Financial Crime World

Azerbaijan Lawyers Receive Training on Anti-Money Laundering and Counterterrorism Compliance

Workshop Focuses on Enhancing Knowledge and Capacities of Lawyers

In cooperation with the Azerbaijani Bar Association and the Financial Monitoring Service, the Council of Europe organized a two-day workshop to educate lawyers on anti-money laundering (AML) and combating the financing of terrorism (CFT) compliance. The event aimed to promote a clear understanding of AML/CFT principles among lawyers, aligning with international standards and best practices.

Key Topics Covered

  • Identifying and Mitigating Risks: Experts from the Council of Europe provided insights on key risk indicators, client risk assessment, and customer due diligence, as well as the importance of embedding a risk-based approach into internal policies and controls.
  • Legal Professional Privilege and the Role of Lawyers: Participants discussed how to balance their obligations in the fight against AML/CFT with the need to protect clients’ fundamental human rights.

Significance of the Workshop

The workshop was significant for Azerbaijani lawyers, as it raised awareness on their role and obligations in the fight against AML/CFT, particularly in light of the newly adopted AML/CFT Law of the Republic of Azerbaijan. The event helped promote understanding of key AML/CFT principles and requirements set forth in national legislation and international standards.

Ongoing Collaboration

The collaboration between the Azerbaijani Bar Association, the Financial Monitoring Service, and the Council of Europe will continue to support the expansion of AML/CFT awareness, knowledge, and practice among lawyers in Azerbaijan. The workshop was part of the project “Strengthening anti-money laundering and asset recovery in Azerbaijan,” funded by the European Union and the Council of Europe and implemented by the Council of Europe in their Partnership for Good Governance II.

Conclusion

The workshop provided a unique opportunity for Azerbaijani lawyers to enhance their knowledge and capacities on AML/CFT compliance, aligning with international standards and best practices. The event demonstrates the commitment of the Council of Europe to supporting Azerbaijan’s efforts to combat economic crime and promote good governance.