Azerbaijan Making Strides in Financial Crime Investigations with International Assistance
Background
In Baku, Azerbaijan, law enforcement and judiciary have been making significant progress in building capacities for financial investigations. This push comes after the introduction of parallel financial investigations and non-conviction-based confiscation into national legislation with the help of the International Community. The ultimate goal is to strengthen Azerbaijan’s fight against financial crimes such as money laundering, cybercrime, and corruption.
Workshop and Training in Baku
From the 6th to the 7th of February 2023, a two-day workshop was held in Baku. Experts from the Council of Europe provided technical advice and shared best practices to enhance the skills of Azerbaijani financial investigators. During this workshop, 20 Azerbaijani investigators received specialized training on parallel financial investigations and non-conviction-based confiscation.
Support from the Council of Europe
The Council of Europe has been instrumental in assisting Azerbaijan in strengthening its legal framework for financial investigations. In 2019, Azerbaijan ratified the Council of Europe Convention on the Laundering, Search, Seizure, and Confiscation of Criminal Proceeds. This significant step forward in combating money laundering and terrorism financing was a prime focus of this recent workshop.
Progress and Satisfaction
The Head of the Economic Crime and Cooperation Division’s Team, Martine Gallez, expressed her satisfaction with the progress made by Azerbaijani authorities. She emphasized, “The training provided to Azerbaijani financial investigators is a crucial part of our joint efforts to enhance the investigation and prosecution of financial crimes.” Gallez also highlighted the significance of international cooperation in combating financial crime and reaffirmed the Council of Europe’s commitment to supporting Azerbaijan in its efforts.
Importance of Effective Financial Crime Investigations
A more effective and coordinated response to financial crimes is critical for ensuring the rule of law, which is a top priority for the Azerbaijani government. The training and support provided by the Council of Europe prove essential in ensuring that financial investigators in Azerbaijan are well-equipped with the necessary skills and resources to combat financial crimes effectively.
With further international collaboration, Azerbaijan will continue to make strides in investigating and combating financial crimes.
Key Takeaways
- Azerbaijan has been making progress in building capacities for financial investigations with international assistance
- A two-day workshop was held in Baku, offering specialized training to 20 Azerbaijani investigators
- The Council of Europe has been instrumental in supporting Azerbaijan’s legal framework for financial investigations and combating money laundering and terrorism financing
- International cooperation is crucial in the fight against financial crimes and ensuring the rule of law.