Belgium Tightens its Grip on Anti-Money Laundering Policies

The National Bank of Belgium has launched a comprehensive website aimed at providing financial institutions with crucial information on anti-money laundering and combating the financing of terrorism (AML/CFT) policies. The site’s structure closely follows the Anti-Money Laundering Law, ensuring that visitors have easy access to relevant references and guidelines.

Key Features of the Website

Structure

Each page begins by referencing key sections of the law and regulation, as well as international, European, and national reference documents. Additional comments and recommendations from the NBB are also provided, offering valuable insights for financial institutions under its supervision.

Content

• The website provides a comprehensive overview of each topic in stages
• Updates include comments and recommendations from the NBB to reflect evolving international standards, national laws, and regulatory frameworks

Purpose of the Website

The AML/CFT website is purely educational and informative, aiming to provide financial institutions with a one-stop resource for AML/CFT compliance. Any lack of updates or changes to relevant texts does not affect their applicability.

Additional Resources

• Other policy documents may be relevant, such as those covering:
  • Audit
  • Shareholder structure
  • Governance
  • Outsourcing
  • And more

Competencies and Collaboration

The website is also mindful of the competencies of other authorities responsible for AML/CFT, including:

• CTIF/CFI
• FSMA
• Treasury
• FPS Economy

With this comprehensive resource, financial institutions in Belgium can better navigate the complex landscape of anti-money laundering policies and ensure compliance with regulatory requirements.