Title: MONEYVAL’s Assessment Mission to Azerbaijan: Fortifying Its Anti-Money Laundering Measures

Background

• Azerbaijan undergoes an assessment mission from MONEYVAL from March 1-15, 2023
• Purpose: Evaluate progress against money laundering (ML) and terrorist financing (TF)
• MONEYVAL is part of the Council of Europe, a monitoring body for ML/TF countermeasures in member states

About MONEYVAL

• MONEYVAL: Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism
• Independent body that assesses legal/regulatory frameworks against ML/TF
• Uses comprehensive evaluation methodology: legal/regulatory frameworks, criminal justice response, international cooperation

Focus Areas of the Assessment

• Political commitment
• Risk assessment strategy
• Legal framework
• Regulatory and supervisory framework
• Operational capability

Key Stakeholders

• Government officials
• Law enforcement agencies
• Financial institutions

Importance in the Global Context

• Rising concerns over ML and its effects on financial systems and economies
• Many countries, including Azerbaijan, have faced ML allegations
• International organizations, like MONEYVAL, play a pivotal role in enhancing ML/TF combat capacity

Anticipated Outcomes

• MONEYVAL report with recommendations for improving Azerbaijan’s anti-ML/TF framework
• Government’s commitment to implement recommendations
• Constructive dialogue between the international community and Azerbaijan on ML/TF issues