Prevention of money laundering and terrorist financing – Observations coming out of inspections of currency exchange offices

The FSMA conducted inspections of 8 currency exchange offices registered in Belgium, in order to verify compliance with the legislation to prevent money laundering and terrorist financing ("ML/FT"). The inspections covered the entire Belgian sector of currency exchange offices.

The ensuing report sets out the main elements of the applicable legal framework, goes into the most significant observations made by the FSMA and emphasizes good practices that contribute to compliance with the preventive ML/FT legislation.