The European Commission decided on Thursday to initiate an infringement procedure by sending an official letter of formal notice to Romania and an additional letter of formal notice to Slovakia for incorrect transposition of the 4th and 5th Anti-Money Laundering Directive 2008/98/EC (4th and 5thAMLD), according to a statement issued by the EU executive.Romania and Slovakia have notified full transposition of the Directive. However, the Commission has identified several cases where the Directive has not been correctly transposed into national law. In the case of Romania, this failure affects, among other things, fundamental issues such as the existence of an effective penalty regime when incorrect data are entered in the national register of beneficial owners.Anti-money laundering regulations are essential in the fight against money laundering and terrorist financing. Legislative loopholes that occur in one Member State have an impact on the EU. EU rules should therefore be effectively implemented and supervised to fight crime and protect our financial system, says the European Commission.In the absence of satisfactory replies from Romania and Slovakia within two months, the Commission may decide to continue the infringement procedure and send a reasoned opinion.
Salt Bank, the first 100% digital Romanian bank built entirely from scratch, has been named by Celent as the 2025 Model Bank for Digital Bank Launch. Celent is one of the world’s most prestigious research and advisory firms focused on technology for financial institutions. By receiving the title of "2025 Model Bank for Digital Bank […]
The 8th edition of the national educational program “Healthy Lifestyle, Diverse Nutrition and an Eco-Responsible Attitude” under the motto “Good for Taste, Good for Health, Good for the Planet!” has concluded. The program was organized by the Taste Celebration Association and funded by the Auchan Foundation with 100,000 euros. The program aims to convey to […]
Romania's budget deficit, meaning the gap between revenues and expenditures, reached 3.39% of GDP after the first five months of the year, while the new government grapples with balancing initiatives. The deficit increased compared to the first four months, when it stood at 2.95% of GDP, and remained roughly stable compared to the first five […]
eLog, a Balkan-based provider of reusable transport packaging systems for the retail sector, has entered the Romanian market by leasing 4,000 sqm of warehouse and office space at CTPark Bucharest North. The facility, developed by CTP, will serve as eLog’s first operational hub in Romania, supporting its expansion into local retail logistics. Specializing in Retail […]
More than three-quarters of Romanians (76%) see Artificial Intelligence as an opportunity for the economy and society, although half of them also acknowledge its risks, according to a new RoCoach and Novel Research study. Overall, over one-third of respondents (35.7%) believe that AI will primarily lead to job losses, even if new types of roles […]
Prosecutors with Romania's General Prosecutor's Office have formally changed the legal status of former presidential candidate Călin Georgescu from suspect to defendant, judicial sources told Agerpres on Friday, June 27. The decision comes after Georgescu quoted Corneliu Zelea Codreanu, the leader of...
