Financial Crime World

Belarus Tackles Money Laundering and Terrorism Financing with EU-CoE Partnership

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The European Union (EU) and the Council of Europe (CoE) have partnered to launch a new project aimed at countering money laundering and terrorism financing in Belarus. The €200,000 project, titled “Countering Money Laundering and Terrorism Financing in Belarus,” will run for 36 months starting from January 1, 2019.

Project Objectives

The overall objective of the project is to enhance compliance of Anti-Money Laundering and Combatting Financing of Terrorism (AML/CFT) institutional framework with international standards and good practices. To achieve this, the project will strengthen institutions involved in fighting against money laundering and terrorist financing by developing operational capacities and facilitating the adoption of good practices.

Prevention Area

Improved Financial Intelligence and Risk-Based Supervision

  • Provide guidance on improved financial intelligence
  • Build capacity for risk-based supervision

Enforcement Area

Strengthening Capacities of Law Enforcement Agencies and Judiciary

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

Project Outcomes

The project expects to achieve two main outcomes:

Comprehensive Measures

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

Detection of Money Laundering and Terrorist Financing

  • Improved detection of money laundering and terrorist financing cases
  • Enhanced cooperation among law enforcement agencies, judiciary, and financial institutions

Implementation and Partnerships

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

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

The Council of Europe’s Economic Crime and Cooperation Division (ECCD) will be responsible for implementing activities under this project. The division will engage international and local experts to ensure high-quality assistance is delivered to beneficiary institutions.

For more information about the project, please contact: