Belgium is staying ahead of the game with a robust anti-money laundering and counter-terrorist financing (AML/CFT) system, according to a recent study by the Financial Action Task Force (FATF). While the global organization praises Belgium’s AML/CFT efforts, the report notes that there’s still some room for improvement.
The study titled, “Mutual Evaluation Report of Belgium,” states that the country has established “the core elements of a sound anti-money laundering regime”. Under the system, Belgium applies its understanding of AML/CFT risks to develop initiatives that address AML/CFT activities.
