Definitions

The terms used on this AML/CFT website have the same meaning as in Articles 2 to 4 of the Anti-Money Laundering Law and in Article 1 of the Anti-Money Laundering Regulation of the NBB.

In particular, “money laundering” is defined in Article 2 of the Anti-Money Laundering Law, and “terrorist financing” in Article 3 of the same Law. As regards the other definitions, we refer to the following legal and regulatory provisions:

  • (A)ML/(C)FT”: see Article 4, 1 of the Anti-Money Laundering Law
  • (A)ML/(C)FTP”: see Article 4, 2° of the Anti-Money Laundering Law
  • AMLCO”: see Article 1, 4° of the Anti-Money Laundering Regulation
  • Anti-Money Laundering Law”: the Law of 18 September 2017 on the prevention of money laundering and terrorist financing and on the restriction of the use of cash
  • Anti-Money Laundering Regulation of the NBB”: Regulation of the NBB of 21 November 2017 on the prevention of money laundering and terrorist financing
  • Atypical transaction”: see Article 1, 6° of the Anti-Money Laundering Regulation
  • Authentication service”: see Article 4, 41° of the Anti-Money Laundering Law
  • Beneficial owner”: see Article 4, 27° of the Anti-Money Laundering Law
  • Binding provisions on financial embargoes”: see Article 1, 6° of the Anti-Money Laundering Law
  • Business day”: see Article 4, 40° of the Anti-Money Laundering Law
  • Business relationship”: see Article 4, 33° of the Anti-Money Laundering Law
  • Coordinating bodies”: see Article 4, 14° of the Anti-Money Laundering Law
  • Correspondent relationship”: see Article 4, 34° of the Anti-Money Laundering Law
  • Criminal activity”: see Article 4, 23° of the Anti-Money Laundering Law
  • CTIF-CFI”: see Article 4, 16° of the Anti-Money Laundering Law
  • Directive 2015/849”: see Article 4, 3° of the Anti-Money Laundering Law
  • Electronic money”: see Article 4, 35° of the Anti-Money Laundering Law
  • European Regulation on transfers of funds”: see Article 4, 5° of the Anti-Money Laundering Law
  • European Supervisory Authorities” or “ESAs”: see Article 4, 11° of the Anti-Money Laundering Law
  • Family member”: see Article 4, 29° of the Anti-Money Laundering Law
  • Financial Action Task Force” or “FATF”: see Article 4, 10° of the Anti-Money Laundering Law
  • Financial intelligence unit”: see Article 4, 15° of the Anti-Money Laundering Law
  • Games of chance”: see Article 4, 36° of the Anti-Money Laundering Law
  • Goods”: see Article 4, 24° of the Anti-Money Laundering Law
  • Group”: see Article 4, 22° of the Anti-Money Laundering Law
  • High-risk third country”: see Article 4, 9° of the Anti-Money Laundering Law
  • Implementing measures of Directive 2015/849”: see Article 4, 4° of the Anti-Money Laundering Law
  • International organisation”: see Article 4, 32° of the Anti-Money Laundering Law
  • Life insurance contract”: see Article 4, 25° of the Anti-Money Laundering Law
  • Managerial functions”: see Article 4, 39° of the Anti-Money Laundering Law
  • Managerial responsibilities”: see Article 4, 38° of the Anti-Money Laundering Law
  • Member State”: see Article 4, 7° of the Anti-Money Laundering Law
  • Ministerial Committee tasked with coordinating the fight against the laundering of money of illicit origin”: see Article 4, 12° of the Anti-Money Laundering Law
  • National Security Council”: see Article 4, 13° of the Anti-Money Laundering Law
  • NBB”: the National Bank of Belgium
  • Numbered account or contract”: see Article 1, 7° of the Anti-Money Laundering Regulation
  • Obliged entity established in another Member State or in a third country”: see Article 4, 19° of the Anti-Money Laundering Law
  • Obliged entity governed by the law of a third country”: see Article 4, 21° of the Anti-Money Laundering Law
  • Obliged entity governed by the law of another Member State”: see Article 4, 20° of the Anti-Money Laundering Law
  • Obliged entity”: see Article 4, 18° of the Anti-Money Laundering Law
  • Obliged financial institutions”: the entities referred to in Article 5, § 1, 4° to 10° of the Anti-Money Laundering Law and in Article 2 of the Anti-Money Laundering Regulation of the NBB, or the entities referred to on this AML/CFT website
  • Occasional transaction”: see Article 1, 5° of the Anti-Money Laundering Regulation
  • Persons known to be close associates”: see Article 4, 30° of the Anti-Money Laundering Law
  • Politically exposed person”: see Article 4, 28° of the Anti-Money Laundering Law
  • Professional counterparty”: see Article 1, 8° of the Anti-Money Laundering Regulation
  • Regulation 910/2014”, known as the “eIDAS Regulation”: see Article 4, 5°/3 of the Anti-Money Laundering Law
  • Senior management”: see Article 4, 31° of the Anti-Money Laundering Law
  • Shell bank”: see Article 4, 37° of the Anti-Money Laundering Law
  • Supervisory authorities”: see Article 4, 17° of the Anti-Money Laundering Law
  • Third country”: see Article 4, 8° of the Anti-Money Laundering Law
  • Trust”: see Article 4, 26° of the Anti-Money Laundering Law

For more information on the definitions, see the preparatory works of the Anti-Money Laundering Law (Law of 18 September 2017 and amending Laws) (see the page “Main reference documents”).

 

Disclaimer: This English text is an unofficial translation and may not be used as a basis for solving any dispute