Regulatory Alerts2021-11-30
Money Laundering and Terrorism (Prevention) Act Revised Edition 2020
The Government of Belize enacted this Revised Edition 2020 of Chapter 104 to consolidate substantive laws prohibiting money laundering and terrorist financing. The Act establishes comprehensive obligations for reporting entities, including customer identification, suspicious transaction reporting, and the appointment of compliance officers under the supervision of the Financial Intelligence Unit. It further empowers authorities to freeze assets, issue restraining orders, and enforce forfeiture of proceeds of crime while facilitating international cooperation and the implementation of UN sanctions.
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