Azerbaijan to gather data on monetary exchange with some countries

Azerbaijan to gather data on monetary exchange with some countries
# 05 August 2009 15:01 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. Azerbaijan’s Cabinet of Ministers has approved the form of reporting about imported or exported currency to the Financial Monitoring Service under the Central Bank.

According to the decision, information on currency exported into and imported from certain countries will be submitted to the Finance Monitoring Service by the State Customs Committee.

These countries will include those whose involvement are likely in the laundering of money or other property acquired by criminal means, the financing of terrorism, support for transnational organized crimes, armed separatism, extremism, illicit trafficking in narcotic drugs or psychotropic substances as well as not those whose don’t require identification in financial transactions.

A list of such states will be determined by the Financial Monitoring Service for the next phase and the Financial Action Task Force’s (FATF) list of countries unwilling to cooperate in combating money laundering and terrorist financing will be taken as the basis. FATF has no countries in its list now.
#
#

THE OPERATION IS BEING PERFORMED