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FIU to execute National Risk Assessment for Belize

Posted: Friday, October 28, 2016. 2:16 pm CST.


By BBN Staff: The Financial Intelligence Unit (FIU) and the income Tax department signed a memorandum of understanding on Wednesday. The MoU is to expedite the share of information and anti- money laundering, tax evasion and terrorist financing efforts.

Kent Clare, Director of FIU, will commence on big programs including the National Risk Assessment for Belize.

This assessment is an anti-money laundering and terrorist financing initiative but it takes into account a wide variety of stakeholders, from the AG Ministry, Immigration Department, Customs, Income Tax, the office of the supervisor of insurance, the IFSC who supervise the offshore sector, the Central Bank and risk assessment and mitigation in every way that Belize could be challenged including risk from criminal activities, street crime, cybercrime, and fundamental money laundering, terrorist financing and protection of the financial systems.

This initiative is to be completed in a time frame of not more than two years.


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