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Customs Union treaty against money laundering to be ratified on 8 October

The treaty on counteracting the legalization (laundering) of revenues acquired via criminal means and on counteracting terrorism financing during the transportation of money or monetary instruments across the Customs Union border is expected to be ratified by the House of Representatives of the National Assembly of Belarus on 8 October. Once the document is ratified in Belarus, it will come into effect. The treaty is expected to come into effect in the near future.

Before the Customs Union was set up, the Belarusian customs service was busy counteracting illegal money transportation within borders of the country. In the Customs Union the three countries should stop “the illegal transportation of dirty money that can be used for terrorism and other dreadful actions”.