Azerbaijan, Baku, Oct. 22 /Trend, A.Akhundov/
Financial Monitoring Service of the Central Bank of Azerbaijan adopted minimum requirements for the preparation and implementation of internal controls over on combating the financing of terrorism and money laundering or other property acquired by criminal means, the Service reported.
Prepared by the Financial Monitoring Service the "Requirements for the organization of internal control activities against financing of terrorism and legalization of money or other property acquired by criminal means by legal and other persons who are participants of monitoring" were registered by the Ministry of Justice of Azerbaijan on Sept. 30, the Service reported.
This document has been prepared based on Article 12 of the Law on combating financing of terrorism and legalization of money or other property acquired by criminal means and the paragraph 10.6 of the Statute of the Financial Monitoring Service of the Central Bank of Azerbaijan. The document has been agreed based on discussions with relevant government agencies.
"Also, the document defines the minimum requirements for the persons responsible for combating financing of terrorism and legalization of money or other property acquired by criminal means," said the report.