Belgian Financial Regulator Publishes Comprehensive Guide to AML/CFT Guidelines
The National Bank of Belgium (NBB) has launched an online platform providing detailed information on Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) guidelines for financial institutions under its supervision. This comprehensive guide aims to offer a clear and concise overview of the relevant legal framework, regulations, and international standards.
Structure of the Website
Each page on the website begins with references to the relevant sections of the Belgian Anti-Money Laundering Law and Regulation, as well as European and international reference documents. The NBB provides additional comments and recommendations to help financial institutions effectively implement AML/CFT measures.
- Financial institutions are strongly advised to consult the Explanatory Memorandum of the Anti-Money Laundering Law for further guidance.
Updates and Maintenance
The website was developed in stages, with each update incorporating new information and comments from the NBB to facilitate effective implementation of legal and regulatory obligations. The platform is regularly updated to reflect changes in international standards, national regulations, and interpretations of applicable rules.
- The NBB’s approach on this website is purely educational and informative, aiming to provide a centralized source of information for financial institutions.
- Updates or revisions to included texts may occur, but they do not affect the applicability of these guidelines to regulated entities.
Importance of Other Policy Documents
It is also important to note that other policy documents not addressed on this website may still be relevant and applicable, including those related to: + Audit + Shareholder structure + Governance + Outsourcing + Others
Competencies of Other Authorities
Furthermore, the website does not compromise the competencies of other authorities responsible for AML/CFT matters in Belgium. The NBB’s comprehensive guide is intended to provide a valuable resource for financial institutions under its supervision, while respecting the roles and responsibilities of other regulatory bodies.