Regulatory Alerts2022-12-05
Circular Letter No. CC/2022/00000039
Banco de Portugal issued Circular Letter No. CC/2022/00000039 to inform supervised entities about the adoption of proportionate 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 highlights additional measures adopted by the Financial Action Task Force (FATF) concerning the Russian Federation. It mandates compliance with these international standards for credit institutions, electronic money institutions, payment institutions, and financial companies.
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