The International Monetary Fund (IMF) has pledged support to Moldova in its investigation into bank fraud and the misappropriation of over a billion dollars from the country's national banking system in 2014, Moldova's National Anti-Corruption Center (NAC) said
CHISINAU (Pakistan Point News / Sputnik - 20th September, 2019) The International Monetary Fund (IMF) has pledged support to Moldova in its investigation into bank fraud and the misappropriation of over a billion dollars from the country's national banking system in 2014, Moldova's National Anti-Corruption Center (NAC) said."The IMF will support the National Anti-Corruption Center in its investigation into bank fraud as well as recovering money that was stolen during the devaluation in the financial sector. Volodymyr Tulin, the IMF's representative in Moldova, made the corresponding announcement during his visit to the NAC," the center said in a statement.
The IMF has pledged to assist the center, within the limits of its competences, in the process of identifying and repatriating fraudulently misappropriated funds, Tulin said.
He added that the center would additionally seek to cooperate with other institutions responsible for fiscal and banking procedures to ensure maximum transparency in its activities.
In 2014, it emerged that three banks Banca de Economii, Banca Sociala and Unibank that together owned almost a third of the country's banking assets extracted about $1 billion abroad. The banks were shut down, their assets were sold to compensate some of the money losses.
On June 10, the Moldovan parliament established a special commission in order to investigate all the circumstances behind the devaluation of the Moldovan banking system and banking fraud.
