AML/CFT/CPF LEGAL FRAMEWORK
NATIONAL ANTI-MONEY LAUNDERING COMMITTEE
In accordance with section 77B of the MLTPA, the National Anti-Money Laundering Committee (NAMLC) was established. NAMLC is comprised of various competent authorities charged with AML/CFT/CPF responsibilities and is at the core of Belize’s AML/CFT/CPF efforts. NAMLC is responsible for developing policies to guide the national framework to combat ML/TF/PF and is also charged with fostering cooperation and coordination among supervisory, law enforcement, prosecutorial and intelligence agencies, at the operational level, to detect and deter ML/TF/PF.
See Official Website: https://fiubelize.org/namlc/
The Group of Supervisors (GOS) is made up of the AML/CFT supervisory authorities in Belize, namely, the Financial Intelligence Unit, Central Bank of Belize, Financial Services Commission, and Office of the Supervisor of Insurance and Private Pensions. The GOS is a platform for all four supervisory authorities to coordinate, provide mutual assistance, and for information-sharing for both policy and operational purposes. These mechanisms are further strengthened through a joint Memorandum of Understanding among the four supervisory authorities.
INTERNATIONAL STANDARDS
See Official Website: https://www.fatf-gafi.org/en/home.html
As a member of the Caribbean Financial Action Task Force (CFATF), Belize was assessed on the extent to which the country complies with the Financial Action Task Force (FATF) standards for anti-money laundering and counter-terrorism financing. The assessment focused on technical compliance and effectiveness as detailed in the Mutual Evaluation Report.
OUTREACH
-Update to AML/CFT/CPF Guidelines Training- 6 September 2024 (Credit Unions)
-Update to AML/CFT/CPF Guidelines Training- 14 August 2024 (Pawnbrokers)
-Update to AML/CFT/CPF Guidelines Training- 12 & 13 August 2024 (Moneylenders)
-Update to AML/CFT/CPF Guidelines Training- 9 August 2024 (Payment Service Providers, Remittance Service Providers & E-Wallet)
-Update to AML/CFT/CPF Guidelines Training- 6 August 2024 (Banks: Domestic & International)