About the National Anti-Money Laundering Committee (NAMLC)

The Financial Action Task Force (FATF) Recommendations are considered the International Standards on anti-money laundering and combatting the financing of terrorism (AML/CFT). These Recommendations require that countries have effective mechanisms in place which enable policy-makers, the FIU, law enforcement authorities, supervisors and other relevant competent authorities, at the policymaking and operational levels, to cooperate, and where appropriate, coordinate domestically with each other concerning the development and implementation of policies and activities to counter money laundering, terrorist financing and proliferation financing (ML/ TF and PF).

To meet the requirement for a domestic coordination and cooperation mechanism, NAMLC was formally established on the 7th of February 2014, under section 77B of the Money Laundering and Terrorism Prevention Act.

NAMLC includes the following members:

  • Director, Financial Intelligence Unit (Chairperson)
  • Financial Secretary
  • Solicitor General
  • Governor of the Central Bank of Belize
  • Commissioner of Police
  • Chief Executive Officer of the Ministry responsible for the Police
  • Director of Public Prosecutions
  • Comptroller of Customs
  • Director General of the Financial Services Commission
  • Director General of the Belize Tax Service Department
  • Supervisor of Insurance and Private Pensions
  • Director of Immigration and Border Management Services

The primary role of NAMLC is to develop, implement and oversee a national action plan to enable coordination between law enforcement, supervisory authorities, and other competent authorities to address the threats of financial crimes and fight ML/TF in Belize. NAMLC is also tasked with providing advice to the Minister of Finance as to the participation of Belize in the international effort against ML/TF and PF and on the development and execution of policies to combat the same.

Since its establishment, NAMLC has made key recommendations to enhance Belize’s AML/CFT regime, steered the conduct of Belize’s first National Money Laundering and Terrorist Financing Risk Assessment (2020), and is overseeing the implementation of the National Strategy and Policy to mitigate the risks identified. To keep Belize’s understanding of its threats and vulnerabilities current, NAMLC has commenced an exercise to update Belize’s National ML/TF Risk Assessment based on data as recent as 2022. Additionally, NAMLC plays a critical role in ensuring that Belize is effectively implementing the FATF Recommendations by promoting events that will raise the level of awareness and understanding of both the public and private sectors alike in areas of identified risks.

NAMLC remains committed to providing relevant policy advice and development for the benefit of Belize and to ensuring effective coordination and cooperation amongst its members to address the threats of financial crimes.