Preventive and repressive measures against money laundering and terrorist funding entered in force last September, 17 by means of Law no. 83/2017, of August 18. Some of the measures within a pack of prevention and repression were forecast for regulation.
In addition to the establishment of the Beneficial Ownership Central Register, the Law requires legal entities to maintain an updated record of the shareholders and persons controlling the company.
After seven years the Portuguese Data Protection Authority has now revised a decision on the maximum period of retention of the personal data resulting from call recordings.
On August 23, 2017, a new law regulating the use of cash as mean of payment came into force in Portugal and significantly lowered the amount of cash payments.
On August 24, 2017 an ordinance was published which created a Working Group with the purpose of preparing the Portuguese legislation for the application of the new General Data Protection Regulation.
The Portuguese Government established a new regime respecting the appropriation of the assets / rights pledged through a commercial pledge.
The availability of the Electronic Complaints Book has been made compulsory for essential public service providers since July 1st and shall also be mandatory, from July 1st, 2018, for all suppliers of goods and service providers who carry out their activity either through a physical establishment open to the public or through digital means.
There are currently two draft law combating money laundering under final stages of discussion in the Portuguese Parliament and are expected to be approved in the near future.
20 EU Member States agreed to implement the European Public Prosecutor's Office, a new European institution for the prosecution and investigation of crimes against the EU budget.
We have summarized the results of the compliance studies of the past 12 months and summarized the results in this post. Find out how you measure up against the benchmark.