Regulatory Alerts2016-04-15
Money Laundering and Terrorism (Prevention) (Amendment) Act, 2016
The Parliament of Belize enacted this legislation to amend the Money Laundering and Terrorism (Prevention) Act, 2008, ensuring compliance with international standards and UN Security Council Resolutions. The Act introduces new definitions for terms such as 'offence', 'stored value instrument', and 'terrorist property', while replacing the term 'serious crime' with 'offence' throughout the principal Act. It also inserts new sections defining proceeds of crime and terrorism, updates reporting obligations for casinos, and expands the scope of offences related to financing terrorism.
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