Details added (first version posted on 17:02)
Baku, Azerbaijan, Dec. 25
Trend:
Operation of MoneyPolo money transfer system has been suspended in Azerbaijan, the Financial Market Supervisory Authority (FIMSA) said in a message Dec. 25.
An investigation by FIMSA revealed that MoneyPolo money transfer system may become an important tool in the illegal transfer of money to the occupied Azerbaijani territories, money laundering and use of money in financing terrorism, in breach of international legal norms and territorial integrity of Azerbaijan.
Taking into account the abovementioned, the banks operating in the country and Azerpost LLC have been instructed to terminate business relations with the money transfer system.
As part of regulation and supervision of financial markets, FIMSA controls the reliability and safety of money transfer systems and their services in Azerbaijan.