Verification and testing of depositors' custody services, as well as informing clients about the risks involved – is the request that the National Bank of Moldova has sent to the licensed banks, IPN reports.
NBM press release states that the request is aimed at preventing risks. "The verifications shall be completed on October 22, 2019, after which, within a maximum 30 working days, banks will have to present the results to the NBM, but also a plan of measures to eliminate the identified deficiencies," the statement said.
The National Bank of Moldova is responsible for the prudential regulation of the banks and does not regulate the specific, technical, security requirements, etc., which fall within the general operational risks category.
"The normative acts issued by the NBM stipulate that banks must develop internal policies in order to effectively manage the operational risks they are exposed to, including those of internal or external fraud, as well as fraud attempts", the press release states. These rules are indispensable for the effective protection of the assets of banks.