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The CMVM

Money Laundering and Financing of Terrorism


Coordination Committee for Preventing and Combating Money Laundering and Financing of Terrorism Policies


 
The Council of Ministers Resolution No. 88/2015 of 6 October incepted the Coordination Committee for Preventing and Combating Money Laundering and Financing of Terrorism Policies (hereinafter Coordination Committee), in fulfilling the duty for each Member State to nominate an authority to the EU or install a mechanism to coordinate the national response concerning the risks inherent to money laundering and terrorism financing as per EU Directive 2015/849 of the European Parliament and Council of 20 May 2015.
 
The Coordination Committee has been assigned the task of 'monitoring and coordinating the identification, assessment and response of the risks that Portugal is or might be exposed to pertaining to money laundering and terrorism financing thereby improving technial conformity and effective national system for preventing and combating money laundering and terrorism financing'.

The CMVM has a seat at the Coordination Committee with two representatives, the CMVM Vice-Chair and the Coordinator of the Centre for Preventing and Combating Money Laundering and Financing of Terrorism).
 
At end 2015, CMVM began participating in the works of the Executive Committee of the Coordination Committee and by beginning February 2016, participated in the activity of the Committee presided over by the State Secretary for Fiscal Affairs.