Number of appeals on suspicious and current financial operations significantly increases in Azerbaijan

Business Materials 1 November 2013 19:26 (UTC +04:00)

Azerbaijan, Baku, November 1/Trend, A.Akhundov/

The Financial Monitoring Service under the Azerbaijani Central Bank (CBA) received 32,500 notifications of suspicious and current operations in September 2013 compared to 18,024 in September 2012.

The number of appeals increased by 80.32 per cent per annum, the statistic report of the service said.

According to the report, the service received 32 438 data in August 2013. The service has received 245,196 as data since early 2013.

Monitoring of the service covers the activities of credit, insurance and reinsurance organisations, professional participants of the securities market, pawnshops and investment funds, as well as transactions with precious metals and stones and purchase of products.

It also covers the activities of NGOs and religious organisations, organisers of lotteries, individuals providing sales services of immovable property, as well as lawyers, accountants, real estate transactions, client money, securities and property, client banking and deposit accounts.

The Financial Monitoring Service under the CBA was established on February 23, 2009.