Belarus Country Summary
Medium-High Risk
View full Ratings TableSanctions
Higher Concern
FATF AML Deficient List
Lower Concern
Terrorism
Lower Concern
Corruption
Higher Concern
US State ML Assessment
Medium Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Lower Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
If you would like a demo of our Subscription area, please reserve a day/time that suits you best using this link, or you may Contact Us for further information.
Anti Money Laundering
FATF Status
Belarus is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Belarus was undertaken in 2019. According to that Evaluation, Belarus was deemed Compliant for 12 and Largely Compliant for 25 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 5 of the Effectiveness & Technical Compliance ratings.
Sanctions
Belarus is subject to extensive autonomous sanctions imposed by multiple jurisdictions, including the United States, European Union, United Kingdom, Switzerland, Canada, Australia, Japan, New Zealand, and others, covering asset freezes, travel bans, arms embargoes, and broad trade, export, and financial restrictions across sectors such as defense, potash, and energy. Importantly, the report states there are currently no UN Security Council sanctions against Belarus; measures are autonomous or coordinated among allies, with ongoing updates and expansions.
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 31 |
| World Bank: Control of Corruption Percentile Rank | 27 |
Belarus faces significant challenges related to crime and corruption, with a notable lack of compliance with international anti-corruption standards and a judicial system that lacks independence. The country is characterized by a high level of corruption, particularly within government and state-run enterprises, and is also a hub for various criminal activities, including human trafficking, drug production, and cyber crimes, often with state complicity.
Economy
The economy and investment climate in Belarus have significantly deteriorated due to the ongoing human rights violations by the Lukashenka regime and its support for Russia's military actions in Ukraine. The country has faced expulsion from international organizations, severed ties with major trading partners, and has been subjected to extensive sanctions from the U.S. and the EU, which have severely restricted foreign direct investment (FDI) and led to a technical default on external debts. Despite a reported GDP growth of approximately 4% in 2024, largely driven by state intervention and strong exports to Russia, the overall economic outlook remains bleak, with predictions of a slowdown due to continued sanctions, a weakening Russian economy, and a lack of investor confidence exacerbated by the regime's oppressive policies and selective enforcement of laws.
Subscribe to
Professional Plus
- Unlimited Access to full Risk Reports
- Full Dataset Download
- API Access
- Virtual Asset Risk Assessments
