Informative Note

New measures to prevent and combat money laundering and terrorist financing

02/09/2020
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Law 58/2020 came into force on 1 September 2020 and it implements into Portuguese law.

This law introduces substantial changes to the rules previously in force. These changes are being made to implement in Portugal’s national legal system new measures to prevent and combat money laundering and terrorist financing. They strengthen the measures implemented following the recommendations of the Financial Action Task Force (FATF) and the approval of Law 83/2017 of 18 August, the Law to Combat Money Laundering and Terrorist Financing (“LCMLTF”), and Law 89/2017 of 21 August, which approves the Legal Rules of the Central Register of the Beneficial Owner.

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