Notice No. 1/2022

Summary

Regulates, in the exercise of the powers conferred by Article 94 of Law No. 83/2017 of August 18, the conditions for exercise, procedures, instruments, mechanisms, formalities for application, information reporting obligations, and other aspects necessary to ensure compliance with the preventive duties regarding money laundering and terrorist financing, within the scope of the activities of financial entities subject to the supervision of the Bank of Portugal.

Regulates, in the exercise of the powers conferred by Article 27 of Law No. 97/2017 of August 23, the means and mechanisms necessary for compliance, by the financial entities subject to the Bank's supervision, with the duties provided for in that legal instrument.

Regulates, finally, the measures that payment service providers adopt to detect fund transfers where information about the originator or beneficiary is missing or incomplete, and the procedures they adopt to manage fund transfers that are not accompanied by the information required by Regulation (EU) 2015/847 of the European Parliament and of the Council of May 20, 2015, on information accompanying transfers of funds.

Revokes and replaces Notice No. 2/2018 and Instruction No. 2/2021.

Status

In force

Official Journal

DR, 2nd Series, No. 109, of 06-06-2022

Enabling Law

Law No. 5/98 of January 31, Article 17; Law No. 83/2017 of August 18, Article 94; Law No. 97/2017 of August 23, Article 27; Decree-Law No. 298/92 of December 31, Article 30-B and Article 33-A

Publication Date

06-06-2022

Entry into Force

05-08-2022

Other Instruments

Law No. 58/2020 of August 31 :: Regulation (EU) 2015/847 of the European Parliament and of the Council of May 20 :: Bank of Portugal Notice No. 3/2020

Descriptors

Money Laundering, Terrorist Financing, Financial System, Financial Services, Financial Information, Client, Fund Transfers, Banking Operations, Third Countries, Service Provision, Payment Services, Supervision, Bank Branch, Financial Branch

Type of Recipient

Credit Institutions, Electronic Money Institutions, Payment Institutions, Financial Companies

Recipients

Currency Exchange Agencies, Banks, Central Credit Cooperative Bank, Agricultural Credit Cooperative Savings Banks, Savings Banks, Mortgage Credit Institutions, Electronic Money Institutions, Payment Institutions, Credit Financial Institutions, Regional Development Companies, Factoring Companies, Mutual Guarantee Companies, Investment Companies, Leasing Companies, Credit Financial Companies, Microcredit Financial Companies

Amending/Repealing Notices

Notice No. 3/2024 Notice No. 1/2023

Amended/Repealed Notices

Notice No. 2/2018

Associated Instructions

Instruction No. 2/2021

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