Financial Crime World

Caixa Geral de Depósitos, SA (CGD) in Timor-Leste: Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Compliance

CGD’s East Timor Branch (BNU Timor)

CGD’s East Timor Branch, or BNU Timor, is committed to strict Adherence to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations. Located at Avenida Presidente Nicolau Lobato, 12/13, Díli, Timor-Leste, the branch is regulated by both the Bank of Portugal and Banco Central de Timor.

Institutional Information

  1. CGD Overview

    • Public limited company 100% owned by the Republic of Portugal
    • SWIFT BIC CODE: CGDI TL DI
    • International operations comply with domestic AML/CTF laws
    • External auditors: Deloitte & Associados, SROC SA

    Contact Information

    • Headquarters: Av. João XXI, n° 63, 1000-300 Lisbon, Portugal Phone: (+351) 21 8456077 Fax: (+351) 21 7905471 Email: gfc.branqueamentocapitais@cgd.pt

    • East Timor Branch: Avenida Presidente Nicolau Lobato, 12/13, Díli, Timor-Leste Phone: 670 330 00 00 Fax: 670 332 39 94 Email: aml.cgd.timor@cgd.pt

  2. Relevant International and National Frameworks

    • FATF/GAFI recommendations (last revised in 2012)
    • European Council and Parliament Directive 2005/60/CE
    • Commission Directive 2006/70/CE

  3. Timor-Leste Laws and Regulations

    • Public Instruction no. 2/2004
    • Law no. 17/2011
    • Law-Decree no. 16/2014
    • Criminal Code and Penal Code

AML/CTF Measures at BNU Timor

  1. Customer Due Diligence
    • Customer identification and screening
    • Know Your Customer (KYC) procedures
    • Enhanced due diligence for Politically Exposed Persons (PEPs)
    • Monitoring of suspicious transactions

BNU Timor’s Commitment to AML/CTF Compliance

  1. Training Programs

    • Regular employee training programs

  2. Record Keeping and Reporting

    • Records of customer identification and transactions kept for seven years
    • Suspicious transaction reports submitted to the Financial Intelligence Unit when necessary

  3. Compliance with Watch Lists and Sanctions

    • Implementation of policies and procedures to comply with international watch lists and sanctions

Additional Compliance Measures

  1. Wolfsberg AML Questionnaire

    • Adherence to principles outlined in Wolfsberg AML Questionnaire
    • Questionnaire available on the bank’s website: www.bnu.tl

  2. USA Patriot Act Certificate

    • Provision of Certification Regarding Accounts for Foreign Banks as required by the USA Patriot Act
    • Certificate available on CGD’s website: www.cgd.pt