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FIU of the Republic of Belarus

The Financial Monitoring Department of the State Control Committee of the Republic of Belarus was established pursuant to Decree No.408 of the President of the Republic of Belarus dated September 14, 2003 for the purpose of improving the system of measures to prevent legalization of proceeds obtained through crime and financing of terrorist activities.

Main Objectives of the Department:

  • Taking effective measures to prevent legalization of proceeds obtained through crime and financing of terrorist activities;
  • Establishing and ensuring the functioning of the automated system for recording, processing and analyzing information about financial transactions that are subject to special control;
  • Pursuing international cooperation on matters related to prevention of legalization of proceeds obtained through crime and financing of terrorist activities.

Pursuant to the assigned tasks, the Financial Monitoring Department of the State Control Committee of the Republic of Belarus:

  • Determines the procedure for the establishment of the automated system for recording, processing and analyzing information about financial transactions that are subject to special control;
  • Collects and analyzes information about suspicious financial transactions;
  • Verifies the incoming information in a prescribed manner;
  • Identifies red flags indicating that financial transactions are related to legalization of proceeds obtained through crime or financing of terrorist activities;
  • Participates, in accordance with the established procedures, in drafting laws and regulations, as well as in concluding and fulfilling international treaties, and, where appropriate, concludes and performs international interagency treaties on matters related to legalization of proceeds obtained through crime and financing of terrorist activities;
  • Studies international AML/CFT experience and practices;
  • Contributes to development and implementation of international AML/CFT cooperation programs.

Emblems

Decree No.328 of the President of the Republic of Belarus dated July 23, 2012 on Approval of Official Heraldic Symbols of the State Control Committee established the emblems of the State Control Committee (SCC) and the SCC Financial Monitoring Department, as well as the flags of the State Control Committee, the SCC Financial Monitoring Department and the SCC Financial Investigation Department.

The emblem of the Financial Monitoring Department is a golden laurel wreath intertwined with ribbons of the colors of the State Flag of the Republic of Belarus. In the upper part of the wreath, there is the image of the National Emblem of the Republic of Belarus; in the center of the wreath, there is the silver shield on which there are crossed caduceus and a torch on the background of the globe.

 

Legal Framework

The activities of the Financial Monitoring Department of the State Control Committee are performed also with due consideration to the international legislation.

The Financial Monitoring Department of the State Control Committee of the Republic of Belarus is headed by:

Director

Vyacheslav Reut

AML/CFT Activities

Within its competence the Financial Monitoring Department: 

  • Requests and receives information (documents) required for implementation of the duties and functions assigned to the Department;
  • Takes measures to develop and ensure the functioning of the automated system for recording, processing and analyzing information about financial transactions that are subject to special control;
  • Oversees compliance by entities engaged in financial transactions with the anti-money laundering and counter-terrorist financing legislation;
  • Develops and takes measures to prevent violation of the anti-money laundering and counter-terrorist financing legislation;
  • Applies enforcement measures against entities and natural persons, including individual entrepreneurs, for breaches of the anti-money laundering and counter-terrorist financing legislation;
  • Orders to suspend debit financial transactions when there is sufficient evidence indicating that financial transactions are related to legalization of proceeds obtained through crime or financing of terrorist activities in the case such transactions are not suspended by the person performing financial transactions;
  • Decides whether to file relevant information and documents about a suspended financial transaction to a criminal prosecution agency, or to resume the suspended financial transaction, and informs the person that has suspended the transaction about taken decision in writing or electronically;
  • Disseminates the relevant information and documents to a criminal prosecution agency when there is sufficient evidence indicating that a financial transaction is related to legalization of proceeds obtained through crime and financing of terrorist activities;
  • Conducts inspections and audits to verify compliance by persons engaged in financial transactions with the anti-money laundering and counter-terrorist financing legislation, including inspections of internal control arrangements intended for recording financial transactions that are subject to special control;
  • Issues decisions (orders, resolutions) that are mandatory for execution by all government authorities, other entities (their employees) and natural persons, including individual entrepreneurs, within the timelines set by the Department;
  • Requests necessary AML/CFT information from foreign competent authorities;
  • Participates in activities of international organizations;
  • Exercises other powers set out in the laws and decisions of the President of the Republic of Belarus.

Contact Information

Contact Phones:

  • + 375 (17) 328-39-61 - Phone
  • + 375 (17) 328-39-61 – Fax

E-mail: dfm_kgk@mail.belpak.by

Official Website: kgk.gov.by

Address: 5, Karl Marx Street, Minsk, 220030, Republic of Belarus

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