Moldova could exchange data with other countries to verify asset declarations. International treaty signed in Chisinau

Moldova signed on Monday 23 October the International Treaty on the exchange of data for the purpose of verifying asset declarations. It will allow the authorities in Chisinau to verify “more thoroughly” the veracity of the data in the asset declarations, said Justice Minister Veronica Mihailov-Moraru.

According to the justice minister, the signed document is a mechanism for regional cooperation between the signatory states to verify the asset declarations of public officials.

“Increasing the efficiency of the judicial system and fighting corruption are the priorities on which Moldova is concentrating its efforts because it is corruption that hinders the development of the state and undermines the efficient functioning of the state. Our intention is to create an appropriate legal and institutional framework so that the highest standards of ethics and integrity are applied.

In Moldova, as in most countries, high dignitaries and civil servants are obliged to submit declarations of assets and interests (…). Although the law, including in Moldova, has for many years provided for the obligation to declare movable and immovable assets, both within the country and abroad, we note many situations where the subjects of the declaration do not do so. The treaty we signed today is a mechanism for regional cooperation and will serve as a tool for state institutions to request and transmit data on the assets of persons between the signatory states, which is a guarantee of simplification of existing procedures and a reduction of time, effort and resources of state authorities”, said Veronica Mihailov-Moraru at the press conference after the signing of the Treaty.

The President of the Regional Anti-Corruption Initiative (RAI) Laura Ștefan, who was in Chisinau for the signing of the document, noted that the Treaty was signed by the first three countries in March 2021: Montenegro, North Macedonia and Serbia, which is also the depositary of the document,

“Today I believe we are taking another step forward by giving institutions the real tools to access databases from other jurisdictions. We look forward to hearing about the ratification of the Treaty,” said Laura Stefan.

Under the Treaty, the data that parties can exchange includes information taken from databases maintained by public authorities or private entities on taxes, bank accounts, financial securities, activities, companies, trusts and foundations, as well as legal agreements and similar entities, real estate, motor vehicles and other mobile equipment and intellectual property rights.

The original Regional Anti-Corruption Initiative (RAI) was adopted in February 2000 in Sarajevo as the Stability Pact Anti-Corruption Initiative (SPAI) with the aim of redressing corruption in South Eastern European countries.

Today, the Initiative comprises 9 member states in the region: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Montenegro, Moldova, Romania and Serbia plus an observer – the UN Mission in Kosovo, all of them providing an overall framework for coordination, optimisation of efforts and continuous dialogue with the partner community involved in the fight against corruption.