BdP wants to avoid "defensive communications" from banks

▤ Summary

The Banco de Portugal wants banks to stop filing defensive suspicious-activity reports while also becoming stricter when institutions fail to report real suspicions. The supervisor says improved monitoring systems and the rise in digital fraud are driving more reports. It also wants banks and other financial entities to tune alerts correctly so they generate useful compliance signals instead of low-value noise. This shift can push financial institutions to review AML workflows, reporting controls, and case-management processes.

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