AML/CFT

Central Bank of Azerbaijan Fines MJ Finance Official for AML/CFT Violations

The Central Bank of Azerbaijan has fined an official of non-bank credit organization MJ Finance for violations of anti-money laundering and counter-terrorism financing legislation. The court imposed a fine of 2,000 manats.

Azerbaijan's Central Bank to Gain AML/CFT Supervision Powers Over Financial Institutions

A draft law discussed in the Milli Majlis would grant the Central Bank of Azerbaijan supervisory authority over financial institutions and groups in the area of anti-money laundering and counter-terrorist financing. Risk reassessments would be triggered by a 40% or greater increase in transaction volume.

Azerbaijan's Central Bank Fines Two Pawnshops and a Leasing Company

Officials of two pawnshops and a leasing company have been held administratively liable for violations in the field of combating money laundering and terrorist financing.

Azerbaijan's Central Bank Fines Embafinans and Caspian Invest for Violations

The Central Bank of Azerbaijan has brought two non-bank credit organizations to administrative responsibility for violations of anti-money laundering and counter-terrorist financing legislation.