Regulatory Alerts2011-08-25
Central Bank of Belize AML/CFT Guidelines for Banks, Financial Institutions, Credit Unions and Money Transfer Services Providers June 2010
The Central Bank of Belize issued these guidelines to establish minimum standards for anti-money laundering and combating the financing of terrorism for banks, financial institutions, credit unions, and money transfer service providers. The document mandates the implementation of a risk-based approach, including rigorous customer due diligence, identification procedures, and enhanced due diligence for high-risk categories such as politically exposed persons. It further requires strict compliance with record-keeping, ongoing monitoring, suspicious transaction reporting, and employee training obligations to align with international FATF standards and local legislation.
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