Home Banking Sector Belize Joins Other Central Banks in Latin America on the SWIFT Screening Service

Belize Joins Other Central Banks in Latin America on the SWIFT Screening Service

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The Central Bank of Belize is one of several Central Banks in Latin America that has adopted what is known as Swift’s Financial Crime Compliance Solutions.  It is a program that seeks to combat financial crime and put into effect controls for compliance.  Love News understands that the move is considered a regulatory responsibility and a priority when it comes to global security.Love News contacted Central Bank’s Governor, Joy Grant for a comment on the initiative in which she responded via email saying that that Swift Solution automates screening of incoming and outgoing payment messages against 30 sanctions lists from all the major regulatory bodies in real time so as to block or investigate suspicious transactions.   The Central Bank expects that taking this proactive approach will build greater trust with the international financial community and mitigate de-risking.Since its launch in 2012, Swift’s Sanctions Screening service has been adopted by more than 650 clients in more than 140 countries.

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