Within the new report revealed in the present day, Council of Europe’s anti-money laundering physique MONEYVAL calls on Azerbaijan authorities to additional strengthen measures to fight cash laundering (ML), the financing of terrorism (TF) and financing of proliferation, specifically within the areas of preventive measures and supervision, APA stories.
The report supplies a complete evaluation of the nation’s stage of compliance with requirements set by the Monetary Motion Activity Pressure (FATF). Since 2014, when MONEYVAL final evaluated Azerbaijan, the nation has taken a number of actions to strengthen its authorized and institutional framework to sort out cash laundering, the financing of terrorism (AML/CFT) and has began to place in place the weather of an efficient AML/CTF system.
MONEYVAL notes that Azerbaijan has achieved a considerable stage of effectiveness for countering terrorist financing and that the authorities have demonstrated their means to efficiently examine TF offences (seven convictions had been secured through the reference interval). Equally, in worldwide cooperation, Azerbaijan achieved a considerable stage of effectiveness and was recommended for the authorities’ capacities to offer and search constructive help. MONEYVAL’s analysis report on Azerbaijan notes that the nation demonstrates a good understanding of ML/TF dangers, in accordance with which home corruption, tax associated crimes, smuggling and drug trafficking are the principle ML predicate offences.