On 20 August, the Brussels Times reported that more than 100,000 companies in Belgium have still to come into line with a rule introduced in 2019 to fight money-laundering and the financing of terrorism by identifying ultimate beneficial owners. Of of 574,799 companies and 59,749 non-profits, it is said that there are 117,900 companies out there, and 74,250 non-profits who have still to comply. Potential fines range from €250 to €50,000. However, the ministry is not ready to start imposing fines just yet.
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