Azerbaijan has completed its third national assessment of risks related to money laundering and the financing of terrorism, an important step in protecting the country’s economy and citizens. The assessment helps national authorities understand where financial systems may be vulnerable and how criminal activity can be prevented more effectively.
The Council of Europe brought together national authorities and private sector representatives to review the assessment’s findings and to jointly agree on next steps through a National Action Plan which defines concrete actions to address the identified risks.
Drawing on international expertise, the event strengthened the capacity of national institutions to apply risk assessment results in practice. It also provided an opportunity to acknowledge national efforts to comprehensively assess these risks, while recommending areas for further improvement. As a result, authorities improved their ability to analyse risks, use data more effectively, and address vulnerabilities in specific sectors. This supports better informed decision-making and effective application of measures to counter money laundering and terrorist financing, in line with European standards.
By strengthening the prevention of money laundering and terrorist financing, this joint effort contributes to a more transparent and resilient financial system in Azerbaijan, thereby contributing to greater economic stability and public trust.
This joint effort helps Azerbaijani authorities build a safer and more transparent financial system, by preventing money laundering and terrorist financing. By better identifying, assessing and understanding threats and vulnerabilities related to these crimes, authorities can base their decisions on solid evidence. For citizens, this means safer financial systems, increased transparency and accountability.
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 on “Preventing and fighting economic crime in Azerbaijan”.
