Circular Letter No. CC/2020/00000030: Disclosure of FATF Communications (February 2020 Plenary Meeting)

The Bank of Portugal mandates credit institutions, financial companies, payment institutions, and electronic money institutions to apply proportional countermeasures against North Korea and Iran due to very high risks of money laundering, terrorist financing, and weapons proliferation. These institutions must also continue enhanced identification and due diligence measures for business relationships and transactions involving these two jurisdictions, as well as for those under increased monitoring or classified as high-risk third countries under EU Delegated Regulation 2016/1675.

BDP published 1 document in the last 30 days — get each new one by email the day it lands.

Circular Letter No. CC/2020/00000030
Sent to:
Credit Institutions; Financial Companies; Payment Institutions and Electronic Money Institutions.
Mod. 99999994/T – 01/14
Subject: Disclosure of FATF communications (February 2020 plenary meeting)

I. COMMUNICATIONS ISSUED BY THE FATF
With the aim of protecting the international financial system from the risks associated with money laundering and terrorist financing, as well as fostering adequate compliance with AML/CFT standards, the FINANCIAL ACTION TASK FORCE (FATF) acts to identify jurisdictions that present strategic deficiencies in matters of money laundering and terrorist financing and to develop coordinated and decisive responses worldwide to combat these realities.

Read the rest free, and get an email when BDP publishes again

Email me when BDP publishes something newOne email per publication, same day. Sign in below to keep reading.

Lineage: In force

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Source: Banco de Portugal — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works