RegAlert2024-08-08
Added · Updated
Circular Letter No. CC/2024/00000026: Disclosure of FATF Communications (June 2024 Plenary Meeting)
The document requires credit institutions, financial companies, payment institutions, and electronic money institutions to maintain countermeasures against North Korea and Iran, and to apply enhanced identification and due diligence measures to transactions involving North Korea, Iran, and Myanmar. It further mandates that institutions adopt risk-proportionate enhanced measures for business relationships and transactions with jurisdictions under increased monitoring or other high-risk third countries listed in EU Delegated Regulation 2016/1675. The circular updates the list of monitored jurisdictions by adding Venezuela and Monaco, removing Jamaica and Turkey, and noting the continued suspension of Russia's membership status.
BDP published 1 document in the last 30 days — get each new one by email the day it lands.
Circular Letter No. CC/2024/00000026
Sent to:
Credit Institutions, Financial Companies, Payment Institutions, and Electronic Money Institutions.
Mod. 40000375/T – 01/14
Subject: Disclosure of FATF communications (June 2024 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 to foster adequate compliance with AML/CFT standards, the FINANCIAL ACTION TASK FORCE (FATF) acts to identify jurisdictions that present strategic deficiencies in money laundering and terrorist financing prevention and to develop coordinated and decisive responses worldwide to combat these realities.
Read the rest free, and get an email when BDP publishes again
Lineage: In force
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