks and insurance companies.

The report also includes clear and specific recommendations on the reforms needed to strengthen the capacity of institutions, increase transparency in their work, change legislation, improve the procedure for appointing heads of institutions with anti-corruption mandates, streamline cooperation between institutions, etc.

The key findings of the report will be presented by CCIA co-chairs James Wasserstrom and Tamara Razin.

James Wasserstrom is an American diplomat who has uncovered corruption schemes in international institutions and worked as an anti-corruption expert at the US embassy in Afghanistan.

Tamara Razin is an expert in macroeconomics and international finance, with 14 years of work experience at the International Monetary Fund. Previously, he worked for 15 years at the National Bank of Moldova.

The event will take place on July 13, between 10:00 and 11:00, at Radisson Blu Hotel, Begonia Hall, 2nd floor (77 Mitropolit Varlaam Street, Chisinau). Registration for the event starts at 9:30.

Translation from English to Romanian will be provided. The event will be broadcast live on and on the CCIA’s Facebook page.

Relevant articles

Independent Anti-Corruption Advisory Committee