Portugal: Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2009/044, IMF Staff Country Reports from International Monetary Fund

Abstract: This report describes Portugal's observance of Standards and Codes on the Financial Action Task Force Recommendations for Anti-Money Laundering and combating the financing of terrorism. The Portuguese legal framework for combating money laundering (ML) and terrorist financing is generally comprehensive. The ML offence is broad in scope and in accordance with the UN Vienna and Palermo Conventions. Statistics on prosecutions for money laundering and terrorist financing, as well as related confiscation data, are maintained by Portuguese authorities.

Keywords: ISCR; CR; TF offence; CFT regime; competent authority; ML offence; CMVM regulation; EU states Portugal; beneficial owner; financial institution secrecy; sanctions regime; customer due diligence regime; supervisory authority; Anti-money laundering and combating the financing of terrorism (AML/CFT); Legal support in revenue administration; Terrorism financing; Money laundering; Duties; Europe (search for similar items in EconPapers)
Pages: 22
Date: 2009-02-06
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