Belarus and ITMCFM sign agreement on technical asiistance cooperation

The agreement has been signed between the Financial Monitoring Department of the Belarusian State Control Committee and the International Training and Methodological Center of Financial Monitoring established by the Federal Financial Monitoring Service of the Russian Federation.

The agreement details the key lines of technical assistance for the purpose of developing a national anti-money laundering system in Belarus, including:

• issues of harmonizing Belarusian AML/CFT legislation;
• advisory and expert assistance in the development of the Single Information System by the Belarusian Financial Monitoring Department;
• participation of the Belarusian Financial Monitoring Department in the development of the EAG Single Information Space and creating of unified databases of EAG member states;
• development of training and methodological programs, conducting training events;
• mutual visits by the parties to hold consultations and implement technical assistance programs.

Belarus and Russia have been members of the Eurasian Group on combating money laundering and financing of terrorism since day one. They cooperate actively in all AML/CFT efforts.

In 2008, Belarus underwent mutual evaluation by EAG for compliance of its national AML/CFT system with international standards. The evaluation findings showed that Belarus made considerable progress in developing the institutional and legislative AML/CFT framework.

Efforts as part of the signed technical assistance agreement are expected to contribute to continued development of the Belarusian AML/CFT system.