Successive versions of the AML/CFT website

Successive versions of the website

Current version:

Previous versions:

Overview of the changes

On 17 March 2021:

  • Addition of the following NBB document:
    • 9 March 2021 – Circular NBB_2021_007 / Periodic questionnaire on combating money laundering and terrorist financing

On 4 March 2021:

  • Changes following the entry into force of the Law of 20 July 2020:
    • Addition of the most recent unofficial consolidation of the Anti-Money Laundering Law of 18 September 2017
    • Replacement, on each page, of the references to the provisions of the Anti-Money Laundering Law and of the Anti-Money Laundering Regulation of the NBB with a link to the unofficial consolidation of the Law and to the Regulation
    • Replacement, on each page, of the section “Explanatory Memorandum of the Anti-Money Laundering Law”with references to the preparatory works of the relevant laws amending the Anti-Money Laundering Law on the page “Main reference documents”
    • Other substantive changes to comments and recommendations by the NBB on the following topics:
      • Introduction (see point 3)
      • Scope (see §§ 1 and 3)
      • Definitions
      • Governance (see points 2.3 and 5.6)
      • Policy, procedures, processes and internal control measures (see points 2.2.2.A.2 and 2.5) 
      • Belgian parent companies (see points 2.2.3, 2.2.4, 2.3 and 3.2)
      • Performance of obligations by third parties (see point 2.2.3)
      • Anonymous or numbered accounts, safe-deposit boxes and contracts (see point 1)
      • Persons to be identified (see points 2.2 and 2.3)
      • Object of the identification and identity verification (see introduction; points 1, 2.3.2, 3.3.2, 5)
      • Time of identification and identity verification (see points 2.2.2 and 2.2.3)
      • Identification of the customer's characteristics and of the purpose and nature of the business relationship or the occasional transaction(see points 1.1, 2.2 and 2.3)
      • Due diligence on business relationships and occasional transactions and detection of atypical facts and transactions (see introductory §§, points 1.1.1, 1.2, 1.5, 2.1, 2.2, 3, 3.1, 3.3 and 4)
      • Correspondent relationships (see point 3, first and third paragraph; point 4)
      • Politically exposed persons (PEPs) (see points 1.1, 1.2, 3, 3.1 and 4)
      • Due diligence requirements and compliance with other legislation (see point 2)
      • Analysis of atypical facts and transactions (see points 2.1.1.A; 2.1.1.B, § 2 and addition of § 3; point 2.2, ninth paragraph) 
      • Reporting of suspicions (see point 2.1, first paragraph, 2.2, 2.5.1, first paragraph)
      • Protection of reporting persons (addition of point 3)
      • Data and document retention (deletion of point 2 on personal data protection, which is now covered on a separate page devoted to personal data processing and protection)
      • Restriction of the use of cash (see point 2.1.1.c; additionof the final paragraph of point 2.1.2; point 2.2; additionof point 2.3) 
      • Supervisory powers, measures and policy of the NBB (see points 1 and 2)
      • National cooperation (see addition of §1 and point 1; point 2)
      • International cooperation (see addition of §1 and point 1; point 2)
      • Administrative sanctions
      • Criminal sanctions (additionof the final paragraph).
    • Minor changes: 
      • Adaptation of references to legal and regulatory provisions
      • Replacement of the concept of “ongoing due diligence” with “due diligence on business relationships and occasional transactions”
  • Other changes:
    • Page “Prohibition of disclosure” (see point 2.3; addition of point 2.4)
    • Page “Transfers of funds” (see point 2.2)
    • Page “Financial embargoes and assets freezing” (see point 2.3)
    • Page “Supervisory powers, measures and policy of the NBB” (see point 3; additionof the risk-based supervisory policy in point 4)
    • Addition of a link to the EBA’s “AML Q&A Tool” (page “Other useful links”)
    • Addition of the following documents:
      • Sectoral assessment of the money laundering risks in the Belgian financial sector falling under the supervisory competences of the NBB (version of 8 September 2020)
      • Communication of the NBB of 22 December 2020 on the application of Regulation (EU) 2015/847 on transfers of funds to transfers to the United Kingdom
      • Communication of the NBB of 15 September 2020 on the Law of 20 July 2020 containing various provisions on the prevention of money laundering and terrorist financing and on the restriction of the use of cash
      • Guidelines of CTIF-CFI of 15 August 2020 for obliged entities referred to in Article 5 of the Law of 18 September 2017 on the prevention of money laundering and terrorist financing and on the restriction of the use of cash regarding the reporting of information to CTIF-CFI
      • FATF Recommendations (revised in October 2020)
      • BCBS Guidelines dated January 2014 on Sound management of risks related to money laundering and financing of terrorism (revised in July 2020)
      • Regulation 2015/847 of 20 May 2015 on information accompanying transfers of funds (unofficial consolidation of 1 January 2020)
    • Minor changes to other pages of the AML/CFT site.

On 13 August 2020:

  • Substantive changes to comments and recommendations by the NBB on the Reporting by financial institutions (see point 2 en its reference documents)
  • Addition of the following NBB documents:
    • 7 April 2020 – Communication NBB_2020_14/ COVID-19
    • 2 March 2020 – Circular NBB_2020_006 / Periodic questionnaire on combating money laundering and terrorist financing

On 21 February 2020:

  • Substantive changes to comments and recommendations by the NBB on the following topics:
    • Risk-based approach and overall risk assessment (see points 3. and 4. as well as its reference documents)
    • Governance (see points 2.5., 3., 4. and 5. as well as its reference documents )
    • Performance of obligations by third parties (see points 1. and 2.)
    • Reporting by financial institutions (see points 1.1., 1.2. and 1.3. as well as its reference documents)
  • Addition of the following documents:
    • FATF documents:
      • Methodology for assessing technical compliance with the FATF Recommendations and the effectiveness of AML/CFT Systems, as updated in October 2019
      • Best Practices dated October 2019 on Beneficial Ownership for Legal Persons
      • Guidance dated June 2019 for a Risk-Based-Approach for the Virtual Assets and Virtual Assets Service Providers
    • European Documents:
      • ESAs Joint Guidelines dated 16 December 2019 on cooperation and information exchange between competent authorities supervising credit and financial institutions (“The AML/CFT Colleges Guidelines”)
    • NBB documents:
      • 23 January 2020 – Communication NBB_2020_002 containing the conclusions of the horizontal analysis of a sample of summary tables of the overall assessment of the risks of money laundering and/or terrorist financing
      • Presentations of the information session of 6 November 2019 on the developments and expectations of the NBB regarding AML/CFT

On 21 October 2019:

  • Substantive changes to comments and recommendations by the NBB on the following topics:
    • Governance (see point 4: introduction and point 4.1; new points 4.6 and 4.7)
    • Internal whistleblowing (see § 2)
    • Object of the identification and identity verification (see point 2.2, § 3; point 2.3.1, § 2; point 5)
    • Prohibition of disclosure (see point 1, new § 3)
    • Financial embargoes and assets freezing (see point 1, § 6; point 2.1, §§ 2 and 3; point 5.4, § 1)
    • Reporting by financial institutions to the NBB (see point 4.1)
  • Addition of the following documents:
    • FATF documents:
      • Recommendations as updated in June 2019 (see page Introduction)
      • Methodology for assessing technical compliance with the FATF Recommendations and the effectiveness of AML/CFT Systems, as updated in February 2019
    • European documents
      • Delegated Regulation (EU) 2019/758 of 31 January 2019 on the minimum action and the type of additional measures credit and financial institutions must take to mitigate ML/FT risk in certain third countries (see page Belgian parent companies)
      • Report of 24 July 2019 from the Commission to the European Parliament and the Council on the assessment of ML/FT risks affecting the internal market and relating to cross-border activities (SNRA) + annex (Commission Staff Working Document) (see page Risk-based approach and overall risk assessment)
      • ESAs Joint Opinion dated 4 October 2019 on the risks of money laundering and terrorist financing affecting the Union’s financial sector (see page Risk-based approach and overall risk assessment)
      • EBA opinion dated 24 April 2019 on the nature of passport notifications regarding agents and distributors under Directive 2015/2366 (PSD2), Directive 2009/110/EC (EMD2) and Directive 2015/849 (AMLD) (see page Belgian CCPs of European payment institutions and electronic money institutions)
    • NBB documents:
      • Addition of old circulars "Periodic questionnaire" 2014_11, 2015_26 and 2015_27
      • Protocol of 17 September 2019 defining the modalities of cooperation and information exchange between the NBB and CTIF-CFI (see page National cooperation)
  • Minor changes to other pages of the AML/CFT website.

On 26 June 2019:

  • Online release of the English version of the AML/CFT site

  • Minor changes to existing pages of the AML/CFT website.

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