The EAG assessment team began the mutual evaluation of the Belarusian AML/CFT system

As part of the mutual evaluation of the Belarusian AML/CFT system, the assessment team of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) has arrived in Minsk for the on-site visit lasting from 11 to 21 March 2019. 

In Belarus, the EAG assessors will meet with all government agencies involved in the fight against money laundering and combating the financing of terrorism and proliferation (AML/CFT/PF), as well as representatives of the private sector (banks, insurance and leasing companies, notaries, lawyers, etc.). During the meetings, participants will discuss compliance of the country's laws with international AML/CFT standards and the effectiveness of their practical implementation. 

The on-site visit is a key phase of the evaluation of the Belarusian AML/CFT regime. After the on-site visit, the EAG assessors will prepare a draft outcome report for discussion at the EAG Plenary meeting in November 2019. 

Notably, the mutual evaluation of the Belarusian AML/CFT system is being conducted in accordance with the EAG mutual evaluations schedule for 2018-2019. The previous evaluation of the country took place in 2008. 

The evaluation findings may impact the functioning of the country's financial system. Specifically, a high overall score will result in higher credit and other ratings assigned to Belarus. 

State Control Committee of the Republic of Belarus