AML/KYC glossary & frequently asked questions
The definitions you need to speak the language of your supervisors, along with answers to the questions we hear most often from obligated entities.
AML / KYC glossary
Key terms of anti-money-laundering compliance in Belgium and the European Union.
- AML — Anti-Money Laundering
- The fight against money laundering. In Belgium it is governed by the law of 18 September 2017 and the European AMLD directives.
- KYC — Know Your Customer
- All identification and verification checks performed on a client before and during the business relationship.
- CDD — Customer Due Diligence
- Standard due diligence at onboarding: identification, verification and understanding the nature of the customer's activity.
- EDD — Enhanced Due Diligence
- Reinforced vigilance applied to high-risk customers or transactions (PEPs, high-risk jurisdictions, complex structures).
- UBO — Ultimate Beneficial Owner
- The ultimate beneficial owner of a legal entity. Belgian entities must be registered in the FPS Finance UBO register.
- PEP — Politically Exposed Person
- A person who holds or has held a prominent public function. Subject to enhanced due diligence measures.
- FATF
- Financial Action Task Force: intergovernmental body that sets global standards for anti-money-laundering and counter-terrorist financing.
Frequently asked questions
Everything you need to know about using Company Belgium in a Belgian AML/KYC context.
Does Company Belgium replace a full KYC tool?
No. Company Belgium delivers verification of the existence and legal characteristics of a legal entity from the BCE/KBO. For a complete programme, combine our data with a PEP/sanctions screening tool and the UBO register lookup.
Is BCE data enforceable for due diligence?
The Crossroads Bank for Enterprises is the official authentic source for legal entities in Belgium (law of 16 January 2003). The data we expose is published by the FPS Economy and is admissible as proof of legal-entity identification.
Do you provide ultimate beneficial owners (UBO)?
The UBO register is a separate register managed by the FPS Finance with its own access rules. Company Belgium helps you prepare the UBO lookup by providing the structure, public directors and capital links visible in the BCE.
How do I keep an audit trail of my checks?
Every API call is timestamped and linked to your API key. You can export your call logs from the dashboard and keep them for the statutory retention period (10 years under AML rules).
Which activities trigger enhanced due diligence?
NACE codes linked to finance (K), gambling (92), import-export, real estate (L) or crypto-asset activities require extra attention. Our endpoints return the main and secondary NACE codes to feed your risk matrix.
Is a domiciliation centre really subject to AML obligations?
Yes. Companies and domiciliation centres are explicitly named in article 5 of the law of 18 September 2017 as obligated entities. They must identify the customer, verify their identity, understand the ownership structure and keep documentation for at least 10 years. Company Belgium provides them with the official BCE/KBO API to automate this obligation.
How long does it take to integrate Company Belgium with my KYC tool?
A few minutes: create an account, generate an API key and call the documented REST endpoints. Our customers — banks, fiduciaries and domiciliation centres — go live in less than a day, with no software install or proprietary connector.
Continue exploring
The other AML/KYC topic briefs to deepen your compliance programme.
Legal framework & risks
The law of 18 September 2017, European AMLD directives, supervisory authorities and penalties for non-compliance.
Read the briefObligated professions
The 9 categories of obligated entities in Belgium and the 4 end-to-end customer verification workflows.
Read the briefDomiciliation centres
Industry focus: specific obligations for companies and domiciliation centres listed in article 5 of the AML law.
Read the brief