Romania: By January 17, the new reports to the ONPCSB must be made. Official areas for accountants, auditors and other consultants have emerged



The National Office for the Prevention and Combating on Money Laundering (ONPCSB) has provided clarifications as regards reporting on obligations under the new law, the clarification which covers official areas for accountants, auditors, and other consultants requires that the appointment of a person should be carried out electronically via institution website, and a person who pioneers a transaction of at least 10,000 euros do not have the obligation to appoint a person in relation to the office. It was also stated that reporting entities who have obligations under the law include credit institutions Romanian legal entities, the branches of the foreign legal entities, the administrators of private pension fund, providers of gambling services, auditors, accountants, and other professionals, notaries public, lawyers, executors and other liberal legal professions, service providers for companies, real estate agents, and other professionals and traders who carry out transaction equivalent of 10,000 euros.

The obligations provided by the law must be fulfilled by the respective entities and not auditor or accountant. And the reporting obligations of reporting entities according to Law No. 129/2019 include reporting suspicious transactions, reporting transaction with amounts in foreign currency with a minimum limits equivalent of 10,000 euros., reporting external transfers to and from accounts, in foreign currency in a minimum limit of 15,000 euros., reporting funds who minimum limit in lei of 2,000 euros, made exclusively by the entities by which remittance is done.