Moldova to require ID for all currency exchange transactions
The Moldovan parliament has voted in favour of a law that would require people to present identification documents for all currency exchange transactions, regardless of the amount.
The law was passed in the first reading on Thursday and still needs to be approved in a second reading.
The move is aimed at preventing money laundering and terrorist financing.
Currently, people in Moldova are only required to show identification documents for currency exchange transactions over 10,000 lei (about $500).
The new law would remove this threshold, meaning that people would have to show their ID for all currency exchange transactions, regardless of the amount.
The law is also expected to make it easier for financial institutions to monitor currency exchange transactions.
This could help to identify suspicious transactions and prevent money laundering and terrorist financing.
The law is expected to come into force in the coming months.
