ONPCSB ORDER No. 215/2023 for the approval of the Regulation on the registration of the reporting entity in the records of the National Office for the Prevention and Combating of Money Laundering was published in the Official Gazette no. 764/24.08.2023.

Starting with the effective date of this order, the Regulation on the registration of the reporting entity in the records of the National Office for the Prevention and Combating of Money Laundering, provided in the annex that is an integral part of this order, is approved.

The order enters into force on November 7th, 2023!

This regulation establishes the method of registration of the reporting entities in the records of the National Office for the Prevention and Combating of Money Laundering, by applying the procedure for creating a reporter account necessary for the transmission of the reports provided for in art. 6 and 7 of Law no. 129/2019 for preventing and combating money laundering and terrorist financing, within the ONPCSB reporting portal.

Which entities are covered by this regulation:

a) Romanian legal entity credit institutions and branches of foreign legal entity credit institutions;

b) Romanian legal entity financial institutions and branches of foreign legal entity financial institutions;

c) administrators of optional and/or occupational pension funds, in their own name and for the optional pension funds and/or occupational pension funds they administer, with the exception of professional occupational pension houses;

d) gambling service providers;

e) auditors, accounting experts and authorized accountants, authorized appraisers, tax consultants, persons who provide financial, business or accounting consultancy, other persons who undertake to provide, directly or through other persons with whom that person is affiliated, material aid, assistance or consultancy on fiscal, financial aspects, as the main economic or professional activity;

f) notaries public, lawyers, bailiffs and other persons practicing liberal legal professions, in case they provide assistance for the preparation or completion of operations for their clients regarding the purchase or sale of immovable property, shares or social parts or elements of the fund trade, management of financial instruments, securities or other assets of clients, operations or transactions involving an amount of money or a transfer of property, setting up or managing bank accounts, savings or financial instruments, organizing the subscription process of contributions necessary for the establishment, operation or administration of a company; the establishment, administration or management of such companies, collective investment bodies in securities or other similar structures, as well as in the event that they participate on behalf of or for their clients in any operation of a financial nature or concerning real estate; the creation, operation or administration of trusts, companies, foundations or similar structures;

g) service providers for companies or trusts, other than those provided for in letter e) and f);

h) providers of exchange services between virtual currencies and fiat currencies;

i) providers of digital wallets;

j) real estate agents and developers, including when they act as intermediaries in the rental of real estate, but only with regard to transactions for which the amount of the monthly rent represents the equivalent in lei of 10,000 euros or more;

k) other persons who, as professionals, sell goods, only to the extent that they carry out cash transactions whose minimum limit is the equivalent in lei of 10,000 euros, regardless of whether the transaction is executed through a single operation or through several operations which are related to each other;

l) persons who sell works of art or who act as intermediaries in the trade of works of art, including when this activity is carried out by art galleries and auction houses, if the value of the transaction or a series of transactions related to each other represents the equivalent in lei of 10,000 euros or more;

m) persons who store or sell works of art or who act as intermediaries in the trade of works of art, when this activity is carried out in free zones, if the value of the transaction or of a series of transactions related to each other represents the equivalent in lei or 10,000 euros or more.

What reports must be submitted by these entities:

• suspicious transactions report; Reporting entities are obliged to send a report to the Office if they know or suspect that the goods in a transaction come from the commission of crimes or are related to the financing of terrorism or the information that the entities hold can be used to enforce the law preventing and combating money laundering and terrorist financing;
• the report of cash transactions, in lei or in foreign currency, the minimum limit of which is the equivalent in lei of 10,000 euros, including operations that have a link between them, for banking and non-banking entities;
• the report of external transfers, to and from accounts, in lei or in foreign currency, the minimum limit of which is the equivalent in lei of 10,000 euros, regardless of whether the transaction is carried out through a single operation or through several operations that are related to each other, for credit institutions and financial institutions;
• the report on fund transfers for money remittance activity, the minimum limit of which is the equivalent in lei of 2,000 euros.

According to the new regulation, all these reports will be made through the reporting system made available by ONPCSB. The procedure for creating a user account in the ONPCSB reporting portal is presented in the annex which is an integral part of the regulation.

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