On Sep. 2, POR CB issued circular replacing existing circular on topic.
POR CB issued circular Letter CC/2024/00000025 re AML/CFT in BPnet services.
Consolidates information on use of services made available in AML Prevention area of BPnet system re laundering and terrorist financing and replaces CC/2021/00000015.
Follows POR CB Apr. 2021 issued rules for submitting data, files via BPnet, #103477.
Overview
Addressees of the circular are: exchanges, banks, Mutual Agricultural Credit Central Bank, savings banks, entities that carry out activities with virtual assets.
Credit financial companies, microcredit financial companies and other.
The services currently available in AML/CFT prevention area are: requests and replies to specific information requests; inspections; restrictive measures; POR CB communications repository; risk assessments and supervisory measures and RPB.
POR CB states entities carrying out activities with crypto must subscribe to all but RPB.
Additionally, financial entities must subscribe to RPB available in the same section.
Supervised entities must ensure their MLRO designated under art 16 AML Law 83/2017 and notices 1/2022, 1/2023, subscribes to all but RPB, financial firm must also use RPB.
Further details are provided regarding specific obligations for determined companies.
Communications to supervised entities will be made via the cited services so they must ensure to receive and comply with them or risk being penalized per cited notices' rules.
Effectiveness
Entities must subscribe to the relevant services by Sep. 30, 2024, at the latest.
Regulators
POR CB
Entity Types
Bank; BS; CU; Exch; Inv Co; MG Orig; MSB
Reference
OG Bul 8/2024, Cir Lt CC/2024/00000025, PR, 9/2/2024; Rpl CC/2021/00000015; Nt 1/2022; Nt 1/2023; AML Law 83/2017
