Technical Support Instrument (TSI) Project on: “Developing a risk-based methodology for an automatic anti-money laundering/counter terrorist financing risk categorisation for supervised entities in Portugal”

Within the framework of the 2021 CoE/EU Technical Support Instrument (TSI) envelope, the Economic Crime and Cooperation Division is assisting Portuguese authorities to enhance the effectiveness of the AML/CFT regime through strengthening the Bank of Portugal’s risk-based supervision and its consequent supervisory approach. The project begun on 18 June 2021 and will last for 24 months. Through tailored activities, the project seeks to contribute to:

  • Improving the understanding of AML/CFT risks in the supervised sector; and
  • Enhancing the model for risk-based supervision of the supervised sector.

Areas of specific focus include the review of the outcomes of current supervisory, the development/updating of the system for weighing of variables used to inform the risk-based supervision process, guidance on the update of sectorial risk assessments and on the development of functional requirements for relevant automated tools to prioritise and organise the respective supervisory activities.

The total project budget is 277,778 Euros. The project was funded by the European Union via the Structural Reform Support Programme and implemented by the Council of Europe - Economic Crime and Cooperation Division, in cooperation with the European Commission.

project news project news

Supporting Banco de Portugal to review its AML/CFT supervisory activities

06 April 2022 Lisbon, Portugal

As a part of the Technical Support Instrument (TSI) initiative for Portugal “Developing a risk-based methodology for an automatic anti-money laundering/counter terrorist financing risk categorisation for supervised entities in Portugal”, the Council of Europe Economic Crime and Cooperation...

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Workshop on conducting Sectorial Money Laundering and Terrorism Financing Risk Assessment of Virtual Assets and Virtual Assets Service Providers

15 November 2021 Online Workshop

On the 15th of November of 2021, the Economic Crime and Cooperation Division of the Council of Europe held a full-day online workshop to present and train the participants of nine countries on the recently developed Council of Europe Methodology for the Sectorial Assessment of Money Laundering...

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Project on enhancing the AML/CFT risk-based supervision in Portugal launched

9 July 2021 Online meeting

The 2021 CoE/EU Technical Support Instrument initiative for Portugal was launched on the 9th of July 2021, through a virtual kick-off meeting of the Project Advisory Board. The event was opened by representatives of the Bank of Portugal, who will be the main project beneficiary and will ensure...

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