Belize Takes Anti-Money Laundering Regulations Seriously, Complies with International Obligations
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The government of Belize is committed to combating money laundering, terrorist financing, and other illicit financial activities by adhering to international regulations and standards. This commitment is reflected in the country’s anti-money laundering and combating the financing of terrorism (AML/CFT) framework.
Compliance with AML/CFT Obligations
The Money Laundering and Terrorism (Prevention) Act, Chapter 104 of the Substantive Laws of Belize Revised Edition 2020, places significant AML/CFT obligations on reporting entities operating in Belize. These obligations include:
- Identifying and reporting suspicious transactions
- Preventing money laundering and terrorist financing activities
- Conducting regular customer due diligence
International Cooperation
Belize is a member of the Caribbean Financial Action Task Force (CFATF) and actively participates in efforts to combat money laundering, terrorist financing, and other illicit financial activities. The country also adheres to the objectives set forth by the Financial Action Task Force (FATF) and the Organisation for Economic Cooperation and Development (OECD).
Robust Regulatory Framework
Belize has established a robust regulatory framework that ensures reporting entities are equipped to identify, report, and prevent suspicious transactions. The country’s financial sector is subject to rigorous oversight and monitoring to detect and deter illicit activities.
Sanctions List
For more information on Belize’s sanctions list, please visit the Financial Intelligence Unit website.
By adhering to international regulations and standards, Belize demonstrates its commitment to combating money laundering, terrorist financing, and other illicit financial activities. The country’s robust regulatory framework ensures that reporting entities are equipped to prevent suspicious transactions and detect illicit activities.