The Compliance Department of the Central Bank supervises banks, credit unions, payment service providers, moneylenders, payment system operators, and other financial institutions for compliance with anti-money laundering, combatting the financing of terrorism and countering proliferation financing (AML/CFT/CPF) obligations.   
AML/CFT/CPF LEGAL FRAMEWORK
AML/CFT/CPF Laws: Act 

Money Laundering & Terrorism (Prevention) Act (MLTPA)

Belize Money Laundering & Terrorism (Prevention) Act Chapter 104 (Consolidated Text) 

AML/CFT/CPF Laws: Amendments 

Money Laundering & Terrorism (Prevention) (Amendment) (No. 2) Act, 2023
Money Laundering & Terrorism (Prevention) (Amendment) Act, 2023
Money Laundering & Terrorism (Prevention) (Amendment) Act, 2017
Money Laundering & Terrorism (Prevention) (Amendment) Act, 2016
Money Laundering & Terrorism (Prevention) (Amendment) Act, 2014
Money Laundering & Terrorism (Prevention) (Amendment) Act, 2013

Central Bank-Issued Guidance

 

Revised AML/CFT/CPF Guidelines for Central Bank-Regulated Institutions- December 2023
Guidance Notes: Implementing Targeted Financial Sanctions for Central Bank-Regulated Institutions- December 2023
ML/TF/PF Risk Assessment Guidance Notes for Central Bank-Regulated Institutions- December 2023
Simplified Customer Due Diligence (CDD) Guidelines- November 2023
AML/CFT Guidelines for Banks, Financial Institutions, Credit Unions and Money Transfer Services Providers- June 2010

 

Group of Supervisors (GOS)-Issued Guidance
Revised AML/CFT/CPF Trainer Qualifications Guidance Notes- September 2024
AML/CFT Trainer Qualifications Guidance Notes- January 2024
NATIONAL ANTI-MONEY LAUNDERING COMMITTEE

In accordance with section 77B of the MLTPA, the National Anti-Money Laundering Committee (NAMLC) was established. NAMLC is comprised of various competent authorities charged with AML/CFT/CPF responsibilities and is at the core of Belize’s AML/CFT/CPF efforts. NAMLC is responsible for developing policies to guide the national framework to combat ML/TF/PF and is also charged with fostering cooperation and coordination among supervisory, law enforcement, prosecutorial and intelligence agencies, at the operational level, to detect and deter ML/TF/PF. 

See Official Website: https://fiubelize.org/namlc/

National Policy and Strategy
Belize National AML/CFT/CPF Policy and Strategy – February 2023 
Group of Supervisors 
The Group of Supervisors (GOS) is made up of the AML/CFT supervisory authorities in Belize, namely, the Financial Intelligence Unit, Central Bank of Belize, Financial Services Commission, and Office of the Supervisor of Insurance and Private Pensions. The GOS is a platform for all four supervisory authorities to coordinate, provide mutual assistance, and for information-sharing for both policy and operational purposes. These mechanisms are further strengthened through a joint Memorandum of Understanding among the four supervisory authorities. 
National Risk Assessment

Belize conducted its first National Risk Assessment (NRA) to identify, assess, and understand the money laundering and terrorist financing (ML/TF) risks faced by Belize. The report highlights the ML/TF risks identified in Belize and summarises the AML/CFT measures to mitigate such risks. 

Belize NRA Report

INTERNATIONAL STANDARDS
Financial Action Task Force (FATF)

See Official Website: https://www.fatf-gafi.org/en/home.html

Caribbean Financial Action Task Force (CFATF)
See Official Website: https://www.cfatf-gafic.org/
Belize Mutual Evaluation Report

As a member of the Caribbean Financial Action Task Force (CFATF), Belize was assessed on the extent to which the country complies with the Financial Action Task Force (FATF) standards for anti-money laundering and counter-terrorism financing. The assessment focused on technical compliance and effectiveness as detailed in the Mutual Evaluation Report. 

Belize Mutual Evaluation Report

OUTREACH
Group of Supervisors Advisories on the FATF & CFATF Public Statements

GOS Advisory 0002-2022

GOS Advisory 0003-2022

GOS Advisory 0004-2022

GOS Advisory 0001-2023

GOS Advisory 0002-2023

GOS Advisory 0003-2023

GOS Advisory 0004-2023

GOS Advisory 0005-2023

GOS Advisory 0001-2024

GOS Advisory 0002-2024

GOS Advisory 0003-2024

AML Highlights 

2024

No. 1 of 2024 – Countering Corruption and Bribery

No. 2 of 2024 - Cybersecurity

No. 3 of 2024- Suspicious Transaction Reporting (STR)

2023

No. 1 of 2023 – Danske Bank pleads guilty to fraud on U.S. Banks
No. 2 of 2023 – Restriction on Virtual Asset Activities – Belize
No. 3 of 2023 – Belize’s Targeted Financial Sanctions Regime
No. 4 of 2023 – Countering Fraud in Remittance Payments

 
AML/CFT Notices 

2022

Sanction – Leopoldo Fragoso Do Nascimiento 

List of AML trainings held for the sectors
Update to AML/CFT/CPF Guidelines Training- 6 September 2024 (Credit Unions)
Update to AML/CFT/CPF Guidelines Training- 14 August 2024 (Pawnbrokers)
Update to AML/CFT/CPF Guidelines Training- 12 & 13 August 2024 (Moneylenders)
Update to AML/CFT/CPF Guidelines Training- 9 August 2024 (Payment Service Providers, Remittance Service Providers & E-Wallet)
Update to AML/CFT/CPF Guidelines Training- 6 August 2024 (Banks: Domestic & International)

SANCTIONS

Belize Consolidated Sanctions List

View Belize Consolidated Sanctions List

Gazette Extraordinary