Belize commended for Money Laundering lock down

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Sunday, June 7th, 2015. BMG:  list of member countries at the forefront of combating money laundering and terrorist financing, reaching the highest level of agreement with international standards.

Belize has been removed from the CFATF follow-up process and the International Cooperation Review Group’s (ICRG) review program after an assessment showed that we have improved our legislation to stop money laundering and terrorist financing.

This review, conducted by Anti-Money Laundering, Caribbean Financial Task Force supervisors and members of the private sector, included an examination of Belize’s legislative framework and how well it is being implemented.

CFATF member countries have congratulated Belize for getting off the follow-up list in such a short period of time. The government of Belize said that to avoid repeating the reputational damage of 2013, when Belize was gray-listed by the CFATF for insufficient AML legislation, it is fully committed to strengthening AML/CFT laws.

Belize’s record progress is indication of the government’s commitment to the country’s reputation as a well regulated financial service center.

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