Belarus has undergone a national assessment of money laundering and terrorist financing risks

Pursuant to the Presidium of the Council of Ministers of the Republic of Belarus resolution dated February 27, 2018, Belarus has undergone a national assessment of money laundering and terrorist financing risks. 

The assessment was coordinated by RB Council of Ministers' interagency committee, made up of representatives of 15 government agencies: the State Control Committee, the General Prosecutor's Office, the Supreme Court, the National Bank, the Investigative Committee, the State Security Committee, the Ministry of Internal Affairs, the State Customs Committee, the State Border Committee, the Ministry of Finance, the Ministry of Justice, the Ministry of Taxes and Duties, the Ministry of Antimonopoly Regulation and Trade, the Ministry of Communications and Informatization, and the State Property Committee. Private sector organizations and their associations (unions) were also involved in the assessment. 

The assessment was carried out in accordance with the methodology developed on the basis of the FATF, the World Bank, the International Monetary Fund and the OSCE documents. 

According to the national assessment findings, the following have been rated as high ML risk: tax crimes, illegal business activities, pseudo-entrepreneurship, drug-related crimes, high-tech crimes, and corruption. The risks facing the financial and DNFBP sectors have also been identified. 

The terrorist financing risk in Belarus has been rated as low. 

Assessors have also identified measures designed to mitigate the risks identified aimed at improving the institutional environment and regulatory framework, studying international experience, and strengthening human and technical capacity. 

Please click on the link below to view a summary of the national ML/TF risk assessment.

State Control Committee of the Republic of Belarus