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Belgium: Belgian Law on Money Laundering

Journal of Financial Crime

ISSN: 1359-0790

Article publication date: 1 February 1995

42

Abstract

Belgium has implemented the EC Directive on prevention of the use of the financial system for the purpose of money laundering (‘EC Directive’) in two stages. First, anticipating the entry into force of the EC Directive, the Law of 17th July, 1990 introduced the concept of money laundering into Belgian criminal law. Secondly, the Law of 11th January, 1993, created a requirement that financial institutions establish certain internal procedures intended to identify money launderers and report any transactions which they suspect may relate to money laundering to a newly created authority.

Citation

Garzaniti, L. (1995), "Belgium: Belgian Law on Money Laundering", Journal of Financial Crime, Vol. 3 No. 1, pp. 105-107. https://doi.org/10.1108/eb025686

Publisher

:

MCB UP Ltd

Copyright © 1995, MCB UP Limited

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