Main reference documents
At the national level
1.1. Belgian legislation
Provisions currently in force:
- Anti-Money Laundering Law of 18 September 2017 (unofficial coordinated version 02/2023)
- Anti-Money Laundering Regulation of the NBB of 21 November 2017
- Article 505 of the Criminal Code (repressive aspect)
Preparatory works of the Anti-Money Laundering Law (relevant for financial institutions):
- Amending Law of 20 July 2020
- Amending Law of 2 May 2019 (relevant extracts)
- Amending Law of 30 July 2018 (relevant extracts)
- Anti-Money Laundering Law of 18 September 2017
Earlier provisions:
- Anti-Money Laundering Law of 11 January 1993
- Anti-Money Laundering Regulation of the CBFA of 23 February 2010
1.2. Sectoral risk assessment
- Sectoral assessment of the risks of money laundering and terrorist financing in Belgian financial institutions subject to the supervisory authority of the National Bank of Belgium 2023
- Sectoral assessment of the money laundering risks in the Belgian financial sector subject to the supervisory authority of the National Bank of Belgium – version of 8 September 2020
1.3. Circulars and communications of the NBB
Circulars and communications currently in force:
- 11 October 2024 – Circular NBB_2024_15 / External channel for reporting of breaches of the legislation supervised by the NBB
- 13 March 2024 - Circular NBB_2024_05 / Periodic questionnaires on the prevention of money laundering and terrorist financing
- 10 October 2023 - Communication NBB_2023_08 / Horizontal analysis of a sample of transactions carried out through tied agents of various payment institutions
- 28 June 2022 – Communication NBB_2022_14 / NBB Supervision Portal – Communication to the industry
- 15 February 2022 – Circular NBB_2022_04 / Prudential expectations regarding the AMLCO activity report
- 1 February 2022 - Circular NBB_2022_03 / Prudential expectations in relation to the "de-risking” phenomenon
- 8 June 2021 – Circular NBB_2021_12 / Due diligence obligations regarding the repatriation of funds from abroad and taking into account of tax regularisation procedures when applying the Anti-Money Laundering Law
- 7 April 2020 – Communication NBB_2020_14 / COVID-19
- 23 January 2020 – Communication NBB_2020_002 containing the conclusions of the horizontal analysis of a sample of summary tables of the overall assessment of the risks of money laundering and/or terrorist financing
- 6 November 2019 – Information session on the developments and expectations of the NBB regarding AML/CFT - Presentations
- 19 June 2018 - Communication NBB_2018_21 / Horizontal control analysis examining a sample of transactions carried out through tied agents of different payment institutions
- 24 January 2018 - Circular NBB_2018_02 / Overall assessment of money laundering and terrorist financing risks
- 6 December 2016 - Horizontal letter: application of financial sanctions regime (Combating the financing of terrorism and of the proliferation of weapons of mass destruction)
Previous circulars and communications:
- 26 January 2023 - Circular NBB_2023_01 / Periodic questionnaire on combating money laundering and terrorist financing
- 22 February 2022 - Circular NBB_2022_06 / Periodic questionnaire on combating money laundering and terrorist financing
- 9 March 2021 - Circular NBB_2021_007 / Periodic questionnaire on combating money laundering and terrorist financing
- 22 December 2020 – Communication NBB_2020_050 / Application of Regulation (EU) 2015/847 on transfers of funds to transfers to the United Kingdom
- 15 September 2020 - Communication NBB_2020_36 / Law of 20 July 2020 containing various provisions on the prevention of money laundering and terrorist financing and on the restriction of the use of cash
- 2 March 2020 - Circular NBB_2020_006 / Periodic questionnaire on combating money laundering and terrorist financing
- 15 February 2019 - Circular NBB_2019_03 / Periodic questionnaire on combating money laundering and terrorist financing
- 15 January 2018 - Circular NBB_2018_01 / Periodic questionnaire on combating money laundering and terrorist financing
- 24 April 2017 - Circular NBB_2017_15 / Reporting on inherent risks related to money laundering and the financing of terrorism to which financial institutions are exposed
- 26 October 2016 - Circular NBB_2016_43 / Short-form periodic questionnaire on the prevention of money laundering and terrorist financing
- 26 October 2016 - Circular NBB_2016_42 / Periodic questionnaire on the prevention of money laundering and terrorist financing
- 12 July 2016 - Circular NBB_2016_32 / Opinion of the European Banking Authority (EBA) on the application of customer due diligence measures to customers who are asylum seekers from higher-risk third countries (EBA-Op-2016-07)
- 7 October 2015 - Circular NBB_2015_27 / Short-form periodic questionnaire on the prevention of money laundering and terrorist financing (annex)
- 7 October 2015 - Circular NBB_2015_26 / Periodic questionnaire on the prevention of money laundering and terrorist financing (annex 1 - annex 2)
- 14 October 2014 – Circular NBB_2014_11 / Periodic questionnaire on the prevention of money laundering and terrorist financing (annex 1 - annex 2)
- 3 April 2014 - Circular NBB_2014_04 / Periodic questionnaire on the prevention of money laundering and terrorist financing
- 18 December 2013 - Circular NBB_2013_16 / Recent developments in the prevention of money laundering
- 25 September 2013 - Circular NBB_2013_10 / Periodic questionnaire on combating money laundering and terrorist financing
- 25 August 2010 - Communication CBFA_2010_18 on the need to exercise enhanced due diligence in preventing money laundering, terrorist financing and the proliferation of weapons of mass destruction
- 6 April 2010 - Circular CBFA_2010_09 on customer due diligence, on preventing the use of the financial system for the purposes of money laundering and terrorist financing, and on preventing the financing of the proliferation of weapons of mass destruction
- 1 July 2009 - Communication CBFA_2009_27 on the need to exercise enhanced due diligence in preventing money laundering and terrorist financing, with regard to Iran, Uzbekistan, Turkmenistan and Azerbaijan
1.4. Financial sanctions (asset freezing and embargoes)
- See ‘National financial sanctions' on the website of the Treasury
1.5. Miscellaneous
- Memorandum of Understanding for collaboration of 17 June 2021 regarding the platform for a public-private partnership on the prevention of money laundering and terrorist financing (“AML platform”)
- Guidelines of CTIF-CFI of 15 August 2020 for obliged entities referred to in Article 5 of the Law of 18 September 2017 on the prevention of money laundering and terrorist financing and on the restriction of the use of cash regarding the reporting of information to CTIF-CFI
- Protocol of 17 September 2019 defining the modalities of cooperation and information exchange between the NBB and CTIF-CFI
- CTIF-CFI’s information note of 26 October 2017 regarding the disclosure of information to CTIF-CFI
- General Memorandum of Understanding of 14 March 2013 for collaboration between the NBB and the FSMA to ensure the coordination of the supervision of the institutions under their respective supervision
At the European level
2.1. European legislation
- Delegated Regulation 2019/758 of 31 January 2019 on the minimum action and the type of additional measures credit and financial institutions must take to mitigate ML/FT risk in certain third countries
- Regulation 2018/1672 of 23 October 2018 on controls on cash entering or leaving the Union
- RTS dated 7 May 2018 on CCP to strengthen fight against financial crime
- Delegated Regulation 2016/1675 of 14 July 2016 on high-risk third countries, as amended by as amended by Delegated Regulation (EU) 2024/163 of 12 December 2023 (for the updated annex and methodology, see the website of the European Commission – financial crime section)
- Fourth AML/CFT Directive 2015/849 of 20 May 2015 (transposed into Belgian law by the Law of 18 September 2017) as modified by the fifth AML/CFT Directive 2018/843 of 30 May 2018 (transposed into Belgian Law by the Law of 20 July 2020) and directive 2019/2177 (unofficial coordinated version of 30 June 2021)
- Regulation 2015/847 of 20 May 2015 on information accompanying transfers of funds (unofficial coordinated version of 1 January 2020)
- Regulation No 910/2014 of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market
- See ‘European financial sanctions’ on the website of the Treasury
2.2. European Commission
- Prominent public functions at national level, at the level of International Organisations and at the level of the European Union Institutions and Bodies (C/2023/724 of 10 November 2023)
- Report from the Commission to the European Parliament and the Council of 27 October 2022 on the assessment of ML/FT risks affecting the internal market and relating to cross-border activities (Supranational Risk Assessment Report - SNRA)
- Report from the Commission to the European Parliament and the Council of 24 July 2019 on the assessment of ML/FT risks affecting the internal market and relating to cross-border activities (Supranational Risk Assessment Report - SNRA)
- Report from the Commission to the European Parliament and the Council of 26 June 2017 on the assessment of ML/FT risks affecting the internal market and relating to cross-border activities (Supranational Risk Assessment Report - SNRA)
- Communication from the Commission to the European Parliament and the Council of 2 February 2016 on an Action Plan for strengthening the fight against terrorist financing
2.3. Joint Committee of the European Supervisory Authorities
- Joint Guidelines dated 16 December 2019 on cooperation and information exchange between competent authorities supervising credit and financial institutions (“The AML/CFT Colleges Guidelines”)
- Opinion dated 23 January 2018 on the use of innovative solutions by credit and financial institutions
- Joint Guidelines of 16 January 2018 under Article 25 of Regulation (EU) 2015/847 on the measures payment service providers should take to detect missing or incomplete information on the payer or the payee, and the procedures they should put in place to manage a transfer of funds lacking the required information
2.4 European Banking Authority
- Guidelines EBA/GL/2024/01 of 16 January 2024 amending Guidelines EBA/2021/02 (ML/TF Risk Factors Guidelines)
- Opinion dated 13 July 2023 and Report on money laundering and terrorist financing risks affecting the EU’s financial sector
- Report dated 16 June 2023 on ML/TF risks associated with payment institutions
- Guidelines EBA/GL/2023/04 of 31 March 2023 on policies and controls for the effective management of ML/TF risks when providing access to financial services
- Guidelines EBA/GL/2022/15 of 22 November 2022 on the use of Remote Customer Onboarding Solutions under Article 13(1) of Directive (EU) 2015/849
- Guidelines dated 14 June 2022 on the AMLCO function
- Statement dated 27 April 2022 on financial inclusion in the context of the invasion of Ukraine
- Opinion and report dated 5 January 2022 on de-risking and its impact on access to financial services
- Guidelines dated 16 December 2021 on risk-based supervision
- Guidelines dated 16 December 2021 on cooperation and information exchange between prudential supervisors, AML/CFT supervisors and financial intelligence units under Directive 2013/36/EU
- Opinion dated 3 March 2021 on the risks of money laundering and terrorist financing affecting the Union’s financial sector
- Risk Factors Guidelines EBA/GL/2021/02 dated 1 March 2021 (consolidated version resulting from Guidelines EBA/GL/2023/03 of 31 March 2023)
- Opinion dated 24 April 2019 on the nature of passport notifications regarding agents and distributors under Directive 2015/2366 (PSD2), Directive 2009/110/EC (EMD2) and Directive 2015/849 (AMLD)
- Opinion dated 12 October 2017 on issues related to the departure of the United Kingdom from the European Union
2.5 European Insurance and Occupational Pensions Authority
At the international level
3.1. FATF
Recommendations:
- International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation (February 2012, updated in February 2023)
Guidelines:
- Guidance dated March 2023 on Beneficial Ownership for Legal Persons
- Updated Guidance dated October 2021 for a Risk-Based-Approach for the Virtual Assets and Virtual Assets Service Providers
- Guidance dated June 2021 on proliferation financing risk assessment and mitigation
- Guidance dated March 2021 on Risk-Based Supervision
- Guidance dated March 2020 on Digital Identity
- Best Practices dated October 2019 on Beneficial Ownership for Legal Persons
- Guidance dated June 2019 for a Risk-Based-Approach for the Virtual Assets and Virtual Assets Service Providers
- Guidance dated 26 October 2018 for a Risk-Based Approach for the Securities Sector
- Guidance dated 25 October 2018 for a Risk-Based Approach for the Life Insurance Sector
- Guidance dated 28 February 2018 on counter proliferation financing
- Guidance dated 4 November 2017 on AML/CFT measures and financial inclusion, with a supplement on customer due diligence
- Guidance dated 4 November 2017 on Private Sector Information Sharing
- Guidance dated 21 October 2016 on Correspondent Banking
- Guidance dated 23 February 2016 for a Risk-Based Approach for Money or Value Transfer Services
- Guidance dated 23 October 2015 for a Risk-Based Approach: Effective Supervision and Enforcement by AML/CFT Supervisors of the Financial Sector and Law Enforcement
- Guidance dated 27 October 2014 for a Risk-Based Approach for the Banking Sector
- Guidance dated 27 October 2014 on Transparency and Beneficial Ownership
- Guidance dated 27 June 2013 on Politically Exposed Persons
Mutual evaluations:
- Methodology for assessing technical compliance with the FATF Recommendations and the effectiveness of AML/CFT Systems (February 2013, updated in October 2021)
- Mutual Evaluation Report of Belgium (February 2015)
- 3rd Enhanced Follow-up Report and Technical Compliance Re-Rating (September 2018)
3.2. Basel Committee
- Guidelines dated January 2014 on Sound management of risks related to money laundering and financing of terrorism (revised in July 2020)
- Guidance dated September 2016 on the application of the Core principles for effective banking supervision to the regulation and supervision of institutions relevant to financial inclusion
Related documents
- Personal data protection: see the website of the Data Protection Authority
- Anti-discrimination legislation: see the website of UNIA
Disclaimer: This English text is an unofficial translation and may not be used as a basis for resolving any dispute.