The Money Laundering and Terrorism (Prevention) Act, Chapter 104 of the Substantive Laws of Belize Revised Edition 2020 (MLTPA) establishes provisions for the investigation and prosecution of money laundering, terrorism financing, proliferation financing and other related crimes. It outlines anti-money laundering, combatting terrorist financing and combatting proliferation financing (AML/CFT/CPF) obligations of reporting entities and designates supervisory powers to the supervisory authorities. The MLTPA is aligned to international standards.
As per Schedule III of the MLTPA, the Central Bank of Belize is designated the Supervisory Authority for domestic banks, international banks, credit unions, payment service providers including remittance service providers and e-wallets, moneylenders including pawnbrokers. As such, enforcement actions can be imposed for non-compliance with AML/CFT/CPF obligations.
As per Schedule III of the MLTPA, the Central Bank of Belize is designated the Supervisory Authority for domestic banks, international banks, credit unions, payment service providers including remittance service providers and e-wallets, moneylenders including pawnbrokers. As such, enforcement actions can be imposed for non-compliance with AML/CFT/CPF obligations.