been agreed by the FATF and Portugal, but do not necessarily reflect the views of the Boards of the IMF or World Bank.
2. The Portuguese legal framework for combating money laundering and terrorist financing is generally comprehensive. The MLoffence is broad in scope and in accordance with the UN Vienna and Palermo Conventions. The TF offences are broadly satisfactory, although they do not appear to cover autonomously acts of the financing of an individual terrorist (that is not related to a terrorist group). The Portuguese confiscation and
This report describes Portugal's observance of Standards and Codes on the Financial Action Task Force Recommendations for Anti-Money Laundering and combating the financing of terrorism. The Portuguese legal framework for combating money laundering (ML) and terrorist financing is generally comprehensive. The ML offence is broad in scope and in accordance with the UN Vienna and Palermo Conventions. Statistics on prosecutions for money laundering and terrorist financing, as well as related confiscation data, are maintained by Portuguese authorities.
. The MLoffense, while it addresses self-laundering, covers only using the proceeds of crime in the business activity of the perpetrator or in a bank or financial transaction. The scope of the offense should be enlarged to cover all the circumstances set forth by the Vienna and Palermo conventions.
13. The relevant provisions regarding FT are quite complex and contained within the definition of acts of terrorism. Moreover, the offense is defined in relation to the financing of the activities of terrorist groups, while the financing of individual terrorists is only
This report examines Hungary’s Observance of Standards and Codes on the Financial Action Task Force (FATF) recommendations for Anti-Money Laundering (AML) and Combating the Financing of Terrorism. Hungary has a substantial AML legal and institutional framework for combating money laundering (ML), including preventive measures for a wide range of service providers and law enforcement measures. The ML offense, while it addresses self-laundering, covers only using the proceeds of crime in the business activity of the perpetrator or in a bank or financial transaction.
This report provides a summary of the antimoney laundering (AML) and combating the financing of terrorism (AML/CFT) measures in place in Cape Verde. It sets out Cape Verde’s levels of compliance with the Financial Action Task Force (FATF) 40 recommendations. The assessment reveals that Cape Verde has a comprehensive framework that addresses the freezing, seizing, and confiscation of the proceeds and instrumentalities of crimes including money laundering or assets of corresponding value. There are also adequate provisions to protect the rights of bona fide third parties.
conduct, that is conversion, concealment, use, acquisition or possession of proceeds, not all serious offences as defined by the Palermo Convention and set forth in FATF Recommendation 1 are predicate offences in the AML Law.
92. Accordingly, the MLoffence set forth in Article 3 of Law No. 17/VI/2002 is not in full conformity with Recommendation 1.
93. Cape Verde authorities provided some statistics on ML criminal proceedings. The information set forth below indicates that only eight ML preliminary enquiries were initiated by the judiciary police between 2004 and