Financial Crime World

Here’s the article in Markdown format:

Belarus Embraces Risk-Based Approach to Combat Money Laundering and Terror Financing

=====================================================

The European Union (EU) and the Council of Europe (CoE) have launched a joint project to strengthen Belarus’ measures against money laundering and terrorist financing. The “Countering Money Laundering and Terrorism Financing in Belarus” project aims to enhance the country’s institutional framework by developing operational capacities and adopting good practices.

Project Overview

The project has an EU contribution of 90% and CoE contribution of 10%, with a budget of €200,000 and a duration of 36 months starting from January 2019. The Economic Crime and Cooperation Division of the Council of Europe’s Action against Crime Department is responsible for implementing the project.

Focus Areas

The project focuses on two key areas: prevention and enforcement.

Prevention

  • Improve financial intelligence
  • Risk-based supervision by providing guidance and capacity building to relevant institutions

Enforcement

  • Strengthen capacities of law enforcement agencies and judiciary to investigate, prosecute, and adjudicate money laundering and terrorist financing cases

Expected Outcomes

The project expects to achieve two key outcomes:

  • Comprehensive measures and detection of money laundering and terrorist financing are in place
  • Increased use of a risk-based approach to supervision

To achieve these outcomes, the project will provide expert advice, workshops, trainings, and roundtables, as well as document activity results in technical papers, handbooks, or other written outputs.

Counterparts and Beneficiaries

The main counterpart for the project is the State Control Committee of Belarus. Other beneficiaries include:

  • General Prosecutors Office
  • Financial Monitoring Department
  • National Bank
  • Ministry of Foreign Affairs

Contact Information

For more information on the project, please contact the Economic Crime and Cooperation Division at +33 (0)3 88 41 25 11 or Evgeni.EVGENIEV@coe.int. The project website is available at https://www.coe.int/en/web/corruption/projects/pgg-ii-belarus.

I hope this helps! Let me know if you have any further requests.