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.
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