The National Bank of Moldova has published its supervisory priorities for 2025 for non-bank payment service providers under a risk-based approach, focusing on compliance with the regulatory framework and the effectiveness of internal control and risk management arrangements. Supervision in 2025 will prioritise ownership structure and governance, including the quality of ownership, organisational structure and segregation of responsibilities, independence of control functions, transparency of decision-making, internal controls, and the adequacy of own funds and regulated capital in light of the provider’s business model. The central bank will also intensify its focus on operational risk in payment services and electronic money issuance, particularly as open banking is implemented in 2025, covering safeguarding of users’ funds, operational resilience in financial market infrastructures, third-party contractual relationships, strong customer authentication for remote electronic payment instruments, and ICT security against cyber threats. A third priority is anti-money laundering and counter-terrorist financing, including entity-specific risk identification and assessment, risk-based customer due diligence including for higher-risk clients, suspicious transaction reporting, internal policies and procedures to implement international restrictive measures, and the effectiveness of internal controls.
National Bank of Moldova 2025-01-27
National Bank of Moldova sets 2025 risk-based supervision priorities for non-bank payment service providers
The National Bank of Moldova's 2025 supervisory priorities for non-bank payment service providers emphasize a risk-based approach. Key areas include governance, operational risk, and anti-money laundering measures, focusing on compliance, internal controls, and ICT security amid open banking implementation. The central bank aims to enhance oversight of ownership structures, operational resilience, and customer due diligence.