English
Tax evasion remains the main method for money laundering, as it has been identified in 79% of all cases, Florin Dănescu, the executive president of the Romanian Banking Association (ARB) said.
The areas where this activity is encountered the most frequently, are foreign trade, domestic trade, real estate, services, investments, the financial sector and the banking sector, he explained, during the conference "Romania, where to? Financial and IT crime in the 21st century. Legal requirements, real challenges".
The ARB official said that the activities to prevent money laundering and the risks of fraud and information security are topics which are constantly an object of concern for the organization he leads. "Information is a vital resource and its confidentiality needs to be maintained", he stressed.
The individual requirements to protect the information of every bank are accompanied by the need to ensure the overall security of the banking system, he explained. In order to handle these requirements, the banking community got involved in many ways, including through legislative amendment proposals, as banks are the main reporting institutions to the National Office for the Prevention and Fighting of Money Laundering (ONPCSB), the executive president of the ARB said.
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