Representatives from supervisory and financial intelligence units of Azerbaijan participated in a training aimed at strengthening their ability to detect and address money laundering and terrorist financing (ML/TF) risks across different sectors of the economy. The training also focused on discussing the critical role of developing and implementing an effective supervision strategy to address identified ML/TF risks.
Additionally, the training highlighted the importance of co-operation between national authorities and the private sector through the risk assessment process, including the need to raise awareness among businesses – both financial and non-financial – on how money laundering and terrorism financing can affect them.
Practical exercises helped participants build skills in collecting and analysing risk data, identifying key risk indicators, and promoted co-ordination. This, in turn, will lead to a more coherent, balanced and effective national system.
This event is part of the European Union and the Council of Europe joint programme “Partnership for Good Governance”, co-funded by the European Union and the Council of Europe, and implemented by the Council of Europe, in the framework of the project “Preventing and fighting economic crime in Azerbaijan”.
