Regulatory Alerts2020-03-06
Added · Updated
Instruction (Historical) No. 6/2020
The Bank of Portugal amends Instruction No. 5/2019 to require financial entities to include specific information in their Annual Report on the Prevention of Money Laundering and Terrorist Financing regarding procedures for complying with Regulation (EU) 2015/847 on fund transfers. This amendment introduces a new Part 4 detailing policies, automated mechanisms, and risk management procedures for originator, beneficiary, and intermediary payment service providers. Financial entities are granted a transitional deadline of April 15, 2020, to submit the report for the 2019 period, deviating from the standard February 28 deadline.
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