Regulatory Alerts2024-11-28
Circular Letter No. CC/2024/00000047
Banco de Portugal issued Circular Letter No. CC/2024/00000047 to inform supervised entities about the adoption of proportional countermeasures against the Democratic People's Republic of Korea and the Islamic Republic of Iran due to their very high-risk status regarding money laundering and terrorist financing. The document also highlights the continued suspension of the Russian Federation's membership status in the Financial Action Task Force. This directive applies to credit institutions, electronic money institutions, payment institutions, and financial companies to ensure compliance with international anti-money laundering standards.
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