Politics and economy

Belarus is a presidential republic. Its supreme legislative body is the National Assembly. Belarus is an industrial-agrarian country. The most developed segments of its economy are the auto industry, instrument-making, light industry, food, chemicals and petrochemicals.

Russia accounts for about 50% of the country’s foreign trade.

The financial system is based on the national budget. Budget revenues are generated through taxes, revenues from foreign operations and other sources. The country has a bilevel banking system. The National Bank regulates commercial banks. The national currency is the Belarusian ruble.

National AML/CFT regime

The country established its AML/CFT regime in 2000 when it passed the law "On Measures to Prevent the Legalization of Criminal Income" and specified the state financial monitoring bodies. Relevant amendments to the national AML/CFT laws entered into force in September 2010.

The financial intelligence unit (FIU) is the Financial Monitoring Department (FMD) of the State Control Committee of Belarus (DFM), which was established by Presidential Decree № 408 of 14 September 2003.

The Department collects and analyzes information on suspicious financial transactions and provides relevant information and materials to the criminal prosecution body when there is sufficient evidence indicating that the financial transaction involves the legalization of income obtained by illegal means or the financing of terrorist activities.

The DFM is an administrative-type financial intelligence unit.

Since 2007, the financial intelligence unit of Belarus has been a member of the Egmont Group, which unites the FIUs of the world. 

The Director of the Financial Monitoring Department of the State Control Committee of Belarus Alexander Maximenko

ALEXANDER MAXIMENKO

Born on September 6, 1973 in Starye Dyatlovichi, Gomel region.

In 1995 graduated from Gomel polytechnic institute them. P.o. sukhoy. In 2007 graduated from the Academy of management under the President of the Republic of Belarus.

From 1995 to 2000 worked in the management of agriculture and food of Yelsk district Executive committee and Kontrol-auditing management of the Committee on agriculture and food of the Gomel region Executive committee in various capacities (the economist on accounting, leading auditor, senior and chief inspector);

From 2000 to 2006. - director of the communal agricultural unitary enterprise "Мlynok", Yelsk district; From 2006 to 2007. - First deputy chairman - Head of the department of agriculture and food of The Oktyabrskiy district of the Executive committee of the Gomel region; From 2007 to 2011 -

Chairman of the Oktyabrsky district Executive committee, Gomel region;

Since April 18, 2011 by now - director of the Department of financial monitoring of the State Control Committee of the Republic of Belarus.

Was awarded with the medal "For labour merits"

Cooperation with the EAG

Since the establishment of the Eurasian group, Belarus has been taking an active part in its work. Belarus became a member of the EAG on 6 October 2004 at the founding conference in Moscow.

In 2008, Belarus underwent the EAG mutual evaluation, whereupon the country adopted a number of regulations on combating money laundering and terrorist financing.

Belarus became the first EAG member state to implement the FATF Recommendations.