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Baku hosts international seminar on combat money laundering and the financing of terrorism

10 November 2010 11:34 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. On November 9-11, the Financial Monitoring Service under the Central Bank of Azerbaijan, World Bank, International Monetary Fund and United Nations Office on Drugs and Crime hold an international seminar on â€œactual issues of cooperation on combating money laundering and the financing of terrorismâ€, in Baku.

According to FMS, the seminar is conducted by 4 international experts of WB, IMF and UN Office on Drugs and Crime.

The seminar is practical. Along with the presentations, concrete examples and practices of countries on combating money laundering and financing of terrorism will be analyzed, cooperation between bodies of financial monitoring and law enforcement agencies and joint utilization the information markets will be discussed at the seminar.

According to FMS director Adishirin Gasimov, existing of money laundering and financing of terrorism shakes the international efforts on establishment of liberal and competitive markets, forming of civil society and impedes the development of national economies.

He also noted that policy of Azerbaijan government on combating Illegal income via corruption and economic crime was based on employment of international standards and strategy owning the clear marks. Thus, the Project Law of Azerbaijan on Combating Corruption was adopted in 2004-2006 and fulfilled successfully. As the results of realization of this project Azerbaijan has been take off FATFâ€™s special list.

He also noted that participation of representatives on law enforcement agencies makes the seminar more significantly.

Note that FMS held 45 trainings and seminars on combating money laundering and financing of terrorism, including 9 trainings and seminars with the participation of international experts. More than 2 700 local specialists attended the seminars.