namedate of birthidentity cardpassport
namesurnamecitizenshipdate of birthidentity cardpassport
nameidentificationdate of birth
Carte de identitate
Law on the Electronic Signature
2012
2002. Law no. 656/2002 with its subsequent amendments, together with Guidance Notes issued through the Government Decision
No 496/2006 set out the local regulatory framework for the prevention and sanctioning of money laundering, as well as for establishing
measures for the prevention of and fight against financing terrorist acts, with subsequent amendments in 2006, 2007, 2008, 2009, 2010,
2011 and 2012.
The National Office for Prevention and Control of Money Laundering
www.onpcsb.ro
National Bank of Romania, National Insurance Commission, National Securities Commission, Private Pension System Supervisory Commission
www.bnr.ro, www.csa-isc.ro, www.cnvmr.ro, www.csspp.ro
N/A
The National Office for Prevention and Control of Money Laundering organizes at least once a year training seminars regarding prevention of money laundering and of financing of terrorist acts.
No
No
Yes
Yes - transactions below EUR 15, 000.
need to provide the following details;
a) name;
b) surname;
c) citizenship; and
d) date of birth.
These details are normally verified by an identity card or passport.
need to provide the following details;
a) name;
b) identification; and
c) names and dates of birth of individual members of the statutory bodies (such as board of directors) or administrators.
eneficial owners are subject to the following requirements: a) identification of beneficial owners and the verification of their identity by taking risk-based and adequate measures; b) gathering of information on the purpose and nature of the established business relationship; and c) conducting continual monitoring of the business relationship with the respective customer.
Enhanced due diligence measures are required in the following cases: a) non face-to-face transactions; b) in the case of correspondent relationships with credit granting institutions from non-EU countries and those countries that are not part of the EEA; c) transactions or business relationships with politically exposed persons who are resident in another EU member state or in the EEA, or in non-EU countries or countries outside the EEA; and d) in any other cases where it is considered that due to their nature a high risk in respect of money laundering and financing of terrorist acts is present.
Additional due diligence is required for transactions or business relationships with PEPs who are resident in another EU member state or in
the EEA, or in non-EU countries or countries outside the EEA.
Enhanced due diligence must be performed for cross-border correspondent banking relationships with credit institutions in third countries
Yes - the law specifies that credit institutions will not enter into correspondent relationships with a fictitious bank or with a credit institution
where it is known that it allows a fictitious bank to use its accounts.
Additional due diligence is required for all non face-to-face transactions.
The National Office for Prevention and Control of Money Laundering
http://www.onpcsb.ro/html/english.php
No
EUR15,000
Non-compliance is considered a misdemeanour and certain sanctions may be applied for non compliance, ranging from fines to the closure the entity breaching its obligation to report.
Yes. There are regulatory requirements, applicable only to banks and other financial institutions.
Yes
Local persons who are obliged to report suspicious transactions may rely upon the KYC checks made by ‘third parties’ (banks and financial institutions) from other Member States or from third countries applying KYC rules similar equivalent to Romania there in.
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
CMVM, ISP
2011
due diligence
The Identity card s the document issued to every Romanian fullness at 14 years of age (it is compulsory at 14). The only exemption are Romanian citizens domiciled abroad.
https://en.wikipedia.org/wiki/Romanian_identity_card
No
Yes
Yes
NOPCML
Yes
Yes
EUR 15,000.
16377
Real estate and labor agreements require a digital signature.
Yes, electronic signatures may be used, even if the parties did not initially express a desire to use them. This consent may be communicated verbally or in writing.
Summary of law
Romania follows the European Union in that its laws provide for the enforcement of both simple electronic signatures and digital signatures (sometimes called advanced electronic signatures). It is considered a two-tier jurisdiction because it gives digital signatures the same status as handwritten signatures but also recognizes simple electronic signatures as legal and enforceable. Countries that follow this model give companies the opportunity to select different forms of signatures and customize their business processes based on the form that is most convenient and appropriate for each use case.
N/A
National Office for Prevention and Control of Money Laundering
Yes - the 2008 amendments established the standard, simplified and enhanced customer due diligence rules and procedures.
Copies of provided documents can be certified by a notary public.
N/A
N/A