Glossary of the CPC

Het ABC van het CAP

Accounts recorded in the CPC

 

The following accounts are recorded in the CPC: 

  • accounts held by a Belgian resident at a foreign bank, exchange agency or credit or savings institution;
  • bank or payment accounts opened in Belgium that enable customers of a financial institution to:
    • receive funds;
    • make cash withdrawals or deposits; or
    • make or receive payments on behalf of a third party. 

The technical definition of the term "bank account" is as follows:

Any specific subdivision in the chart of accounts of a credit institution created in Belgium following the conclusion of a banking or financial agreement with a customer, alone or jointly with others, that makes it possible to record and monitor, on an individual basis, the flows and balances of monetary assets: 

  • held by the credit institution concerned on behalf of the customer, alone or jointly with other persons, or 
  • made available by the credit institution concerned to the customer, alone or jointly with other persons.

Financial contracts recorded in the CPC

 

The following types of contracts concluded by a reporting agent in Belgium with a customer, alone or jointly with other persons, are recorded in the CPC:

  • mortgage loans granted to a natural person acting outside a trade, business or profession;
  • instalment sales concluded with a natural person acting outside a trade, business or profession;
  • instalment loans granted to a natural person acting outside a trade, business or profession;
  • lease agreements;
  • credit granted to a natural person acting outside a trade, business or profession;
  • agreements relating to investment services and/or ancillary services;
  • any other agreements under which a creditor provides funds to a natural or legal person, or undertakes to provide funds to a company with the provision that they are repaid over time;
  • rental of safe-deposit boxes;
  • life insurance contracts belonging to insurance classes 21, 23, 25 or 26, except for death insurance contracts and contracts concluded in the framework of one of the three pillars of the Belgian pension system. 

Financial transactions involving cash

 

The following transactions taking place in Belgium are considered financial transactions involving cash:

  • the exchange of cash for cash; 
  • the purchase or sale of monetary assets in precious metals in exchange for cash;
  • the execution of payment transactions and transfers of funds in exchange for the deposit or withdrawal of cash by the customer, acting in person or through the holder of a power of attorney. 

The following are not considered financial transactions involving cash:

  • cash deposits to one's own bank or payment account, and
  • cash withdrawals from one's own bank or payment account

by the holder or co-holder of the bank or payment account, acting in person or through the holder of a power of attorney. 

Party entitled to information

A party entitled to information is any natural or legal person authorised by law to consult data recorded in the CPC database further to the performance of tasks in the public interest.

Such consultation, which may only take place in accordance with a strict procedure, is possible by:

  • certain officials of the FPS Finance who form part of:
    • the services responsible for auditing income tax or value added tax;
    • the General Administration of Customs and Excise (GAC&E);
    • the services responsible for collecting: 
      • tax and non-tax revenue;
      • customs and excise duties;
      • amounts levied under the Code on Registration, Mortgage and Court Registry Duties;
      • amounts levied under the Inheritance Tax Code;
      • criminal fines, forfeitures of sums of money, legal costs and contributions;
    • the Treasury Administration;
       
  • certain magistrates of the FPS Justice:
    • crown prosecutors and all magistrates exercising this function;
    • investigating judges;
    • the criminal courts and the courts of appeal in criminal cases;
    • magistrates of the Public Prosecution Service carrying out penalty enforcement investigations;
    • judges appointed by the president of a business court in the framework of insolvency proceedings; 
    • justices of the peace in the context of asset administration;
    • the Central Office for Seizure and Confiscation (OCSC/COIV);
       
  • State Security and the General Intelligence and Security Service of the Armed Forces (SGRS/ADIV);
  • certain employees of the Flemish Tax Administration;
  • notaries in the context of statements of inheritance;
  • the National Chamber of Judicial Officers at the request of the attachments judge in the framework of certain preventive attachment procedures;
  • the Financial Intelligence Processing Unit (CTIF/CFI).

Reporting agent

The law distinguishes between different categories of reporting agents which are required to submit information to the CPC:

  • credit institutions;
  • stockbroking firms;
  • payment institutions;
  • electronic money institutions;
  • persons established in Belgium who carry out cash transactions professionally;
  • insurance companies;
  • companies specialising in finance leasing;
  • lenders granting credit in the course of their trade or business;
  • Bpost.

In addition, Belgian residents holding one or more foreign accounts must report them directly to the CPC.