Belarus Steps Up Fight Against Financial Crime with EU-Council of Europe Partnership
In a significant move to combat financial crime, Belarus has launched a new project aimed at strengthening its measures against money laundering and terrorist financing. This initiative is part of the second phase of the EU/CoE Partnership for Good Governance (PGG) programme, which aims to support Eastern Partnership countries in countering economic crime.
Enhancing Compliance with International Standards
The project, which will run over several years, focuses on enhancing compliance with international standards and good practices in the Anti-Money Laundering and Combating Financing of Terrorism institutional framework. To achieve this goal, the project will:
- Develop operational capacities
- Promote the adoption of best practices among institutions involved in fighting financial crimes
Aligning with EU and Council of Europe Priorities
According to officials, the project is designed to contribute to the EU’s 2020 targets for strengthening the rule of law and anti-corruption mechanisms, as well as align with the Council of Europe’s cooperation priorities for Belarus. The overall objective is to create a robust institutional framework that can effectively respond to money laundering and terrorist financing threats.
Implementing the Project
The project is being implemented by the Council of Europe’s Unit for Eastern and South-Eastern Europe, which is responsible for coordinating the EU/CoE Partnership for Good Governance programme. The unit has been working closely with Belarusian authorities to develop and implement effective measures against financial crime.
“We are committed to supporting Belarus in its efforts to strengthen its anti-money laundering and combating financing of terrorism framework,” said Mr Evgeni Evgeniev, Head of Unit for Eastern and South-Eastern Europe. “This project will help to enhance the country’s ability to respond to these threats and promote a more secure financial system.”
Project Team
The project team is led by Programme Coordinator Ms Zahra Ahmadova, who has extensive experience in implementing anti-money laundering and combating financing of terrorism projects in the region.
International Response
Belarus’ efforts to combat financial crime have been welcomed by international partners, who see the country’s commitment as an important step towards improving its overall governance and economic stability. The project is expected to have a positive impact not only on Belarus but also on the wider region, where financial crime remains a significant threat to economic development and stability.