With the entry into force of Law 83/2017 of August 18, some concepts as well as the conduct to be adopted for the effective compliance with duties related to the prevention of money laundering and terrorist financing were amended, within the scope of the activities of a wide range of Organizations (financial and non-financial sectors). The Organizations covered by this legislation and in accordance with its provisions must define and ensure, with regard to money laundering and terrorist financing, (i) the effective application of policies, procedures, and controls that are adequate for the effective management of the risks to which they are or may be exposed, and (ii) compliance with the respective legal and regulatory standards.
These policies, procedures, and controls, to be included in the Compliance Program, shall be proportional to the nature, size, and complexity of the Organization concerned and the activity it pursues.
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