MONEYVAL makes statement on Azerbaijan

MONEYVAL makes statement on Azerbaijan
# 12 December 2008 13:34 (UTC +04:00)
Strasbourg. Fuad Gulubayli-APA. Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) made a statement on Azerbaijan during its 28th plenary session, APA Europe bureau reports.
The statement covers anxiety about shortcomings in combating anti-money laundering measures and the financing of terrorism in the country since 2006.
“Draft law on combating these fields was approved in the second reading on October 31, 2008. All aspects of the bill do not coincide with international norms. The draft law should be met international norms before summing up it. We urge Azerbaijan to pass a decision meeting international standards,” said in a statement. MONEYVAL recommended to member countries and financial institutions to urge physical persons and financial bodies to take measures on transactions.
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THE OPERATION IS BEING PERFORMED