MINSK, 25 January (BelTA) - The experts of the Eurasian group on combating money laundering and financing of terrorism (EAG) will be on a visit to Minsk on 28-30 January, the State Control Committee informed BelTA.
The experts will give a preliminary assessment of how the Belarusian legislation complies with the international standards on combating money laundering and financing of terrorism. These international standards are based on the recommendations of the Financial Action Task Force on Money Laundering (FATF) recognized by a resolution of the UN General Assembly.
The EAG experts will work together with representatives of the Financial Investigations Department and the Financial Monitoring Department of the State Control Committee, the Office of the Prosecutor General, the Supreme Court, the Investigative Committee, the National Bank, the State Security Committee, the Ministry of Internal Affairs, the State Customs Committee, the State Border Committee, the Finance Ministry, the Justice Ministry, the Taxes and Duties Ministry, the Antimonopoly Regulation and Trade Ministry, the Communications and Informatization Ministry, the State Property Committee. The technical mission is organized in the run-up to the meetings with the core team of evaluators which will take place on 11-22 March.
The final report on the Belarusian anti-laundering system will be discussed at the EAG plenary meeting in November 2019. The previous evaluation was carried out in 2008.
Belarus is a founding member of the Eurasian group on combating money laundering and financing of terrorism. The EAG includes Belarus, India, Kazakhstan, China, Kyrgyzstan, Russia, Tajikistan, Turkmenistan and Uzbekistan. The Financial Monitoring Department of the State Control Committee represents Belarus in the organization. The EAG is meant to promote FATF recommendations and monitor their implementation by the member states by assessing their anti-laundering systems. FATF is an intergovernmental organization which develops international standards and policies to combat money laundering and terrorism financing. It was set up in 1989 by the heads of state and government of the Group of Seven. The current FATF recommendations were acknowledged by over 180 countries.