NBB raises awareness in financial sector about AML/CFT

The fight against money laundering and terrorist financing is being intensified across Europe. In its capacity as supervisor, the National Bank is also making significant efforts. For instance, the AML supervision team has been expanded considerably and this website has been supplemented with an extensive information section.

The legal framework has changed substantially in recent years and several scandals abroad have further highlighted the importance of AML/CFT prevention. In this respect, high demands are made on financial institutions as well as on supervisors and regulators. This is ample reason for the National Bank to raise awareness in the Belgian financial sector and stress its important role.

The occasion was a conference for key staff members of financial institutions. Governor Wunsch and Director Hilgers focused on the National Bank’s expectations. Furthermore, the 250 attendees were provided insight into the NBB’s anti-money-laundering tasks and organisation (supervision and sanctions policy).

The role of the Financial Intelligence Processing Unit (CTIF-CFI) was also clarified. Finally, the European Banking Authority (EBA) discussed European developments in the fight against money laundering and terrorist financing.