Financial Crime World

Title: Belgium’s Progress in Anti-Money Laundering (AML) Legislation: A FATF Scorecard Update

Brussels, Belgium - FATF Assessment on Belgium’s AML/CTF Compliance (2018)

The Financial Action Task Force (FATF) has released an assessment report on Belgium’s adherence to Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) recommendations. The report evaluates various areas with ratings indicating the extent of domestic implementation.

## Belgium's 2018 Report Card

**FATF Ratings:** Compliant (C), Largely Compliant (LC), Partially Compliant (PC)

The following is a brief overview of the assessment for each recommendation:

1. **Risk assessment & risk-based approach:** Compliant (C)
2. **National cooperation and coordination:** Compliant (C)
3. ...
   (Repeat for all 40 recommendations)
4. **Transparency and beneficial ownership:** Largely Compliant (LC)

(Note: This outline covers the first 9 recommendations from the provided text. The full report includes assessments for all 40 recommendations.)

Below is a summary of the assessments for the initial 9 recommendations based on three ratings: compliant (C), largely compliant (LC), and partially compliant (PC). The complete report includes evaluations for all 40 recommendations.

Assessments for the First 9 Recommendations

  1. Risk assessment & a risk-based approach: Compliant (C)
  2. National cooperation and coordination: Compliant (C)
  3. Money laundering offense: Compliant (C)
  4. Confiscation and provisional measures: Compliant (C)
  5. Terrorist financing offense: Compliant (C)
  6. Targeted financial sanctions related to terrorism & terrorist financing: Partially Compliant (PC)
  7. Targeted financial sanctions related to proliferation: Partially Compliant (PC)
  8. Non-profit organizations: Largely Compliant (LC)
  9. Financial institution secrecy laws: Compliant (C)

The FATF report does not provide details on Belgium’s progress or setbacks in implementing these AML/CTF recommendations. Future reports will offer a clearer picture of the country’s progress in these areas. The information provided will help stakeholders evaluate the strengths and weaknesses of Belgium’s AML/CTF framework.

## References

- Financial Action Task Force (FATF) (2018). _Belgium: 4th Round Mutual Evaluation Report_. Retrieved from [FATF Report](http://www.fatf-gafi.org/publications/mutual-evaluations/documents/report-belgium.html)