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Risk-Base Approach to Anti-Money Laundering in Belarus

A major project aimed at countering money laundering and terrorism financing has been launched in Belarus with the goal of enhancing compliance with international standards and good practices.

Overview

The European Union-funded initiative, implemented by the Council of Europe, targets key institutions in Belarus, including:

• State Control Committee
• General Prosecutor’s Office
• Investigative Committee
• State Security Committee
• Ministry of Taxes and Duties
• Ministry of Finance
• National Bank of the Republic of Belarus

The project aims to benefit not only the general public but also these state bodies and financial institutions.

Objectives and Implementation

To achieve its objectives, the project will implement:

• Policy, legislative, and capacity-building actions
  • Legal opinions
  • Strategic advice
  • Training
  • Sharing experiences with other countries

The initiative builds on the results of cooperation in anti-corruption and money laundering under the previous Partnership for Good Governance Phase I (2015-2018).

Risk-Based Approach to Supervision

The comprehensive measures and detection of money laundering and terrorist financing are expected to be strengthened, with an increased use of a risk-based approach to supervision.

Funding and Timeline

Funded by the European Union (80%) and the Council of Europe (20%), the project has a total budget of EUR 200,000. It will run from January 1, 2019, to December 31, 2021.

Contact Information

Interested individuals can learn more about the project by contacting:

• The Council of Europe’s Action against Crime Department through its Economic Crime and Cooperation Division in Strasbourg
  • Mustafa FERATI: Mustafa.FERATI@coe.int
  • Zahra AHMADOVA: Zahra.AHMADOVA@coe.int
  • Natia JGENTI: Natia.JGENTI@coe.int

Partnership for Good Governance Programme

This bilateral project with Belarus is part of the Partnership for Good Governance Programme (Phase II), which aims to strengthen the capacity of Eastern Partnership countries to implement domestic reforms and bring them closer to European standards in the fields of:

• Human rights
• Democracy
• The rule of law