AGO CB issued instruction 5/2024 on report for non-bank financial institutions re anti-money laundering, combating financing of terrorism, proliferation (BC/FT/P report)
Also implementation of risk assessment process and adequacy of auxiliary IT systems inherent to fulfillment of obligations resulting from BC/FT/P report.
Risk assessment can be carried out using reputable external entities.
Penalties
Failure to comply with provisions of instruction constitute an offense punishable under the terms of Law No. 14/21, of May 19, Law on general regime of financial institutions.
Effectiveness
Institutions must comply with the provisions of instruction by Dec. 30, 2024.
