One of the three Bills brought from the House of Representatives was the Money Laundering and Terrorism (Prevention) Amendment Bill. It is a Bill that seeks to put provisions in place that will make Belize compliant to international money laundering treaties. Business Community Senator Marcelo Blake spoke on the numerous amendments made to the money laundering Bill and the little returns Belize has had from the international community despite our efforts.
Senator Stephen Duncan also addressed the issue of the money laundering amendment and the current situation as well as past laws while adding that the banking sector has been working with the Government as well in maintaining strict policies as they relate to customers’ accounts.
Senator Godwin Hulse commended the banks in the efforts they have been making and it proved beneficial to the country when Prime Minister made his trip to Washington DC to address the matter of correspondent banking.