Financial Crime World

Law on Submission of Financial Information by Officials

Article 1: Purpose and Scope

The purpose of this law is to establish rules for submitting financial information by officials, with the goal of preventing corruption and ensuring transparency.

Article 2: Definitions

Key Terms

  • Officials: Individuals holding public office or serving in a position that requires them to submit financial information.
  • Financial Information: Data related to an official’s income, expenses, assets, and liabilities.
  • Corruption Offenses: Crimes committed by officials, including bribery, embezzlement, and abuse of power.

Article 3: Submission of Financial Information

Requirements

  • Officials must submit a declaration of their financial information within four months after approval of the declaration form.
  • The submission process involves providing detailed information about income, expenses, assets, and liabilities.

Article 4: Disclosure of Financial Information

Authorized Disclosure

  • Officials’ financial information may be disclosed by the Anti-Corruption Commission or courts in connection with corruption offenses.
  • Such disclosure must be done in accordance with law.

Protection of Confidentiality

  • The confidentiality of officials’ financial information is protected, and unauthorized disclosure is punishable under law.

Article 5: Liability for Violation

Consequences of Non-Compliance

  • Violating the rules established by this law may result in criminal, administrative, or disciplinary liability.

Article 6: Transition Provisions

Implementation Timeline

  • After approval of the declaration form, officials have four months to submit their financial information.

List of Used Source Documents

The following laws and regulations are relevant to the content of this law:

  1. Law No. 93-IIIQD of April 7, 2006
  2. Law No. 420 -IIIQD of October 1, 2007
  3. Law No. 649-IIIQD of June 13, 2008
  4. Law No. 945 -IIIQD of February 1, 2010
  5. Law No. 972-IIIQD of March 5, 2010
  6. Law No. 993-IIIQD of April 20, 2010
  7. Law No. 1444-VQD of December 28, 2018

List of Changes and Additions to the Law

The following changes and additions have been made to the law over time:

  1. Replacing “Commission under the Civil Service Management Council” with “Anti-Corruption Commission”
  2. Adding new offices to be notified of financial information submissions
  3. Changing terminology from “Executive Office” to “Administration”

Overall, this law establishes a framework for officials in Azerbaijan to submit their financial information and prevent corruption by ensuring transparency and accountability.