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25 January, 2019
An assessment team of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) is to visit Minsk on January 28-30, 2019. The visit is part of the 2018-2019 schedule of key activities of the mutual evaluation of Belarus.
The purpose of the visit is to hold preliminary discussions of compliance of the country's legal framework with the FATF Recommendations, recognized by the UN General Assembly as international AML/CFT standards.
During the visit, assessors are scheduled to meet with representatives of government agencies and organizations, including the State Control Committee's Financial Investigations and Financial Monitoring Departments, the General Prosecutor's Office, the Supreme Court, the Investigative Committee, the National Bank, the KGB, the Interior Ministry, the State Customs Committee, the State Border Committee, the Finance Ministry, the Justice Ministry, the Revenue Ministry, the Ministry of Anti-Monopoly Regulation and Trade, the Ministry of Communications and the State Property Committee. The technical mission constitutes one of the stages of preparations for meetings with assessors held as part of the on-site visit, scheduled for March 11-22, 2019.
The outcome report on the findings of the assessment of the Belarusian AML/CFT system is to be discussed at the EAG November 2019 Plenary meeting. The last assessment of Belarus was carried out in 2008.
Belarus is one of the founders and members of the Eurasian Group on Combating Money Laundering and Financing of Terrorism – one of the nine FATF-style regional bodies – whose other members include India, Kazakhstan, China, Kyrgyzstan, Russia, Tajikistan, Turkmenistan and Uzbekistan. Belarus is represented at the EAG by the State Control Committee's Financial Monitoring Department.
As a FATF-style regional body, the EAG's mission lies in promoting the widest possible dissemination of the FATF recommendations and monitoring compliance therewith by its member states, by conducting mutual evaluations of AML/CFT systems.
The FATF, established in 1989 by the decision of the G7 Heads of State and Government, is an intergovernmental organization that sets standards and develops policies for combating money laundering and terrorist financing. The FATF recommendations are recognized by more than 180 countries around the world.
