Belgium Tightens Grip on Anti-Money Laundering Policies

National Bank of Belgium Launches Comprehensive Website for Financial Institutions

The National Bank of Belgium (NBB) has unveiled a revamped website aimed at providing financial institutions with detailed guidance on anti-money laundering and combating the financing of terrorism (AML/CFT) regulations. The website serves as a one-stop-shop for financial institutions to access relevant laws, regulations, guidelines, and recommendations.

Key Features of the Website

• Each page of the website is anchored by references to relevant sections of the Anti-Money Laundering Law, the Anti-Money Laundering Regulation of the NBB, and Belgian, European, and international reference documents on AML/CFT.
• The website includes additional comments and recommendations from the NBB.
• It has been developed in multiple stages, with the NBB adding information and updates to ensure effective implementation of AML/CFT regulations.

Approach to Providing Guidance

The NBB emphasizes that its approach to providing AML/CFT guidance is purely educational and informative. While the website may not always be up-to-date on every single text related to AML/CFT, any lack of updates or later updates will not affect the applicability of these texts to financial institutions.

Additional Resources

• The website serves as a reminder that other policy documents, such as those related to audit, shareholder structure, governance, and outsourcing, may be relevant and applicable.
• Financial institutions are encouraged to consult the Explanatory Memorandum of the Anti-Money Laundering Law of 18 September 2017 and its successive amending laws for further guidance on interpreting and implementing AML/CFT regulations.

Competence of Other Authorities

The NBB notes that this website is without prejudice to the competences of other authorities competent in AML/CFT matters, including CTIF/CFI, FSMA, Treasury, and FPS Economy.