Azerbaijan News Service

Conference on money-laundering held in Baku

A financial intelligence department based on the high international standards can be established in Azerbaijan

A conference entitled “Combating money-laundering and terrorist financing in Azerbaijan: lessons and best experiences” was held Tuesday in Baku. The conference was organized by Anti-Corruption Commission of Azerbaijan Republic, USAID and the Council of Europe. Addressing the conference, chairman of the state-building and judiciary commission of Milli Majlis Ali Huseynov spoke about the measures taken towards improvement of legislative basis for anti-corruption struggle. He said during its last session Milli Majlis approved the draft law on “Combatting legalization of money and property gained by the criminal means” at the first reading.

US ambassador to Azerbaijan Anne Derse said efforts of the Azerbaijani government towards the adoption of this law should be welcomed. “We are hopeful that in this respect a financial intelligence department based on the high international standards will be established in Azerbaijan. Bribery and global swindling bring big money, but it demands money-laundering to put it into circulation. Combating such attempts should be one of the main duties of the government and Azerbaijan’s efforts towards this should be welcomed”.

The conference is continuing its work.