The Council of Europe produced a draft legal opinion containing an analysis of the anti-money laundering/countering the financing of terrorism legislative base of the Republic of Azerbaijan and recommendations for its compliance and alignment with international standards and best practices. With a view to further discuss the findings and recommendations provided in the opinion, the project organised a consultation meeting with the Council of Europe expert and seven representatives of the Azerbaijani Financial Monitoring Service via video conferencing on 1 July 2020. The meeting served as an open forum to examine in-depth the comments and observations raised by the beneficiary, assess the relevance of specific provisions to the local context and provide more clarity on missing aspects in the draft legislative base. The constructive discussions were complemented with further information and practical examples related to the effective implementation of selected Financial Action Task Force (FATF) recommendations. The comments and proposals echoed during the meeting will be integrated into the final legal opinion which aims to support the national authorities in improving the anti-money laundering legislative framework, addressing the MONEYVAL recommendations.
This activity is organised under PGG II project on “Strengthening anti-money laundering and asset recovery in Azerbaijan” (PGG II-AZ) which is funded jointly by the European Union and the Council of Europe and implemented by the Council of Europe.