FIU and Customs Officially Team Up Combating Money Laundering

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Updated: May 11, 2016

This morning’s MOU signing between the Financial Intelligence Unit and the Belize Police Department is the second in a series in an effort to combat money laundering and financial crimes.  On February 3, 2016 the FIU conducted a signing with the Customs and Excise Department.  That signing sought to give more power to the Customs at the entry points and to facilitate business men and women who travel with large quantities of money in not having to apply to the FIU for a permit.  That signing was done over three months ago but the work is only just beginning.  Love News understands that the Governor General only recently ratified the process about two weeks ago and with that training for the Customs Officers will begin.  This move gives additional responsibility to the Customs Department with them being forced to be alert of the traffic at the country’s border points with the discretion of the Customs officers will also be required on a case by case basis ranging from business to medical.  Belize’s Financial Intelligence Unit was established in July 2002.