Banco de Portugal initiated 379 and concluded 221 administrative offence proceedings in the fourth quarter

In the fourth quarter of 2024, Banco de Portugal initiated 379 and concluded 221 administrative offence proceedings. Of the 379 proceedings initiated, 277 relate to offences of a behavioural nature, 52 relate to offences related to illicit financial activity, 30 relate to offences of the rules on cash recirculation, 16 relate to offences of a prudential nature, three relate to offences related to payment systems and one relates to offences of duties relating to the prevention of money laundering and terrorist financing.

Of the 221 cases concluded, 151 concern behavioural offences, 25 concern breaches of rules on cash recirculation, 22 concern prudential offences, 14 concern breaches related to illicit financial activity and 9 concern breaches of duties relating to the prevention of money laundering and terrorist financing.

In the context of the concluded processes, fines totaling 2.75 million euros (2,757,000 euros) were applied, of which 80.5 thousand euros were suspended in their execution.

The cases were not identified by the regulator.