BAKU, Azerbaijan, Sept. 9
By Zeyni Jafarov – Trend:
As a result of the taken measures, a lot of financial crimes have been revealed recently, the Azerbaijan Financial Monitoring Service told Trend.
The Financial Monitoring Service acts in cooperation with other authorized state structures to ensure the effectiveness of the fight against the legalization of money or other property acquired as a result of crime and the financing of terrorism.
Thus, the Financial Monitoring Service operates within the policy aimed at increasing the transparency of financial transactions and strengthening security in the country. So, in accordance with the statistics for 2018, the Service carried out more than 400,000 transactions.
The representatives of the Financial Monitoring Service participate in joint foreign trips with the cooperating structures to increase the efficiency of cooperation.
Moreover, the Financial Monitoring Service organizes training for law enforcement agencies and private structures operating in the financial sector of the country dedicated to the new types of tools and approaches which are used at the international level in the field of combating money laundering or other property acquired as a result of crime and financing terrorism.
The Financial Monitoring Service was established upon the Azerbaijani president’s decree dated February 23, 2009 as an independent structural unit under the Central Bank of Azerbaijan.
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