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MONEYVAL chief Vasil Kirov: We are satisfied with anti-money laundering measures taken by Azerbaijan

04 December 2007 16:00 (UTC +04:00)

He said that Georgia-new member of the committee participates actively in this direction.
â€œGeorgia has already adopted recommendations of the Committee and approved draft law on anti-money laundering measures. Azerbaijan and Moldova is about to join this process now. Azerbaijan cooperates closely with the Committee on the sector of anti-money laundering measures. I perceive that it is not easy to regulate such issues through legislative system.
Practice of the countries having analogous legal system for long years says that it is possible to do it. Of course, the obstacles are different, mentality should be changed in these countries. But we are satisfied with the activities concerning Azerbaijan, there is some progress in this field. I think that Azerbaijani parliament will improve the situation in this field by adopting the draft law on anti-money laundering measures,â€ he said.
Vasil Kirov said that assessment of the report on Azerbaijan is on the second stage.
â€œThe first two stages are held confidentially. Our experts should visit Azerbaijan for monitoring in order to start the last stage. The visit will take place in April next year. We will thoroughly study the efficiency of the necessary system in the country and work on the last variant of the report,â€ he said. /APA/