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Repatriation of funds' & the principle of 'look back' (NBB Circular)

Credit institutions ( banking companies and insurance companies) governed by Belgian law (and branches in Belgium of such institutions governed by the law of another country of the European Economic Area or a third country) are obliged to assess requests for the repatriation of funds held with financial institutions abroad in the light of their obligations with regard to the prevention of money laundering (as contained in the Law of 18 September 2017 on the prevention of money laundering, the financing of terrorism and restrictions on the use of cash).

The purpose of the circular (Circular NBB_2021_12 / Due diligence obligations regarding the repatriation of funds from abroad and taking into account of tax regularisation procedures when applying the Anti-Money Laundering Law) is to provide clarification and assurances to financial institutions regarding the the expectations of the National Bank of Belgium  regarding the vigilance required under the Law of 18 September 2017 on the prevention of money laundering and the financing of terrorism and of money laundering and terrorist financing and limiting the use of cash in respect of repatriations of funds from abroad received by these institutions received in connection with their asset management activities or from the issuance of
life assurance policies with a single premium. 

The objective of this training:

Catégorie Financier
Niveau Avancé
Forme d’apprentissage Formation en classe

Points

  • Banque: 3 p/h
  • Compliance: 3 p/h

Recyclage régulier

Examen/Recyclage 600.013
600.004

Manifestez votre intérêt lorsqu’aucune date n’est disponible, la date planifiée ne convient pas et/ou la session existante est complète. Dès que 5 personnes sont inscrites sur la liste d'intérêt, nous vous proposons une nouvelle date. Votre inscription sur la liste d'intérêt est gratuite et n'induit aucune obligation.

Inscrivez-vous à la liste d'intérêt

Groupe cible

The training can be followed by various target groups:

Connaissances préalables

Advanced level: offers practical applications to the already acquired theoretical knowledge of the "basic level" courses (deepening).

Programme

Content

Legislation  

Application  

Practical information

Duration: 0,5 day

Hours: 9h-12u30h

Location: Febelfin Academy, Phoenix gebouw - Koning Albert II-laan 19 1210 Brussel

Méthodologie

You follow a ‘Classroom training’ in a group. You, the other participants and the teacher are all present in the same classroom at an agreed time. There is an opportunity for interaction and feedback, both from the participants to the teacher and vice versa. The teaching material consists as a basis of a presentation via the MyFA learning platform, supplemented with various other items (such as digital syllabus, presentation, audiovisual fragments, etc.).



Training type: Classroom

During our theoretical training courses, we offer a combination of theory and exercises. The cases, examples and exercises are taken from daily practice or are introduced by yourself and then solved under the trainer's guidance.

Training material: Powerpoint presentation

Professeurs

Clémence Van Muylder
Compliance & audit