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Belarus: A Crucial Player in the Global Fight Against Financial Crime
In a bid to combat financial crime and terrorism, Belarus has become an active member of the Financial Action Task Force (FATF), a global standard-setting body that sets anti-money laundering and counter-terrorist financing (AML/CFT) standards.
What We Do
As part of its commitment to combating financial crime, Belarus has been working closely with the FATF Secretariat to implement AML/CFT measures in line with international standards. The country’s efforts have been recognized through its membership in the Eurasian Group (EAG), a regional anti-money laundering body that includes many Eastern European and Central Asian countries.
Who We Are
The FATF is an inter-governmental organization that sets standards for combating money laundering, terrorist financing, and other related threats. Its 37 member countries work together to promote cooperation and information sharing in the fight against financial crime.
FATF Presidency
Belarus has been playing an increasingly important role in the FATF’s presidency, which rotates among its member countries every three years. The country has been instrumental in shaping the organization’s agenda and promoting international cooperation in combating financial crime.
Mandate of the FATF
The FATF’s mandate is to develop and promote effective measures against money laundering, terrorist financing, and other related threats. Its work focuses on setting standards, conducting assessments, and providing training and support to its member countries.
Key Responsibilities
- Developing and promoting effective AML/CFT measures
- Conducting assessments of member countries’ implementation of AML/CFT measures
- Providing training and support to member countries
Outcomes of Meetings
Recent meetings of the FATF have seen significant progress in the implementation of AML/CFT measures around the world. Belarus has been actively participating in these meetings, sharing best practices and learning from other countries’ experiences.
Ministerial Declarations
The FATF’s Ministerial Declaration is a key document that sets out the organization’s goals and priorities. Recent declarations have emphasized the importance of international cooperation in combating financial crime and promoting economic stability.
Key Points
- Emphasis on international cooperation in combating financial crime
- Promotion of economic stability through effective AML/CFT measures
History of the FATF
Established in 1989, the FATF has been at the forefront of the global fight against financial crime for over three decades. Its work has helped to improve the effectiveness of AML/CFT measures worldwide and promote greater cooperation among countries.
Mutual Evaluation Report of Belarus
For more information about the assessment of the implementation of AML/CFT measures in Belarus, please consult the EAG website. The Mutual Evaluation Report is a comprehensive document that provides an overview of the country’s progress in implementing international standards.