The report applauds Azerbaijan for securing seven convictions related to terrorist financing offenses during the assessed period, showcasing the nation’s proactive stance and capability in addressing such threats.
This evaluation offers a detailed look into Azerbaijan’s adherence to the Financial Action Task Force (FATF) standards, which are pivotal in the global fight against money laundering and terrorist financing. Since MONEYVAL’s last assessment in 2014, Azerbaijan has made significant strides in bolstering its legal and institutional frameworks. These efforts are aimed at not just tackling money laundering and the financing of terrorism but also at establishing a robust anti-money laundering and counter-terrorist financing (AML/CTF) system.
The report also highlights Azerbaijan’s considerable effectiveness in international cooperation, praising the country’s ability to both offer and seek constructive assistance in these matters. According to MONEYVAL’s findings, Azerbaijan has a sound understanding of its money laundering and terrorist financing risks, identifying domestic corruption, tax-related crimes, smuggling, and drug trafficking as the primary offenses leading to money laundering.
