Money Laundering and Terrorism Financing

National Risk Assessment

The first National Risk Assessment (NRA) Money Laundering and Terrorism Financing was disclosed in June 2015. Said assessment was drawn up by a Working Group established by Ministerial Order 9125/2013 of 12 July by the Minister for State and Finance.

Said NRA aims to bring Portugal in line with the new international standards for combating money laundering and terrorism financing (particularly FATF recommendations) and to provide its authorities with an essential tool to use  effectively, the scarce available resources and to be able to apply preventive measures proportional to the nature of the risks, thereby optimizing its endeavors. 

Relying on the broad participation of the CMVM, other regulatory entities and other activity sectors, the NRA identified the sectors that presented very high risk potential and those with a lower risk level and taking into account the risks and vulnerabilities, proposed a set of measures to be taken in order to adequately offset or even eliminate any such risks.

See the summarized National Risk Assessment of Money Laundering andTerrorism Financing,  approved in June 2015 which contains the main conclusions.