These challenges are strengthening earlier enforcement priorities: authorities are zeroing in on high-profile financial crime, doubling down on the ‘follow-the-money’ approach and showing a willingness to settle cases out of court. To bolster these developments, the Government recently announced the introduction of a National Financial Prosecutor’s Office alongside targeted reinforcements for specialized police units and courts.
Belgian authorities are simultaneously intensifying enforcement against social fraud and social dumping. The inspection services executed a high volume of targeted social‑dumping investigations across construction, transport, logistics, cleaning and hospitality sectors, complemented by coordinated cross‑border actions and closer cooperation with the European Labour Authority. These social fraud and social dumping inspections are increasingly paired with criminal law enforcement.
Enforcement trends
Crackdown on financial crime and recovery of criminal proceeds continues
Belgian authorities are intensifying efforts to combat financial crime, with a continued focus on money laundering, corruption and cybercrime. This renewed emphasis is driven in part by budgetary pressures within the justice system, making the ‘follow-the-money’ approach more worthwhile than ever. Authorities are not only prosecuting these crimes more aggressively but also seeking higher financial penalties and broader confiscation measures.
Cross-border enforcement activity remains very important, with the European Public Prosecutor’s Office (EPPO) leading the charge. By the end of 2024, the EPPO had launched 79 investigations in Belgium alone, 47 of which involved cross-border elements. These cases predominantly focus on different types of fraud, but also encompass corruption, money laundering, and participation in criminal organizations. The EPPO continues to set a rapid pace, and the question remains whether the Belgian system can keep up with its demands.
Willingness to settle
Alongside this crackdown, there is an ever-increasing willingness on the part of prosecutors to resolve financial crime cases through alternative dispute resolution, including out-of-court settlements and guilty pleas. These options offer a more efficient resolution to complex cases, often involving substantial negotiated settlement amounts and penalties, and help alleviate the strain on judicial resources. However, when cases fall under the supervision of the EPPO, opportunities for negotiation are typically more limited.
Focus on public officials and corruption critique
Belgian prosecutors are intensifying their scrutiny of public officials, particularly in cases involving cross-border corruption and abuse of office. Over the past year, several high-profile investigations and prosecutions have been reported, and a parliamentary inquiry has been launched into alleged deficiencies in the anti-money laundering controls of Belgian financial institutions and their supervision by the regulator, especially in higher-risk cases where public officials and politically exposed persons (PEPs) are involved.
These developments come in the wake of OECD’s criticism in 2025 of Belgium’s enforcement approach against corruption. The OECD noted that Belgium’s fight against corruption is hampered by a shortage of personnel, resources and technology, as well as the lack of a dedicated strategy to tackle foreign bribery. In response to such criticism on the international stage, Belgian authorities may be expected to further increase their efforts.
The increased attention on enforcement against public officials has prompted political reactions that, in line with the traditional critique of Belgium’s criminal settlement regime as ‘class justice,’ seek to introduce a restriction excluding PEPs from the benefit of out-of-court settlements. These initiatives have been criticized as unjustified, disproportionate, and in violation of principles of equality and non-discrimination. And while these initiatives have not been put into law, they are in line and represent a more general sentiment of reluctance to engage in settlement discussions for public corruption cases.
Social fraud and social dumping
Belgian enforcement bodies have prioritized labor inspections in construction, transport, logistics, cleaning and hospitality sectors, often in joint or concerted actions with other EU inspectorates and supported by the European Labour Authority. Recent Belgian reporting evidences: (i) thousands of social‑dumping investigations with high ratios of infraction findings, especially involving third‑country nationals; (ii) frequent infringements linked to social security legislation notifications and construction site attendance registration; (iii) an increased application of joint and several liability for wages across subcontracting chains; and (iv) dedicated investigations into prohibited worker lending or secondment across borders. These social fraud and social dumping inspections are increasingly paired with criminal law enforcement, and in some cases prosecuted under the criminal law qualification of human trafficking.
Environmental law prosecutions
Environmental offenses remain a top priority for white-collar crime enforcement in Belgium. This year has seen several high-profile cases of alleged environmental contamination, pursued not only by public prosecutors but also by coalitions of NGOs and environmental activists. This is in line with the EU adopting new legislation that intends to boost and harmonize environmental prosecutions. Notably, although the offense of ecocide was introduced in Belgium in 2024 and will be slightly modified to align with new EU standards, this offense has yet to be tested in court.
Law reforms
Creation of a National Financial Prosecutor’s Office
The Belgian Government has recently announced the intention to create a National Financial Prosecutor’s Office, modelled on its French equivalent (the parquet national financier or PNF), to centralize and specialize the fight against financial crime. The initiative draws support for its potential to deliver focus, speed and higher recoveries of proceeds of crime, but also criticism regarding the risk of adding layers rather than reinforcing current capacity. The governance, staffing, remit and coordination with existing enforcement actors will be critical to the effectiveness of this new enforcement office, for which the Belgian Government expects financial returns as early as 2027.
Belgium’s new Criminal Code
Belgium is on the brink of a transformation in its white-collar crime legislation, with the new Criminal Code scheduled to take effect on April 8, 2026. Among the most notable changes are an eight-tier sentencing framework that will also apply to corporates, as well as a broadened range of sentencing options. These new sentencing options include an expanded scope for professional bans and the possibility of imposing monetary penalties up to three times the value of the illicit benefit gained or anticipated from an offense. In practice, this is expected to lead to higher fines for white-collar crime, which is aligned with the aim of strengthening deterrence and ensuring that crime does not pay.
Private Investigations Act
The landscape for corporate internal investigations remains unsettled. The Private Investigations Act, one year after its adoption, continues to draw strong criticism for its lack of clarity and its failure to address the complex and nuanced realities faced by cross-border businesses. This ambiguity has led to divergent interpretations of key provisions, and persistent challenges when internal investigations intersect with disciplinary, regulatory, or criminal proceedings, resulting in the first wave of litigation. The Constitutional Court is reviewing the legality of several aspects of the Act, and there are growing calls for legislative intervention to address its shortcomings. In this climate of legal uncertainty, companies must continue to tread carefully, both when establishing governance frameworks for investigations that align with the new rules and when effectively conducting internal investigations.
Looking forward
- Institutional change and capacity: The introduction of the National Financial Prosecutor’s Office may impact white-collar crime enforcement. However, the effectiveness of this new actor will depend on sustained investment to address ongoing budgetary and staffing challenges within the Belgian justice system.
- Labor enforcement capacity: On the labor enforcement side, the Governmental 2026–2029 federal strategy foresees capacity strengthening of inspection services, enhanced data‑mining and cross‑border collaboration to address social dumping and undeclared work, which we expect will lead to increased criminal law enforcement in this area. Employers should also anticipate ongoing EU‑level labor initiatives strengthening enforcement cooperation and transparency around employment conditions and posting.
- Priority risk areas: In response to OECD criticism, authorities are expected to intensify scrutiny of public sector corruption and abuse of office. Enforcement efforts will also remain robust in relation to environmental offenses. Priority labor risk areas include different forms of social fraud and social dumping, subcontracting chains with wage underpayment exposure and the use of third‑country workers without proper authorizations.
- Sentencing, confiscation and asset recovery: The application of the new Criminal Code from April 2026 is anticipated to increase corporate liability and exposure, reinforcing the ‘follow-the-money’ approach towards white-collar crime enforcement.
- Settlements and EPPO dynamics: The use of settlements in complex cases is likely to continue, although the involvement of the EPPO will continue to result in more constrained negotiation parameters and stricter oversight. While the traditional ‘class justice’ criticism continues to be raised, in general, we do not expect the use of out-of-court settlements as an enforcement tool to significantly decrease anytime soon.
- Compliance expectations: Forthcoming EU reforms are set to raise the bar for sanctions compliance and AML controls even further. The EU’s AML Package represents another leap forward in this respect. Central to this package is the AML Regulation, which will become directly applicable in all EU member states from mid-2027. The AML Regulation introduces formal obligations to prevent the circumvention and non-implementation of financial sanctions, including EU asset freeze measures. This marks another tightening of the compliance landscape for obliged entities operating within the EU.
- Internal investigations: Ambiguities in the Private Investigations Act will need to be clarified, particularly as the initial wave of litigation concerning the outcomes of internal investigations progresses through the courts.
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This article is part of the A&O Shearman Cross-border white-collar crime and investigations review 2026.
