The Portuguese Securities Commission updated its questions and answers on anti-money laundering and countering the financing of terrorism obligations to reflect amendments now in force under CMVM Regulation No. 5/2025. The guidance clarifies that exemptions or simplified measures do not displace a risk-based assessment. Obliged entities must obtain additional information and apply enhanced customer due diligence where doubts remain about identities, beneficial ownership or the source, origin or destination of funds. Screening platforms are not mandatory, but firms must use effective means and reliable, current sources to identify politically exposed and sanctioned persons. The update also expands guidance on the scope and completion of regulatory reports. Portuguese branches of covered entities are subject to reporting, while counterparties must be included where identification and due diligence requirements have applied. Reports must distinguish relevant client categories, cover required data blocks and comply with prescribed formats, with erroneous XML files automatically rejected. Firms should report only deficiencies unresolved at the Dec. 31 reference date, use the optional emerging-risk block for new or worsening money laundering or terrorist financing risks, and report transfers on an aggregate basis using information known about their immediate origin or destination.
2026-06-19Portuguese Securities Commission (CMVM)
Portuguese Securities Commission updates AML/CFT guidance on due diligence and regulatory reporting
The Portuguese Securities Commission updated its AML/CFT questions and answers to reflect regulatory amendments now in force. The guidance reinforces risk-based due diligence and effective screening for politically exposed and sanctioned persons. It also clarifies reporting scope, required data, unresolved deficiencies, emerging risks and aggregate transfer reporting.