The Financial Intelligence Unit (UIF) has recommended that the supervisory authorities create a competent and autonomous entity to oversee activities in the fields of trade, the provision of independent services (such as lawyers and accountants), and the organization of events, with the aim of strengthening risk control and prevention mechanisms.
According to documents accessed by the newspaper OPAÍS, the FIU believes that supervisory bodies should improve their intervention with regard to those they supervise and, to this end, should draw up supervision manuals and other instruments on money laundering and terrorist financing.
This recommendation, which is part of the Executive Report on the Risk Assessment of Money Laundering, Terrorist Financing, and the Proliferation of Weapons of Mass Destruction by Legal Entities and Legal Arrangements, is directed at the Central Bank and regulatory bodies, with which it works to combat money laundering and terrorist financing.
As an institution that analyzes suspicious transactions, the FIU believes that its partners should continue to carry out awareness-raising activities to ensure compliance with obligations and invest in the training and capacity building of their technicians, employees, and supervised entities.
Source: O País
