Regulatory Alerts1998-01-24
Money Laundering (Prevention) Regulations 1998
The Attorney General of Belize issued these regulations to implement the Money Laundering (Prevention) Act 1996 by establishing mandatory compliance frameworks for relevant financial businesses. The rules require institutions to maintain robust identification, record-keeping, and internal reporting procedures, including specific thresholds for verifying identity in one-off transactions and business relationships. Additionally, the regulations empower the Supervisory Authority to issue guidance, report evidence of laundering to law enforcement, and mandate currency declarations for cash exports exceeding BZ$20,000.
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