Transcript DCICCEF - O.N.P.C.S.B.

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Regional Conference
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“New Trends and Techniques of Money
Laundering and Terrorism Financing”
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November 22-23, 2010 Bucharest
Romania
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Legal framework
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Predicate Offences
(Article 368 – A, Penal Code)
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Incitement to prostitution
Sexual exploitation of
children or minors
Extortion
Trafficking in narcotic drugs
and psychotropic
substances
Arms trafficking
Trafficking in human organs
and tissues
Trafficking in protected
species
Tax fraud
Trafficking of influences
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Corruption
Embezzlement
Illicit economic
participation in business
Harmful administration
Fraud in obtaining credit or
grant
Other economic and
financial offences
Offences punishable by a
minimum penalty of more
than 6 months’
imprisonment or a
maximum penalty of more
than 5 year’s imprisonment
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Supervision/Control Entities
(Act No. 25/2008, of 5th June)
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• Portuguese Central Bank
• Portuguese Insurance Institute
• Securities Market Commission
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• Authority for Alimentary and Economic Security
• Institute for the Construction and Real Estate
• General Inspectorate for Gambling
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• Registries and Notaries General Directorate
• Statutory Auditors Association
• Chartered Accountants Chamber
• Bar Association
• Solicitors Chamber
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Financial reporting entities
(Act No. 25/2008, of 5th June)
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Credit institutions;
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Investment companies and other
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financial companies;
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Credit securitisation companies;
Entities managing or dealing
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Venture capital financing
Collective investment bodies
companies and investors;
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trading their investment fund
units;
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Companies managing pension
funds;
venture capital funds;
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Investment consulting
companies;
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Companies dealing in goods or
Insurance companies and
services linked to investment in
insurance brokers (life
tangible assets.
insurance);
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Non-financial reporting entities
(Act No. 25/2008, of 5th June)
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Those acting under a concession
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Dealers in goods paid with cash,
granted in order to operate
equal to or exceeding EUR
games in casinos;
15000, regardless of whether the
Those paying out prizes of bets
transaction is carried out through
or lotteries;
a single transaction or through
Those acting as real estate
several transactions apparently
agents or buying and re-selling
linked to each other;
real estate, as well as building
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Statutory auditors, chartered
entities acting as direct sellers of
accountants, external auditors
real estate;
and tax consultants;
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Non-financial reporting entities
(Act No. 25/2008, of 5th June)
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Notaries, registrars, lawyers,
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Other providers of services to
solicitadores and other
companies, to other legal
independent professionals,
persons or legal arrangements,
incorporated as companies or
where not included in the above
acting individually, who, be it on
entities.
behalf of a client or in any other
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circumstances, intervene in or
assist operations as specified in
law 25/2008, of 5th June;
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Reporting Entities - Duties
(Act No. 25/2008, of 5th June)
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• Identification;
• Secrecy;
• Due diligence;
• Controlling;
• Refusal;
• Training.
• Document keeping;
• Examination;
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• Reporting;
• Refrainment;
• Cooperation;
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The FIU
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FIU - Competences
(Decree-Law No. 42/2009, of 12th February – Article 5)
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Collect, centralize, process and disseminate nationwide
the information relating to money laundering, financing
terrorism and tax-related offences,
Ensuring domestically the cooperation and articulation
with the judiciary, the supervisory authorities and
economic and financial players,
Internationally,
the
cooperation
information units or similar structures
with
financial
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Organization Chart
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Direction
Secretariat
Coordination
Council
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Research
Section
Liaison
Standing Group
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Liaison
Officers
Squads
Intelligence
Section
Institutional
Cooperation
Section
Technical
Assessor ship
Collation and
Analysis
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General
Support
Cooperation
Squad
Document
Treatment and
Archive
Workflow
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Update
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Research
Section
FIU
Database
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Records
Coordination
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Other
Databases
Final
Report
Dissemination
Cooperation
Squad
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The risk based approach
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The risk of ML/FT on the financial transactions
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• The reporting entities have the duty of diligence in the
relationships with their costumers
• They should have into account the risk profile of their
costumers and the risk of the transaction
Financial transactions
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Type of products
Type of services provided
Vulnerabilities and probability of happen
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Criteria for the classification of the risk
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Type of
product or
service
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Costumer
targets
Characteristics
of the product
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Distribution of
the products
(Channels)
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Criteria for the classification of the risk
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• Legal persons
• Rationality of the
business
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Risk of
the
costumer
• Activity / profession
• Economic situation
• Beneficial owner
Risk of the
sector of
activity
Transactions
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Geographical
risk
• Offshores
jurisdictions
• Family
• Associated persons
PEP’s
• Countries listed
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Statistics
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Requests to the Liaison Standing Group
Crimes investigated
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Total
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2006
2007
2008
2009
164
178
172
168
Other
18%
C orruption
14%
D rugs
Money
Trafficking
L aundering
33%
24%
Tax F raud
11%
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Reports received
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22700
15600
14255
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12000
855
2006
1036
870
2007
Financial
2008
928
2009
Non-Financial
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Reports received
Financial entities and supervisors
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634
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396
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1st semester 2009
1 st semester 2010
There is an increase of 60% in the reports from the financial sector
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Exchange of information – FIU’s
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297
260
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183
104
91
104
94
91
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2006
2007
2008
2009
Request received Request sent
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Proposals for freezing
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2006
2007
2008
2009
2010 (1st Sem.)
Nº of cases
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14
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Amounts
€ 22.000.000
€ 15.500.000
€ 8.200.000
€ 14.261.392
(aprox.)
USD 250.000
USD 24.600.000
USD 20.000
€ 1.479.962,00
USD 6.548.194,00
£ 330.000
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Type of suspicious transaction reported
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Predicate offence detected
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Type of Reported Transaction - 2009
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37%
28%
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15%
11%
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6%
Cash
transactions
Transfers
to/from abroad
Interrnal
transfers
Exchange of
banknotes
Early repayment
of credit
2%
1%
Currency
exchange
Others
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Predicate Offences detected - 2009
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Others
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Corruption
1
Counterfeit currency
1
Human Trafficking
1
Documents forgery
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8
Drugs Trafficking
Swindling
Tax Fraud
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40
104
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Confirmed suspicions - 2009
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Reports received
15.159
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Files opened
634
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Confirmed
188
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Money laundering
Enquiries, accusations and convictions
(2006-2008)
2006
2007
2008
2009
Enquires
84
95
46
154
Accused/charged
persons
12
25
16
17
Convictions
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4
14
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Financial Intelligence Unit
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Sílvia Pedrosa | Fernando Jordão
Financial Intelligence Unit
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Rua Luciano Cordeiro, 77
1150-213 Lisboa
E-mail: [email protected]
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Tel: (+351) 21 154 47 04
Fax: (+351) 21 314 24 24
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