News News Flash - Banco de Portugal Instruction on Preventing Money Laundering 27/03/2020

On 3 December 2019, Banco de Portugal placed under public consultation three draft instructions on the prevention of money laundering and terrorist financing (BCFT) - see Public Consultation No. 3/2019 in the 2nd Supplement to the Official Bulletin No 11/2019.

One of the projects submitted to Public Consultation consisted of an Amending Instruction Project with a view to modifying Banco de Portugal Instruction No. 5/2019, of 30 January, in order to allow inclusion in the Money Laundering Prevention Report and of the Financing of Terrorism of information concerning specific procedures to comply with Regulation (EU) 2015/847, of the European Parliament and of the Council, of 20 May 2015, on the information on the originator and the beneficiary that must accompany the transfers of funds for the purpose of preventing the MLFT.

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