New Circular on the overall assessment of money laundering and terrorist financing risks

Introduction

On 24 January 2018 the National Bank of Belgium (hereafter “NBB”) published its Circular 2018_02 on the overall assessment of money laundering and terrorist financing (hereafter “ML/FT”) risks. On 22 December 2017 the Royal Decree of 10 December 2017 approving the NBB Regulation of 21 November 2017 on the prevention of ML/FT, was published in the Belgian Official Journal.

The Circular and the Regulation build on the new Law of 18 September 2017 (hereafter “AML Law”) on the prevention of ML/FT and on the restriction of the use of cash.

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