Bank Of Baku

MONEYVAL issues public statement on Azerbaijan

MONEYVAL issues public statement on Azerbaijan
# 24 March 2009 08:59 (UTC +04:00)
. The Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) welcomed the progress in Azerbaijan that had been made with the adoption of an AML/CFT Law on 18 February 2009 and the steps that are now being taken to complete the legal framework for an AML/CFT regime. MONEYVAL held its 29th meeting on March 16-20, 2009 in Strasbourg. The committee requested Azerbaijan to finalize the legal structure quickly and address other identified deficiencies. On 12 December 2008, at its 28th plenary meeting, MONEYVAL expressed concern with deficiencies in the anti-money laundering / combating the financing of terrorism (AML/CFT) regime in Azerbaijan.
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