Minsk Hosts Seminar on Preparation For International Assessment of the Anti-Money Laundering and Countering the Financing of Terrorism System Created in Belarus

Seminar on preparation for international assessment of the anti-money laundering, combating the financing of terrorism and combating the financing of proliferation of weapons of mass destruction (AML/CFT/CPF) system created in Belarus is held in Minsk on April 10-13, 2018.
The main task of the seminar is acquaintance with the mutual evaluation process under the FATF (the Financial Action Task Force) methodology, clarification of the specifics of providing information on technical compliance and efficiency, identification of elements of the AML/CFT/CPF system that require strengthening and enhancement. The body coordinating preparation of our country to the upcoming assessment is the Financial Monitoring Department of the State Control Committee.
The seminar is also attended by representatives of the State Control Committee, the General Prosecutor's Office, the Supreme Court, the Investigative Committee, the National Bank, the Committee for State Security (KGB), the Ministry of Internal Affairs, the State Customs Committee, other state and law enforcement agencies, as well as the private sector (commercial banks, insurance and gambling organizations, etc.).
Representatives of the Eurasian Group on Combating Money Laundering and the Financing of Terrorism (EAG) headed by the EAG Executive Secretary V.P. Nechaev arrived to Minsk to attend the training seminar. In addition to participation in the seminar, planned are working meetings of V.P. Nechaev with the heads of state bodies being the part of anti-money laundering system, including Chairman of the State Control Committee L.V. Anfimov, First Deputy Prime Minister V.S. Matyushevsky, of the National Bank, the Supreme Court, the Prosecutor General's Office, the Ministry of Internal Affairs.
The seminar will give start to the campaign of Belarus preparation for assessment of the national anti-money laundering system. The assessment of the anti-money laundering system of Belarus itself will start in the second half of this year and will be completed in the end of 2019. The main event of this assessment - the visit of the Eurasian Group on Combating Money Laundering and the Financing of Terrorism (EAG) assessors to Belarus - will be held in March 2019.
Also, the upcoming assessment of the anti-money laundering system of Belarus includes a number of other steps:

• National assessment of risks (NRA) of legalization (laundering) of illegally gained proceeds and the financing of terrorism;
• Completion and submission to experts of the questionnaire relating to technical compliance of the legislation with the FATF standards and the questionnaire relating to the AML/CFT/CPF system effectiveness;
• Preparation and conduction of on-site visit of EAG assessors to Belarus;
• Preparation and discussion of the report on mutual evaluation of the AML/CFT/CPF system of the Republic of Belarus at the EAG Plenary Meeting.

For Reference
The Republic of Belarus is the founder and a member of the Eurasian Group on Combating Money Laundering and the Financing of Terrorism (EAG) – one of the nine FATF-style regional bodies. The EAG comprises 9 states: Belarus, India, Kazakhstan, China, Kyrgyzstan, Russia, Tajikistan, Turkmenistan, and Uzbekistan.
The main purpose of the FATF and the FATF-style regional bodies (such as EAG) is promotion of international standards of combating money laundering and the financing of terrorism.
Currently, 40 FATF Recommendations are in force which stipulate measures for combating money laundering, the financing of terrorism and proliferation of weapons of mass destruction. The FATF Recommendations in force are endorsed by over 180 countries.
The State Control Committee of the Republic of Belarus