During the fourth quarter of 2023, the Bank of Portugal initiated 94 proceedings and concluded 282 administrative violations proceedings. The information was published by the bank supervisor.
During the last quarter of 2023, the Bank of Portugal initiated 94 lawsuits and closed 282 administrative violations lawsuits against banks. The information was published by the bank supervisor.
“In the course of the terminated operations, fines totaling €2,047,750.00 were imposed. [2,05 milhões de euros]Of which 62,062.50 euros [62,06 milhões] Their implementation has been suspended,” reveals the Bank of Portugal.
The Bank of Portugal states that of the 282 completed operations, 194 relate to violations of a behavioral nature, 45 relate to violations of a precautionary nature, 27 relate to violations of the rules relating to the operation of the Center of Fiduciary Responsibility, and ten relate to violations of the Statute of Fiduciary Responsibility. Four rules in relation to cash recycling relate to offenses relating to illicit financial activity and two relate to breaches of duties relating to the prevention of money laundering and terrorist financing.
The targets of the fines have not been specified.
In detail, the banking supervisor says that of the 94 cases that were filed, 50 of them relate to violations of a behavioral nature, 22 relate to violations of cash recirculation rules, 13 relate to violations of a precautionary nature, and five relate to violations of duties related to preventing cash evasion. Money laundering and terrorist financing and four related crimes related to illicit financial activity.
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