Regulatory Alerts2024-12-11
Circular Letter No. CC/2024/00000052
The Bank of Portugal issued Circular Letter No. CC/2024/00000052 to remind supervised entities of the requirements for updating customer identification data under Article 40 of Law No. 83/2017. The document provides guidance on anti-money laundering and counter-terrorist financing conduct, specifically addressing scenarios where updating client, representative, or beneficial owner data is impossible. It aims to assist credit institutions, payment institutions, and other financial entities in maintaining compliance with regulatory standards.
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