Belgium Enhances Counter-Terrorism Financing Measures

National Bank of Belgium Launches Online Platform for Anti-Money Laundering Guidance

In a bid to combat terrorism financing, the National Bank of Belgium (NBB) has introduced an online platform providing comprehensive information on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regulations. This digital resource serves as a one-stop-shop for financial institutions subject to NBB supervision, offering detailed guidance on implementing effective anti-terrorist financing measures.

Key Features of the AML/CFT Website

• Comprehensive Guidance: The website provides in-depth information on AML/CFT regulations, including relevant sections and international guidelines.
• Regular Updates: The platform is regularly updated to reflect changes in international standards, European and national regulations, and rule interpretations.
• Collaborative Effort: The NBB works closely with other authorities responsible for AML/CFT, including the CTIF/CFI, FSMA, Treasury, and FPS Economy.

Importance of AML/CFT Compliance

Financial institutions are required to consult the Explanatory Memorandum of the Anti-Money Laundering Law of 2017, which provides detailed specifications on interpreting provisions. The AML/CFT website is intended as an educational resource, but it does not supersede the applicability of relevant laws and regulations.

NBB’s Approach to Counter-Terrorism Financing

The NBB emphasizes a collaborative effort with other authorities responsible for AML/CFT, promoting best practices to strengthen Belgium’s counter-terrorism financing efforts. The AML/CFT website aims to protect the country’s financial system from illicit activities.

Additional Resources and Policy Documents

Other policy documents, such as those related to audit, shareholder structure, governance, and outsourcing, may also be relevant and applicable for financial institutions subject to NBB supervision.