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 Council of Europe/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 is co-funded by the European Union via the Technical Support Instrument and Council of Europe and is and implemented by the Council of Europe (Economic Crime and Cooperation Division), in cooperation with the European Commission.

Unit for EU Member States & Neighbourhood

Administrator
M. Tomislav SERTIC
Phone: +33 (0)3 90 21 46 16
Email: Tomislav.SERTIC [at] coe.int

Junior Professional
Ms Sabina SINJEREAN
Phone: +33 (0)3 88 41 24 93
Email: Sabina.SINJEREAN [at] coe.int

Project Assistant
Mr Simeon SIMEONOV
Phone: +33 (0)3 90 21 58 45
Email: Simeon.SIMEONOV [at] coe.int